Celanese Corporation (CE)

Quick ratio

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cash 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
Receivables US$ in thousands 1,998,000 2,413,000 1,786,000 1,335,000 1,302,000
Total current liabilities US$ in thousands 4,072,000 4,068,000 2,505,000 1,973,000 1,754,000
Quick ratio 0.93 0.96 0.93 1.43 1.03

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,805,000K + $—K + $1,998,000K) ÷ $4,072,000K
= 0.93

The quick ratio of Celanese Corp has shown some fluctuations over the past five years. In 2023, the quick ratio stood at 0.95, indicating that the company had $0.95 of liquid assets available to cover each $1 of current liabilities. This ratio was slightly higher compared to the previous year's ratio of 0.93 in 2022 and 0.91 in 2021.

The quick ratio in 2020 was significantly higher at 1.41, suggesting a more favorable liquidity position compared to the other years in the dataset. However, in 2019, the quick ratio was lower at 0.98.

Overall, a quick ratio above 1 indicates that the company has an adequate level of liquid assets to cover its short-term liabilities. In contrast, a quick ratio below 1 may raise concerns about the company's ability to meet its immediate obligations. Based on the trend observed in Celanese Corp's quick ratio over the past five years, the company has generally maintained a reasonable level of liquidity, with some fluctuations in the ratio year-on-year.


Peer comparison

Dec 31, 2023

Company name
Symbol
Quick ratio
Celanese Corporation
CE
0.93
Sealed Air Corporation
SEE
0.61