Chesapeake Utilities Corporation (CPK)
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 | 4,904 | 1,793 | 4,169 | 3,065 | 6,204 | 2,480 | 4,186 | 5,208 | 4,976 | 5,886 | 5,011 | 5,575 | 3,499 | 3,056 | 3,590 | 3,982 | 6,985 | 4,320 | 7,254 | 7,975 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 11,490 | 11,745 | 10,883 | 10,776 | 9,680 | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 386,384 | 288,410 | 255,157 | 246,779 | 369,023 | 328,851 | 287,291 | 279,713 | 376,394 | 354,542 | 322,256 | 316,002 | 329,032 | 359,972 | 429,823 | 402,496 | 423,324 | 446,247 | 512,415 | 508,569 |
| Cash ratio | 0.01 | 0.01 | 0.02 | 0.01 | 0.02 | 0.01 | 0.01 | 0.02 | 0.01 | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.02 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($4,904K
+ $—K)
÷ $386,384K
= 0.01
The cash ratio of Chesapeake Utilities Corp has shown a fluctuating trend over the past eight quarters. The ratio has ranged from a low of 0.11 in Q4 2023 to a high of 0.22 in Q3 2022. This indicates that the company has a varying ability to cover its short-term liabilities with its available cash on hand.
A cash ratio of less than 1.0 suggests that Chesapeake Utilities Corp may not have sufficient liquid assets to cover its current liabilities. The decreasing trend in the cash ratio from 0.22 in Q3 2022 to 0.11 in Q4 2023 may raise concerns about the company's liquidity position and its ability to meet short-term obligations.
It is important for investors and stakeholders to monitor Chesapeake Utilities Corp's cash ratio closely to assess its short-term liquidity health and financial stability. A sustained improvement in the cash ratio over upcoming quarters would be reassuring, indicating a stronger ability to meet current liabilities with available cash reserves.
Peer comparison
Dec 31, 2023