Century Aluminum Company (CENX)
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 | 88,800 | 70,300 | 50,600 | 30,400 | 54,300 | 64,800 | 30,000 | 26,600 | 29,000 | 57,600 | 9,000 | 26,300 | 81,600 | 81,400 | 174,100 | 147,600 | 38,900 | 22,500 | 25,700 | 22,200 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 763,000 | 634,000 | 573,400 | 368,900 | 410,700 | 406,100 | 444,800 | 574,000 | 547,400 | 515,500 | 394,400 | 364,300 | 240,300 | 201,200 | 249,600 | 284,900 | 233,700 | 212,300 | 204,600 | 229,600 |
| Cash ratio | 0.12 | 0.11 | 0.09 | 0.08 | 0.13 | 0.16 | 0.07 | 0.05 | 0.05 | 0.11 | 0.02 | 0.07 | 0.34 | 0.40 | 0.70 | 0.52 | 0.17 | 0.11 | 0.13 | 0.10 |
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 few periods, with a range of values between 0.02 and 0.70. The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations without relying on external sources of funding.
The ratio peaked at 0.70 in June 2020, indicating a robust cash position relative to its short-term liabilities at that time. However, the ratio has since declined and experienced some volatility, dropping to 0.05 in March 2022 before rebounding to 0.16 in September 2022. This fluctuation suggests potential changes in the company's cash management practices or financial performance during these periods.
The most recent cash ratio of 0.12 as of December 31, 2023, indicates that Century Aluminum Company has improved its ability to cover short-term liabilities compared to the previous quarter but remains below the levels seen in late 2020 and early 2021. Investors and stakeholders may want to monitor the company's cash ratio over time to assess its liquidity position and ability to meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023