Concentra Group Holdings Parent, Inc. (CON)
Quick ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Jun 30, 2023 | Mar 31, 2023 | ||
|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 136,822 | 50,669 | 49,552 | 31,374 | — | -37,657 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 75,314 |
| Receivables | US$ in thousands | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 269,521 | 265,153 | 275,629 | 274,634 | — | — |
| Quick ratio | 0.51 | 0.19 | 0.18 | 0.11 | — | — |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($136,822K
+ $—K
+ $—K)
÷ $269,521K
= 0.51
The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 indicates that a company may have difficulty meeting its short-term liabilities.
Analyzing the quick ratio of Concentra Group Holdings Parent, Inc. over the past six quarters reveals a concerning trend. The quick ratio has fluctuated significantly, with values ranging from 0.11 to 0.51.
In the most recent quarter ending on September 30, 2024, the quick ratio improved to 0.51 compared to the previous quarter's ratio of 0.19. While this suggests a slight improvement in the company's ability to cover its short-term liabilities with its liquid assets, it is still below the desirable threshold of 1.
The quick ratio for Concentra Group Holdings Parent, Inc. was particularly low in the preceding quarters, with values of 0.19, 0.18, and 0.11 for June 30, 2024, March 31, 2024, and December 31, 2023, respectively. These ratios indicate a potential liquidity risk, as the company may struggle to meet its immediate financial obligations.
The lack of quick ratio data for the quarters ending June 30, 2023, and March 31, 2023, prevents a complete analysis over a longer time frame. However, based on the available data, Concentra Group Holdings Parent, Inc. appears to have faced challenges in maintaining a healthy level of liquidity in recent quarters.
Overall, the trend in Concentra Group Holdings Parent, Inc.'s quick ratio suggests a need for careful monitoring of the company's liquidity position to ensure it can meet its short-term obligations effectively.
Peer comparison
Sep 30, 2024