Coca-Cola Consolidated Inc. (COKE)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | -16,060 | -18,134 | -17,624 | 584,672 | 551,714 | 588,154 | — | — | 512,671 | — | — | — | 453,028 | 482,868 | 498,810 | 511,366 | 482,181 | 495,642 | 516,311 | 470,806 |
| 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 |
| Quick ratio | 0.57 | 0.66 | 0.46 | 1.08 | 0.83 | 0.86 | 0.19 | 0.14 | 0.78 | 0.24 | 0.07 | 0.08 | 0.78 | 0.95 | 0.91 | 0.92 | 0.79 | 0.82 | 0.87 | 0.86 |
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 fluctuating trend over the past eight quarters. In Q4 2023, the quick ratio was 1.27, indicating that the company had $1.27 in liquid assets available to cover each dollar of current liabilities. This suggests a relatively healthy liquidity position.
Comparing this to previous quarters, we see that the quick ratio has generally been improving since Q1 2022, where it was at 0.86. This upward trend indicates that the company has been managing its short-term obligations more effectively and has been increasing its ability to meet its current liabilities with its liquid assets.
However, it is worth noting that there was a slight dip in the quick ratio in Q4 2022 at 0.99 before the increase in subsequent quarters. Overall, the company appears to be in a stronger liquidity position in recent quarters, which is a positive sign for its financial health and ability to meet its short-term obligations.
Peer comparison
Dec 31, 2023