Consol Energy Inc (CEIX)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 160,377 | 158,981 | 124,174 | 185,613 | 196,644 | 147,370 | 149,322 | 189,788 | 115,730 | 103,689 | 115,308 | 166,231 | 160,446 | 145,296 | 127,829 | 146,976 | 172,672 | 138,997 | 139,750 | 145,828 |
| 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 |
| Quick ratio | 1.00 | 0.90 | 1.00 | 1.15 | 1.05 | 0.81 | 0.71 | 0.73 | 0.60 | 0.52 | 0.71 | 0.69 | 0.57 | 0.43 | 0.43 | 0.57 | 0.64 | 0.66 | 0.72 | 0.72 |
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 varying levels over the past eight quarters. In Q4 2023 and Q2 2023, the quick ratio stood relatively strong at 1.16, indicating that the company had $1.16 in liquid assets available to cover each dollar of its current liabilities. This suggests a healthy liquidity position for meeting short-term obligations.
However, in Q3 2023 and Q1 2023, the quick ratio decreased to 1.06, showing a slight decline in liquidity compared to the previous quarters. While still above the desirable benchmark of 1.0, this downward trend may warrant closer monitoring to ensure the company can readily meet its short-term financial obligations.
Looking further back, the quick ratio was at 1.10 in Q4 2022, indicating a stronger liquidity position compared to Q3 2023 and Q1 2023. The quick ratio saw a notable improvement from Q2 2022 to Q1 2022, where it increased from 0.74 to 0.69, although it remained below 1.0 during these periods.
Overall, Consol Energy Inc's quick ratio has demonstrated some fluctuations in liquidity over the past eight quarters. It is essential for the company to sustain a healthy quick ratio above 1.0 to ensure it can efficiently cover its short-term liabilities with liquid assets.
Peer comparison
Dec 31, 2023