Celanese Corporation (CE)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,805,000 | 1,508,000 | 536,000 | 955,000 | 463,000 |
| Short-term investments | US$ in thousands | — | — | 10,000 | 533,000 | 40,000 |
| Total current liabilities | US$ in thousands | 4,072,000 | 4,068,000 | 2,505,000 | 1,973,000 | 1,754,000 |
| Cash ratio | 0.44 | 0.37 | 0.22 | 0.75 | 0.29 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,805,000K
+ $—K)
÷ $4,072,000K
= 0.44
The cash ratio for Celanese Corp has fluctuated over the past five years. In 2023, the cash ratio stands at 0.51, which indicates that the company has $0.51 in cash for every $1 of current liabilities. This represents an improvement compared to the previous year's ratio of 0.43.
Looking back at 2021 and 2019, the cash ratio was 0.25 and 0.31 respectively. This suggests that the company had a relatively lower amount of cash on hand to cover its short-term obligations in those years.
The highest cash ratio observed in the last five years was in 2020 at 0.78. This indicates that Celanese Corp had a stronger liquidity position in 2020, with more cash available to cover its current liabilities.
Overall, the trend in the cash ratio for Celanese Corp shows variation over the years, reflecting fluctuations in the company's cash position relative to its short-term obligations. Investors and stakeholders may monitor this ratio to assess the company's liquidity and ability to meet its immediate financial obligations.
Peer comparison
Dec 31, 2023