Concentra Group Holdings Parent, Inc. (CON)
Cash ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Jun 30, 2023 | Mar 31, 2023 | ||
|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 136,822 | 50,669 | 49,552 | 31,374 | — | -37,657 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 75,314 |
| Total current liabilities | US$ in thousands | 269,521 | 265,153 | 275,629 | 274,634 | — | — |
| Cash ratio | 0.51 | 0.19 | 0.18 | 0.11 | — | — |
September 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($136,822K
+ $—K)
÷ $269,521K
= 0.51
The cash ratio of Concentra Group Holdings Parent, Inc. has shown fluctuations over the past six quarters. The ratio was 0.51 as of September 30, 2024, indicating that the company had $0.51 in cash and cash equivalents for every $1 of current liabilities. This represents a significant improvement compared to the previous quarter, which had a cash ratio of 0.19 as of June 30, 2024.
The increasing trend in the cash ratio suggests that Concentra Group Holdings Parent, Inc. has been able to enhance its liquidity position and strengthen its ability to meet short-term obligations. This improvement may be attributed to better cash management practices, increased cash reserves, or reduced current liabilities.
It is worth noting that the cash ratio was relatively low in the previous quarters, with ratios of 0.18 as of March 31, 2024, and 0.11 as of December 31, 2023. The absence of data for the ratios for June 30, 2023, and March 31, 2023, limits the ability to draw a complete trend analysis.
Overall, the increasing cash ratio of Concentra Group Holdings Parent, Inc. reflects a positive liquidity position and suggests that the company may be better positioned to cover its short-term obligations with cash on hand. Further monitoring of this ratio will be necessary to assess the company's ongoing liquidity management and financial health.
Peer comparison
Sep 30, 2024