Consol Energy Inc (CEIX)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 601,006 | 579,394 | 578,424 | 611,988 | 598,483 | 558,297 | 540,730 | 528,392 | 386,340 | 384,241 | 371,952 | 336,742 | 292,941 | 251,296 | 242,980 | 310,743 | 338,029 | 357,124 | 396,353 | 406,153 |
| 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 |
| Current ratio | 1.35 | 1.28 | 1.40 | 1.38 | 1.33 | 1.08 | 0.94 | 0.84 | 0.87 | 0.75 | 1.00 | 0.91 | 0.80 | 0.65 | 0.65 | 0.79 | 0.86 | 0.87 | 0.97 | 0.97 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $601,006K ÷ $443,724K
= 1.35
Consol Energy Inc's current ratio has shown a fluctuating trend over the past eight quarters. The company's current ratio ranged from a low of 0.84 in Q1 2022 to a high of 1.40 in Q2 2023.
A current ratio of less than 1 would typically indicate that the company may have difficulty meeting its short-term obligations with its current assets. Consol Energy Inc's current ratio has consistently been above 1 in the recent quarters, indicating that the company has had sufficient current assets to cover its short-term liabilities.
The increasing trend in the current ratio from 0.84 in Q1 2022 to 1.40 in Q2 2023 reflects an improving liquidity position for Consol Energy Inc. This indicates that the company may have better ability to meet its short-term obligations and fund its operations using its current assets.
However, it is essential to note that a very high current ratio may suggest that the company is not efficiently utilizing its current assets to generate revenue. Therefore, while a current ratio above 1 is generally considered favorable, it is important for Consol Energy Inc to strike a balance between liquidity and efficiency to optimize its financial performance.
Peer comparison
Dec 31, 2023