CNX Resources Corp (CNX)

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	443	8,653	22,765	2,799	21,321	1,594	238	8,570	3,565	365	39,365	29,610	15,617	150,132	19,607	31,833	16,283	5,484	32,611	23,972
Short-term investments	US$ in thousands	—	9,948	14,065	14,347	14,600	12,577	7,864	—	—	—	—	—	16,022	—	—	—	—	—	—	—
Receivables	US$ in thousands	133,991	91,355	109,072	144,223	354,642	484,524	453,474	268,260	339,118	260,640	168,394	157,433	150,255	81,226	191,283	217,577	209,584	119,643	250,312	281,776
Total current liabilities	US$ in thousands	822,998	991,018	692,013	704,908	1,312,800	2,258,030	2,031,970	2,127,340	954,576	1,767,350	809,195	457,907	441,312	507,961	476,524	500,351	528,939	621,624	623,245	588,495
Quick ratio		0.16	0.11	0.21	0.23	0.30	0.22	0.23	0.13	0.36	0.15	0.26	0.41	0.41	0.46	0.44	0.50	0.43	0.20	0.45	0.52

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($443K + $—K + $133,991K) ÷ $822,998K
= 0.16

The quick ratio of CNX Resources Corp has shown variability over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.

In Q4 2023, the quick ratio improved to 0.49 compared to the previous quarter, indicating an increase in the company's ability to cover its short-term liabilities using its quick assets. This improvement suggests better liquidity management or an increase in current assets relative to current liabilities.

The quick ratio was relatively low in Q3 2023 at 0.28, indicating a potential liquidity risk as the company may have had difficulty meeting its short-term obligations with its quick assets alone.

The quick ratio was relatively strong in Q2 2023 at 0.54, showing a favorable position in terms of liquidity. However, it declined in Q1 2023 to 0.46, although it remained above 1.0, indicating the company's quick assets may be able to cover its short-term liabilities.

Comparing the Q4 2023 quick ratio to the same quarter in the previous year, there has been an improvement from 0.42 to 0.49. This suggests that CNX Resources Corp has enhanced its ability to meet short-term obligations more effectively than in the corresponding quarter of the previous year.

Overall, while the quick ratio of CNX Resources Corp has fluctuated over the analyzed period, the recent improvement in Q4 2023 indicates a positive trend towards better liquidity management and financial health for the company.