Coca-Cola Consolidated Inc. (COKE)
Cash 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 and cash equivalents | US$ in thousands | 635,269 | 616,217 | 430,172 | 289,781 | 197,648 | 163,244 | 188,803 | 127,085 | 142,314 | 186,878 | 54,204 | 51,828 | 54,793 | 164,823 | 77,550 | 47,748 | 9,614 | 5,989 | 5,692 | 8,497 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,091,330 | 907,833 | 891,982 | 812,575 | 905,156 | 876,695 | 977,433 | 894,071 | 834,856 | 768,296 | 743,952 | 683,907 | 647,060 | 683,990 | 634,230 | 607,990 | 622,195 | 613,173 | 601,952 | 559,141 |
| Cash ratio | 0.58 | 0.68 | 0.48 | 0.36 | 0.22 | 0.19 | 0.19 | 0.14 | 0.17 | 0.24 | 0.07 | 0.08 | 0.08 | 0.24 | 0.12 | 0.08 | 0.02 | 0.01 | 0.01 | 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 fluctuating trend over the past eight quarters. It had a value of 0.66 in Q4 2023, which was an increase compared to the previous quarter. This indicates that the company had $0.66 in cash and cash equivalents for every $1 of current liabilities in that quarter.
The cash ratio has generally increased since Q1 2022 when it was at 0.25. This improvement suggests that the company has been managing its short-term obligations more effectively by holding a higher proportion of cash reserves relative to its current liabilities.
However, it is important to note that the cash ratio can be influenced by various factors, including the company's cash management practices, liquidity position, and overall financial health. Further analysis in conjunction with other financial ratios and metrics would provide a more comprehensive assessment of Coca-Cola Consolidated Inc's financial performance and liquidity position.
Peer comparison
Dec 31, 2023