Century Aluminum Company (CENX)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 88,800 | 54,300 | 29,000 | 81,600 | 38,900 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 763,000 | 410,700 | 547,400 | 240,300 | 233,700 |
| Cash ratio | 0.12 | 0.13 | 0.05 | 0.34 | 0.17 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($88,800K
+ $—K)
÷ $763,000K
= 0.12
The cash ratio of Century Aluminum Company has fluctuated over the past five years, ranging from 0.05 to 0.34. In 2023, the cash ratio decreased to 0.12 from 0.13 in 2022, indicating a decline in the company's ability to cover its current liabilities with cash and cash equivalents. This may suggest a reduction in the company's short-term liquidity position as compared to the previous year. However, it is important to note that the cash ratio can vary based on the company's specific circumstances and industry norms. Further analysis of the company's overall financial health and liquidity position would be beneficial to assess the potential impact of the varying cash ratios over the years.
Peer comparison
Dec 31, 2023