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