CNX Resources Corp (CNX)

Cash ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	443	21,321	3,565	15,617	16,283
Short-term investments	US$ in thousands	729,454	14,600	228	141	—
Total current liabilities	US$ in thousands	822,998	1,312,800	954,576	441,312	528,939
Cash ratio		0.89	0.03	0.00	0.04	0.03

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($443K + $729,454K) ÷ $822,998K
= 0.89

The cash ratio of CNX Resources Corp has varied over the past five years. In 2019, the company had a relatively high cash ratio of 0.53, indicating a strong ability to cover its short-term liabilities with cash. However, this ratio dropped to 0.26 in 2020, suggesting a lower level of liquidity.

In 2021, the cash ratio further decreased to 0.12, signaling a potential strain on the company's ability to meet its short-term obligations with available cash. There was a significant improvement in 2022, with the cash ratio increasing to 0.15, although still below the levels seen in 2019.

The most recent data for 2023 shows a higher cash ratio of 0.33, indicating an improvement in the company's liquidity position compared to the previous year. However, it's essential to monitor this ratio over time to ensure CNX Resources Corp maintains sufficient liquidity to meet its short-term financial obligations.