Corcept Therapeutics Incorporated (CORT)

Cash 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 and cash equivalents	US$ in thousands	135,551	111,800	172,377	299,942	66,329	50,243	35,346	61,862	77,617	94,688	95,430	52,381	76,190	30,560	58,523	84,477	31,269	44,948	58,141	49,650
Short-term investments	US$ in thousands	232,670	243,425	190,885	165,115	365,343	346,019	334,740	283,665	145,918	266,643	274,552	320,578	364,506	398,233	346,835	222,838	244,693	186,697	143,396	137,255
Total current liabilities	US$ in thousands	104,505	121,873	93,059	78,865	72,491	53,068	49,057	57,244	47,541	44,757	45,402	40,601	47,494	43,048	42,243	34,075	38,841	32,396	30,381	34,218
Cash ratio		3.52	2.91	3.90	5.90	5.95	7.47	7.54	6.04	4.70	8.07	8.15	9.19	9.28	9.96	9.60	9.02	7.10	7.15	6.63	5.46

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($135,551K + $232,670K) ÷ $104,505K
= 3.52

The cash ratio of Corcept Therapeutics Inc has shown fluctuations over the past eight quarters. It indicates the company's ability to cover its short-term liabilities solely with its cash and cash equivalents.

In Q4 2023, the cash ratio was 3.92, indicating that for every dollar of current liabilities, the company had $3.92 of cash to cover those obligations. This is a decrease from the previous quarter's cash ratio of 3.20. The decreasing trend raises some concerns about the company's liquidity position.

Comparing Q4 2023 to the same quarter in the previous year (Q4 2022), there has been a noticeable decline from a cash ratio of 6.37 to 3.92. This suggests a significant decrease in the company's ability to meet its short-term obligations solely with cash reserves.

Overall, though the cash ratio has fluctuated in recent quarters, it remains above 1, indicating that Corcept Therapeutics Inc has sufficient cash to cover its short-term liabilities. However, the decreasing trend in the cash ratio should be monitored closely as it may indicate potential liquidity challenges in the future.