Coca-Cola Consolidated Inc. (COKE)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 635,269 | 197,648 | 142,314 | 54,793 | 9,614 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,091,330 | 905,156 | 834,856 | 647,060 | 622,195 |
| Cash ratio | 0.58 | 0.22 | 0.17 | 0.08 | 0.02 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($635,269K
+ $—K)
÷ $1,091,330K
= 0.58
The cash ratio of Coca-Cola Consolidated Inc has shown a consistent increasing trend over the past five years, indicating an improvement in the company's ability to cover its short-term liabilities with cash and cash equivalents.
As of December 31, 2023, the cash ratio stands at 0.66, which means the company has $0.66 of cash and cash equivalents for every $1 of current liabilities. This represents a substantial increase from 0.32 in 2022, 0.26 in 2021, 0.20 in 2020, and 0.13 in 2019.
A cash ratio above 1.0 is generally considered healthy, as it implies that the company holds more cash than it owes in short-term liabilities. While Coca-Cola Consolidated Inc's cash ratio is below 1.0, the increasing trend over the years is a positive indication of the company's improving liquidity position and ability to meet its short-term obligations using readily available cash resources.
Peer comparison
Dec 31, 2023