Centene Corp (CNC)
Quick 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 | 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 |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Quick 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
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 shown some fluctuations over the past eight quarters, ranging from 0.57 to 0.67. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A higher quick ratio indicates a better ability to cover short-term liabilities.
From the data provided, we observe that the quick ratio has generally been above 0.60, which could indicate that Centene Corp. has had a relatively strong ability to cover its short-term obligations. However, the ratio decreased to 0.57 in Q2 2023, which might raise some concerns about the company's liquidity position during that period.
Overall, the trend of Centene Corp.'s quick ratio shows a mix of strength and variability, suggesting the need for careful monitoring of the company's liquidity position to ensure that it can meet its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023