Concentra Group Holdings Parent, Inc. (CON)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 31,374 | 37,657 | — |
| Short-term investments | US$ in thousands | — | — | — |
| Total current liabilities | US$ in thousands | 274,634 | 279,626 | — |
| Cash ratio | 0.11 | 0.13 | — |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($31,374K
+ $—K)
÷ $274,634K
= 0.11
The cash ratio of Concentra Group Holdings Parent, Inc. has been showing a decreasing trend over the past two years. As of December 31, 2023, the cash ratio stands at 0.11, which indicates that the company has $0.11 in cash for every $1 of current liabilities. This suggests a slight decrease in the company's ability to cover its short-term liabilities solely with its cash and cash equivalents compared to the previous year when the ratio was 0.13 as of December 31, 2022.
Given that there is no data available for the cash ratio for December 31, 2021, it is difficult to assess the trend over a longer period accurately. However, the declining cash ratio from 2022 to 2023 may raise concerns about the company's liquidity position and its ability to meet its short-term obligations using its available cash reserves. Further analysis of the company's overall liquidity position and operating cash flow would provide a more comprehensive assessment of its financial health.
Peer comparison
Dec 31, 2023