Consolidated Communications (CNSL)
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 | 4,765 | 89,617 | 202,578 | 247,877 | 325,852 | 462,049 | 18,019 | 74,171 | 99,635 | 98,682 | 199,314 | 325,142 | 155,561 | 99,719 | 45,876 | 14,139 | 12,395 | 6,178 | 10,450 | 6,724 |
Short-term investments | US$ in thousands | — | — | 1,039 | 87,951 | 87,951 | 6,148 | 25,005 | 85,767 | 110,801 | 154,963 | 89,967 | 110,801 | 111,665 | 111,555 | — | — | — | — | — | — |
Receivables | US$ in thousands | 121,194 | 107,361 | 100,827 | 108,471 | 119,675 | 115,985 | 117,479 | 118,596 | 133,362 | 133,524 | 128,601 | 125,677 | 137,646 | 119,076 | 116,493 | 122,340 | 120,016 | 125,908 | 133,535 | 132,326 |
Total current liabilities | US$ in thousands | 317,245 | 318,121 | 316,029 | 318,673 | 266,904 | 303,528 | 296,501 | 302,423 | 285,545 | 321,074 | 275,432 | 274,724 | 270,470 | 263,127 | 224,757 | 237,674 | 244,296 | 258,381 | 264,111 | 285,028 |
Quick ratio | 0.40 | 0.62 | 0.96 | 1.39 | 2.00 | 1.92 | 0.54 | 0.92 | 1.20 | 1.21 | 1.52 | 2.04 | 1.50 | 1.26 | 0.72 | 0.57 | 0.54 | 0.51 | 0.55 | 0.49 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($4,765K
+ $—K
+ $121,194K)
÷ $317,245K
= 0.40
Consolidated Communications Holdings Inc's quick ratio has exhibited volatility over the past eight quarters. The quick ratio is a measure of a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 suggests that the company may have difficulty meeting its short-term obligations.
In Q4 2023, the quick ratio stood at 0.59, indicating that the company may face challenges in meeting its short-term obligations with its current quick assets. This ratio improved in Q3 2023 to 0.79 but remained below 1, signaling continued liquidity concerns.
The quick ratio significantly improved in Q2 2023 to 1.17, moving into a more comfortable range above 1. This improvement suggests a better ability to cover short-term liabilities with quick assets. The ratio further improved in Q1 2023 to 1.61, indicating a strong liquidity position in the short term.
Comparing these recent quarters to earlier periods, in Q4 2022, the quick ratio was relatively high at 2.24, demonstrating robust liquidity. This ratio decreased in Q3 2022 to 2.11 but remained well above 1, indicating a strong ability to cover short-term obligations.
However, the quick ratio declined notably in Q2 2022 to 0.74, suggesting a decrease in liquidity and potential difficulty in meeting short-term obligations. The ratio then improved in Q1 2022 to 1.13, moving back above the critical threshold of 1.
In summary, Consolidated Communications Holdings Inc's quick ratio fluctuated over the analyzed quarters, reflecting varying levels of liquidity. Investors and stakeholders should monitor the company's quick ratio trends to assess its short-term liquidity position and ability to meet immediate financial obligations.
Peer comparison
Dec 31, 2023