Celanese Corporation (CE)
Quick 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 | 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 |
| Receivables | US$ in thousands | 1,998,000 | 1,909,000 | 1,963,000 | 2,313,000 | 2,413,000 | 1,612,000 | 1,827,000 | 1,913,000 | 1,786,000 | 1,738,000 | 1,788,000 | 1,510,000 | 1,335,000 | 1,063,000 | 1,041,000 | 1,160,000 | 1,302,000 | 1,282,000 | 1,303,000 | 1,358,000 |
| 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 |
| Quick ratio | 0.93 | 0.90 | 0.83 | 0.90 | 0.96 | 4.05 | 1.01 | 0.99 | 0.93 | 1.71 | 1.35 | 1.36 | 1.43 | 0.71 | 0.71 | 0.92 | 1.03 | 1.18 | 1.29 | 1.00 |
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 variability over the past eight quarters, ranging from a low of 0.90 in Q2 2023 to a high of 4.11 in Q3 2022. A quick ratio below 1 indicates that the company may have insufficient liquid assets to cover its current liabilities, while a ratio above 1 suggests that the company is able to meet its short-term obligations.
The quick ratio experienced a significant anomaly in Q3 2022 with a value of 4.11, which is unusually high and may have been influenced by specific events or accounting factors during that period. In comparison, the quick ratios for the remaining quarters generally fluctuated within a narrower range between 0.90 and 1.06.
Overall, the trend in the quick ratio for Celanese Corp indicates that the company has generally maintained sufficient liquid assets to cover its short-term liabilities, although there have been fluctuations in this metric over the recent quarters. It would be beneficial to further investigate the underlying reasons for the significant variation in the quick ratio, such as changes in working capital management or financial operations during the anomalous period in Q3 2022.
Peer comparison
Dec 31, 2023