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

Company name
Symbol
Cash ratio
Chesapeake Utilities Corporation
CPK
0.01
ONEOK Inc
OKE
0.10
Southwest Gas Holdings Inc
SWX
0.06