CNX Resources Corp (CNX)
Liquidity ratios
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 0.33 | 0.37 | 0.41 | 0.53 | 0.51 | 0.30 | 0.58 | 0.50 | 0.44 | 0.32 | 0.30 | 0.20 | 0.48 | 0.33 | 0.41 | 0.61 | 0.62 | 0.65 | 0.90 | 1.17 |
| Quick ratio | 0.19 | 0.17 | 0.17 | 0.16 | 0.17 | 0.11 | 0.21 | 0.23 | 0.30 | 0.22 | 0.23 | 0.13 | 0.36 | 0.15 | 0.26 | 0.41 | 0.38 | 0.46 | 0.44 | 0.50 |
| Cash ratio | 0.02 | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.05 | 0.02 | 0.03 | 0.01 | 0.00 | 0.01 | 0.00 | 0.00 | 0.05 | 0.06 | 0.04 | 0.30 | 0.04 | 0.06 |
CNX Resources Corp's liquidity ratios indicate fluctuations in its ability to meet short-term obligations and manage cash effectively over the analyzed period. The current ratio has shown a declining trend from 1.17 as of March 31, 2020, to 0.33 as of September 30, 2021, before slightly recovering to 0.33 by December 31, 2024. This ratio measures the company's ability to cover its current liabilities with its current assets, with a ratio below 1 indicating potential difficulty in meeting short-term obligations.
The quick ratio, which provides a more conservative measure by excluding inventory from current assets, also exhibited a decreasing trajectory from 0.50 on March 31, 2020, to 0.17 on June 30, 2024. This suggests that the company's ability to meet short-term liabilities using only its most liquid assets has weakened over time.
Furthermore, the cash ratio, which reflects the company's ability to cover its current liabilities with its cash and cash equivalents, has been relatively low throughout the period, ranging from 0.00 to 0.30. This indicates a limited ability to pay off immediate obligations solely with available cash resources.
Overall, CNX Resources Corp's liquidity ratios have shown a concerning trend of deterioration, particularly in its ability to meet short-term obligations with liquid assets. Investors and creditors may view these trends as signals of potential liquidity challenges that need to be carefully monitored.
Additional liquidity measure
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash conversion cycle | days | -221.98 | -257.29 | -267.66 | -389.58 | -334.80 | -441.10 | -341.58 | -393.84 | -362.88 | -288.50 | -307.72 | -276.59 | -282.52 | -161.85 | -195.57 | -181.86 | -17.91 | -19.49 | -14.86 | -28.88 |
CNX Resources Corp has exhibited a consistently negative cash conversion cycle over the reviewed periods. The cash conversion cycle represents the time it takes for a company to convert its investments in inventory and other resources into cash flows from sales. Negative values indicate that the company is efficient in managing its working capital.
The company achieved a peak negative cash conversion cycle of -441.10 days on September 30, 2023, indicating that CNX Resources Corp was able to convert its resources into cash very quickly during that period. However, the cash conversion cycle fluctuated over time, with some periods showing relatively lower efficiency in cash conversion.
Overall, the negative values of the cash conversion cycle indicate that CNX Resources Corp has been effective in managing its working capital and converting its investments into cash flows efficiently across the reviewed periods. This signifies a strong position in managing liquidity and a proactive approach to optimizing cash flow operations.