Consol Energy Inc (CEIX)
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 | 199,371 | 167,586 | 189,539 | 192,826 | 273,070 | 268,853 | 261,569 | 222,901 | 149,913 | 161,981 | 146,667 | 91,174 | 50,850 | 22,284 | 33,027 | 78,166 | 80,293 | 133,331 | 155,672 | 155,167 |
| Short-term investments | US$ in thousands | 81,932 | 81,009 | 100,699 | 129,327 | 0 | — | — | 46,107 | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 443,724 | 454,151 | 413,731 | 442,466 | 448,798 | 515,005 | 576,504 | 627,419 | 445,232 | 515,676 | 370,257 | 371,194 | 368,470 | 388,612 | 373,903 | 394,258 | 392,264 | 411,152 | 407,874 | 417,320 |
| Cash ratio | 0.63 | 0.55 | 0.70 | 0.73 | 0.61 | 0.52 | 0.45 | 0.43 | 0.34 | 0.31 | 0.40 | 0.25 | 0.14 | 0.06 | 0.09 | 0.20 | 0.20 | 0.32 | 0.38 | 0.37 |
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 some fluctuations over the past eight quarters. The ratio indicates the company's ability to cover its short-term liabilities with its readily available cash and cash equivalents. Consol Energy Inc's cash ratio ranged from a low of 0.39 in Q1 2022 to a high of 0.86 in Q2 2023.
Overall, the trend in the cash ratio appears to be somewhat volatile, with fluctuations observed between each quarter. It is important to note that a higher cash ratio is generally preferred as it indicates a more liquid position and greater ability to meet short-term obligations.
Consol Energy Inc's cash ratio has been above 0.5 consistently over the past few quarters, which suggests that the company has a relatively healthy level of liquidity to cover its short-term obligations. However, it would be beneficial for the company to maintain a more stable cash ratio over time to ensure a consistent ability to meet its short-term liabilities.
Further analysis of the company's cash management practices and working capital management may provide additional insights into the fluctuations observed in the cash ratio and help in determining the overall financial health and stability of Consol Energy Inc.
Peer comparison
Dec 31, 2023