CNX Resources Corp (CNX)

Quick ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash	US$ in thousands	17,198	443	21,321	3,565	15,617
Short-term investments	US$ in thousands	—	729,454	14,600	228	141
Receivables	US$ in thousands	197,406	133,991	354,642	339,118	150,255
Total current liabilities	US$ in thousands	1,122,580	822,998	1,312,800	954,576	441,312
Quick ratio		0.19	1.05	0.30	0.36	0.38

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($17,198K + $—K + $197,406K) ÷ $1,122,580K
= 0.19

The quick ratio of CNX Resources Corp has displayed fluctuating trends over the past five years. As of December 31, 2020, the quick ratio stood at 0.38, indicating that the company may have had difficulty meeting its short-term obligations using only its most liquid assets. This ratio decreased slightly to 0.36 by December 31, 2021, potentially signaling a further strain on the company's ability to cover immediate liabilities.

By December 31, 2022, the quick ratio dropped to 0.30, reaching a concerning level that may have raised liquidity risk concerns among stakeholders. However, there was a significant improvement in the company's liquidity position by December 31, 2023, with the quick ratio surging to 1.05. This sharp increase suggests that CNX Resources Corp had significantly boosted its liquid asset reserves relative to its current liabilities, indicating a healthier financial position.

Nevertheless, the following year, by December 31, 2024, the quick ratio plummeted to 0.19, dropping to a level that may indicate potential liquidity challenges once again for the company. Overall, the fluctuating quick ratio of CNX Resources Corp reflects varying levels of liquidity risk and highlights the importance of monitoring the company's ability to meet short-term obligations with readily available assets.