Celanese Corporation (CE)
Cash ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,805,000 | 1,357,000 | 1,296,000 | 1,167,000 | 1,508,000 | 9,671,000 | 783,000 | 605,000 | 536,000 | 1,340,000 | 1,054,000 | 791,000 | 955,000 | 615,000 | 539,000 | 570,000 | 463,000 | 497,000 | 491,000 | 441,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | 7,000 | 9,000 | 10,000 | 28,000 | 29,000 | 331,000 | 533,000 | 35,000 | 36,000 | 38,000 | 40,000 | 26,000 | 27,000 | 29,000 |
| Total current liabilities | US$ in thousands | 4,072,000 | 3,616,000 | 3,922,000 | 3,851,000 | 4,068,000 | 2,788,000 | 2,595,000 | 2,554,000 | 2,505,000 | 1,812,000 | 2,129,000 | 1,935,000 | 1,973,000 | 2,409,000 | 2,262,000 | 1,928,000 | 1,754,000 | 1,533,000 | 1,408,000 | 1,822,000 |
| Cash ratio | 0.44 | 0.38 | 0.33 | 0.30 | 0.37 | 3.47 | 0.30 | 0.24 | 0.22 | 0.75 | 0.51 | 0.58 | 0.75 | 0.27 | 0.25 | 0.32 | 0.29 | 0.34 | 0.37 | 0.26 |
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 of Celanese Corp has fluctuated over the past eight quarters, ranging from 0.29 to 3.54.
In Q4 2022, the cash ratio was exceptionally high at 3.54, which suggests that the company had a substantial amount of cash and cash equivalents relative to its current liabilities. This could indicate that Celanese Corp had a strong liquidity position at that time.
However, the cash ratio decreased significantly in subsequent quarters, reaching a low of 0.29 in Q1 2022. This sharp decline may raise concerns about the company's ability to cover its short-term obligations with its available cash reserves.
Overall, the cash ratio has shown volatility, with fluctuations from 0.29 to 0.51 in the most recent quarter, Q4 2023. This indicates that liquidity management may have been inconsistent or that changes in cash and current liabilities have impacted the company's ability to cover its short-term obligations effectively. Further analysis of the company's cash management and financial health would be beneficial to assess the significance of these fluctuations in the cash ratio.
Peer comparison
Dec 31, 2023