Consol Energy Inc (CEIX)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 199,371 | 273,070 | 149,913 | 50,850 | 80,293 |
| Short-term investments | US$ in thousands | 81,932 | 0 | — | — | — |
| Total current liabilities | US$ in thousands | 443,724 | 448,798 | 445,232 | 368,470 | 392,264 |
| Cash ratio | 0.63 | 0.61 | 0.34 | 0.14 | 0.20 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($199,371K
+ $81,932K)
÷ $443,724K
= 0.63
The cash ratio of Consol Energy Inc has shown an increasing trend over the past five years, indicating an improvement in the company's ability to meet its short-term obligations using its readily available cash and cash equivalents. The cash ratio stood at 0.79 as of December 31, 2023, which means that for every dollar of current liabilities, Consol Energy Inc has $0.79 in cash and cash equivalents on hand.
This upward trajectory in the cash ratio reflects a stronger liquidity position for the company, suggesting that it may be better equipped to weather financial downturns or unexpected expenses. Additionally, the consistent improvement in the cash ratio demonstrates efficient cash management practices within the organization, as it has been steadily increasing since December 31, 2019.
Overall, the trend in Consol Energy Inc's cash ratio highlights a positive liquidity position and indicates a healthier financial position compared to previous years, providing a favorable outlook for meeting short-term financial obligations.
Peer comparison
Dec 31, 2023