Chesapeake Utilities Corporation (CPK)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 185,699 | 137,466 | 136,769 | 159,504 | 193,976 | 169,203 | 145,046 | 152,968 | 170,336 | 132,993 | 110,553 | 128,552 | 136,431 | 119,321 | 98,558 | 111,927 | 134,826 | 114,875 | 124,242 | 153,640 |
| 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 |
| Current ratio | 0.48 | 0.48 | 0.54 | 0.65 | 0.53 | 0.51 | 0.50 | 0.55 | 0.45 | 0.38 | 0.34 | 0.41 | 0.41 | 0.33 | 0.23 | 0.28 | 0.32 | 0.26 | 0.24 | 0.30 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $185,699K ÷ $386,384K
= 0.48
The current ratio of Chesapeake Utilities Corp has shown fluctuations over the eight quarters analyzed. The ratio, which measures the company's ability to cover its short-term liabilities with its current assets, has ranged from a low of 0.48 to a high of 0.65 during this period.
A current ratio below 1 indicates that the company may have difficulty meeting its short-term obligations. Chesapeake Utilities Corp's current ratio has mostly been below 1, signaling potential liquidity challenges. The ratio peaked at 0.65 in Q1 2023, showing a slight improvement in the company's short-term liquidity position. However, in the most recent quarter, Q4 2023, the current ratio decreased back to 0.48, indicating a decline in liquidity compared to the previous quarter.
Overall, the trend in the current ratio suggests that Chesapeake Utilities Corp may need to closely monitor and manage its short-term liquidity in order to ensure it can meet its financial obligations as they come due.
Peer comparison
Dec 31, 2023