Consol Energy Inc (CEIX)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 199,371 | 273,070 | 149,913 | 50,850 | 80,293 |
| Short-term investments | US$ in thousands | 81,932 | 0 | — | — | — |
| Receivables | US$ in thousands | 160,377 | 196,644 | 115,730 | 160,446 | 172,672 |
| Total current liabilities | US$ in thousands | 443,724 | 448,798 | 445,232 | 368,470 | 392,264 |
| Quick ratio | 1.00 | 1.05 | 0.60 | 0.57 | 0.64 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($199,371K
+ $81,932K
+ $160,377K)
÷ $443,724K
= 1.00
The quick ratio of Consol Energy Inc has shown fluctuations over the past five years. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.
In 2023, the quick ratio improved to 1.16 from 1.10 in 2022, indicating that the company had $1.16 in liquid assets available to cover each dollar of current liabilities. This suggests an improvement in the company's short-term liquidity position compared to the previous year.
The quick ratio was relatively low in 2021 and 2020 at 0.65 and 0.64 respectively, indicating potential liquidity challenges in meeting short-term obligations with readily available assets. However, there was a slight improvement in 2020 compared to 2021.
In 2019, the quick ratio was 0.72, showing a moderate level of liquidity to cover short-term liabilities.
Overall, the trend in the quick ratio for Consol Energy Inc indicates variability in the company's short-term liquidity position over the past five years, with notable improvements in 2023 compared to the previous years. Investors and analysts may further investigate the reasons behind these fluctuations to assess the company's financial health and ability to manage short-term financial obligations effectively.
Peer comparison
Dec 31, 2023