CNX Resources Corp (CNX)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	443	21,321	3,565	15,617	16,283
Short-term investments	US$ in thousands	729,454	14,600	228	141	—
Receivables	US$ in thousands	133,991	354,642	339,118	150,255	209,584
Total current liabilities	US$ in thousands	822,998	1,312,800	954,576	441,312	528,939
Quick ratio		1.05	0.30	0.36	0.38	0.43

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($443K + $729,454K + $133,991K) ÷ $822,998K
= 1.05

The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1.0 indicates that a company may have difficulty paying off its current liabilities immediately.

Over the past five years, CNX Resources Corp's quick ratio has shown fluctuating trends. In 2023, the quick ratio stands at 0.49, which suggests that the company may potentially face challenges in meeting its short-term obligations with its readily available liquid assets. This is a slight improvement compared to 2022 when the quick ratio was 0.42, indicating a slight increase in liquidity.

When compared to 2021 and 2020, the quick ratio was higher at 0.48 and 0.60, respectively, indicating better liquidity positions in those years. However, there has been a notable decrease in liquidity since 2019 when the quick ratio was at a relatively healthier level of 0.93, signifying a significant decrease in the ability to cover short-term obligations with available liquid assets.

Overall, CNX Resources Corp's quick ratio has been on a downward trend over the past five years, indicating a potential decrease in the company's short-term liquidity and ability to cover immediate obligations with its most liquid assets. This trend may raise concerns about the company's ability to manage short-term financial obligations effectively.