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.