Centene Corp (CNC)
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 | 17,193,000 | 18,190,000 | 17,170,000 | 15,853,000 | 12,074,000 | 14,987,000 | 13,435,000 | 11,237,000 | 13,118,000 | 13,423,000 | 11,018,000 | 9,627,000 | 10,800,000 | 12,198,000 | 12,798,000 | 9,308,000 | 12,123,000 | 6,215,000 | 6,875,000 | 6,345,000 |
| Short-term investments | US$ in thousands | 2,459,000 | 2,241,000 | 2,212,000 | 2,135,000 | 2,321,000 | 2,191,000 | 1,794,000 | 1,668,000 | 1,539,000 | 1,517,000 | 1,566,000 | 1,662,000 | 1,580,000 | 1,497,000 | 1,558,000 | 1,386,000 | 863,000 | 804,000 | 765,000 | 697,000 |
| Total current liabilities | US$ in thousands | 36,716,000 | 36,851,000 | 31,306,000 | 32,857,000 | 28,464,000 | 31,330,000 | 29,086,000 | 29,685,000 | 25,765,000 | 25,042,000 | 23,642,000 | 22,279,000 | 21,585,000 | 21,795,000 | 21,918,000 | 21,651,000 | 12,932,000 | 13,280,000 | 12,653,000 | 13,143,000 |
| Cash ratio | 0.54 | 0.55 | 0.62 | 0.55 | 0.51 | 0.55 | 0.52 | 0.43 | 0.57 | 0.60 | 0.53 | 0.51 | 0.57 | 0.63 | 0.65 | 0.49 | 1.00 | 0.53 | 0.60 | 0.54 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($17,193,000K
+ $2,459,000K)
÷ $36,716,000K
= 0.54
The cash ratio for Centene Corp. has shown fluctuations over the past eight quarters, ranging from 0.12 to 0.22. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents.
In Q4 2023, the cash ratio was at its highest level of 0.22, indicating that Centene had $0.22 in cash and cash equivalents for every $1 of short-term liabilities. This suggests the company had a stronger liquidity position to meet its immediate obligations.
However, in Q2 2023 and Q1 2023, the cash ratio was relatively lower at 0.13 and 0.12, respectively. This implies that Centene had less available cash to cover its short-term liabilities during these periods.
Overall, the trend in Centene's cash ratio has been somewhat volatile. Investors and stakeholders should monitor the company's liquidity position closely, especially during periods of lower cash ratios, to ensure Centene can meet its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023