Clean Harbors Inc (CLH)
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 | 444,698 | 335,965 | 238,776 | 304,307 | 492,603 | 449,023 | 344,631 | 339,584 | 452,575 | 646,663 | 595,574 | 496,383 | 519,101 | 475,706 | 447,366 | 432,205 | 371,991 | 282,233 | 204,455 | 167,371 |
| Short-term investments | US$ in thousands | 106,101 | 84,007 | 87,346 | 71,818 | 62,033 | 65,034 | 70,797 | 75,364 | 81,724 | 64,844 | 70,683 | 74,320 | 51,857 | 56,639 | 59,326 | 62,143 | 42,421 | 46,877 | 55,198 | 57,477 |
| Total current liabilities | US$ in thousands | 1,037,540 | 975,387 | 914,415 | 926,837 | 1,020,090 | 1,017,910 | 990,058 | 914,139 | 925,314 | 739,901 | 711,069 | 650,553 | 636,145 | 641,061 | 604,940 | 658,412 | 720,100 | 680,042 | 633,690 | 597,510 |
| Cash ratio | 0.53 | 0.43 | 0.36 | 0.41 | 0.54 | 0.51 | 0.42 | 0.45 | 0.58 | 0.96 | 0.94 | 0.88 | 0.90 | 0.83 | 0.84 | 0.75 | 0.58 | 0.48 | 0.41 | 0.38 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($444,698K
+ $106,101K)
÷ $1,037,540K
= 0.53
The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. Clean Harbors, Inc.'s cash ratio has shown some fluctuations over the past eight quarters, ranging from 0.46 to 0.62.
In Q4 2023, the cash ratio was 0.61, indicating that Clean Harbors had $0.61 in cash and cash equivalents for every dollar of current liabilities. This ratio improved from the previous quarter (Q3 2023) when it was 0.51. The increase in the cash ratio from Q3 2023 to Q4 2023 suggests an improvement in Clean Harbors' ability to meet its short-term obligations using its available cash resources.
Looking at the trend over the past year, the cash ratio has generally remained above 0.50, indicating that Clean Harbors has maintained a healthy level of liquidity to cover its short-term liabilities. However, there was a slight dip in Q2 2023 when the cash ratio dropped to 0.46 before gradually increasing again.
Overall, Clean Harbors, Inc.'s cash ratio performance shows a consistent ability to manage its short-term financial obligations with its cash holdings, demonstrating financial stability in terms of liquidity management.
Peer comparison
Dec 31, 2023