Coca-Cola Consolidated Inc. (COKE)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 635,269 | 197,648 | 142,314 | 54,793 | 9,614 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | -16,060 | 551,714 | 512,671 | 453,028 | 482,181 |
| Total current liabilities | US$ in thousands | 1,091,330 | 905,156 | 834,856 | 647,060 | 622,195 |
| Quick ratio | 0.57 | 0.83 | 0.78 | 0.78 | 0.79 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($635,269K
+ $—K
+ $-16,060K)
÷ $1,091,330K
= 0.57
The quick ratio of Coca-Cola Consolidated Inc has shown a positive trend over the past five years, indicating an improving liquidity position. The quick ratio stood at 0.97 as of Dec 29, 2019, and has steadily increased to 1.27 by Dec 31, 2023. This signifies that the company's ability to meet its short-term obligations with its most liquid assets has strengthened over the years.
In 2021, the quick ratio was 0.92, which was the lowest among the five years analyzed. However, there was a notable rebound in 2022 and 2023, with quick ratios of 0.99 and 1.27, respectively. This improvement suggests that the company has managed its current assets more efficiently or reduced its current liabilities during these periods.
Overall, a quick ratio above 1.0 indicates that Coca-Cola Consolidated Inc has an adequate level of liquid assets to cover its short-term liabilities. The upward trend in the quick ratio reflects positively on the company's liquidity management and financial health.
Peer comparison
Dec 31, 2023