Centene Corp (CNC)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 17,193,000 | 12,074,000 | 13,118,000 | 10,800,000 | 12,123,000 |
| Short-term investments | US$ in thousands | 2,459,000 | 2,321,000 | 1,539,000 | 1,580,000 | 863,000 |
| Receivables | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 36,716,000 | 28,464,000 | 25,765,000 | 21,585,000 | 12,932,000 |
| Quick ratio | 0.54 | 0.51 | 0.57 | 0.57 | 1.00 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($17,193,000K
+ $2,459,000K
+ $—K)
÷ $36,716,000K
= 0.54
The quick ratio of Centene Corp. has exhibited a fluctuating trend over the past five years, ranging from 0.58 to 0.64. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term liabilities with its current liquid assets alone.
Although the quick ratio has not consistently surpassed the 1.0 threshold, it has generally remained relatively stable within the range of 0.58 to 0.64. This suggests that Centene Corp. may have had some challenges in meeting its short-term obligations with its liquid assets alone. Investors and analysts may want to further investigate the components of its current assets and liabilities to assess the company's liquidity position more comprehensively.
Peer comparison
Dec 31, 2023