Clearwater Paper Corporation (CLW)
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 | 42,000 | 110,200 | 41,700 | 16,700 | 53,700 | 50,800 | 69,500 | 36,400 | 25,200 | 27,800 | 60,900 | 57,100 | 35,900 | 47,500 | 48,200 | 60,800 | 20,000 | 7,800 | 41,800 | 12,200 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 15 | — | — |
| Total current liabilities | US$ in thousands | 286,000 | 260,900 | 263,500 | 265,500 | 312,000 | 295,100 | 300,300 | 256,100 | 254,100 | 256,900 | 255,900 | 235,300 | 244,800 | 239,600 | 247,500 | 290,400 | 280,400 | 294,993 | 543,724 | 515,220 |
| Cash ratio | 0.15 | 0.42 | 0.16 | 0.06 | 0.17 | 0.17 | 0.23 | 0.14 | 0.10 | 0.11 | 0.24 | 0.24 | 0.15 | 0.20 | 0.19 | 0.21 | 0.07 | 0.03 | 0.08 | 0.02 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($42,000K
+ $—K)
÷ $286,000K
= 0.15
Clearwater Paper Corp's cash ratio indicates its ability to cover its short-term liabilities with cash and cash equivalents. The cash ratio fluctuated over the past eight quarters, ranging from 0.14 to 0.46. The higher the ratio, the better the company's ability to cover its short-term obligations.
In Q3 2023, the cash ratio was relatively high at 0.46, suggesting a strong ability to meet short-term liabilities with cash on hand. However, this ratio dropped in Q1 and Q2 2023 to 0.14 and 0.21, respectively, indicating a potential decrease in liquidity over those periods.
Comparing the latest ratio to the previous quarters, Q4 2023 at 0.21 sits in the middle range of the ratios observed. It is important for investors and creditors to monitor Clearwater Paper Corp's cash ratio over time to assess its liquidity position and financial health.