Chesapeake Utilities Corporation (CPK)
Quick 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 | 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 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 75,615 | 50,332 | 46,675 | 62,310 | 65,422 | 53,184 | 52,487 | 63,167 | 75,942 | 57,292 | 49,682 | 64,858 | 69,775 | 64,158 | 56,522 | 60,539 | 69,612 | 45,604 | 59,892 | 83,157 |
| 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 |
| Quick ratio | 0.21 | 0.18 | 0.20 | 0.26 | 0.19 | 0.17 | 0.20 | 0.24 | 0.21 | 0.21 | 0.21 | 0.26 | 0.26 | 0.21 | 0.14 | 0.16 | 0.18 | 0.11 | 0.13 | 0.18 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($4,904K
+ $—K
+ $75,615K)
÷ $386,384K
= 0.21
The quick ratio, also known as the acid-test ratio, measures Chesapeake Utilities Corp's ability to meet its short-term obligations with its most liquid assets. A higher quick ratio indicates a stronger liquidity position.
Looking at the trend over the past eight quarters, the quick ratio has shown some fluctuations. In Q4 2023, the quick ratio was 0.39, which was lower compared to the previous quarter's ratio of 0.37. This suggests that the company may have had some challenges in meeting its short-term obligations with its quick assets in the most recent quarter.
However, when compared to the ratios from the earlier quarters, the quick ratio in Q4 2023 is still higher than some of the ratios from the previous year. For example, in Q4 2022, the quick ratio was 0.44, indicating a slight decline in liquidity over the past year.
Overall, while the recent quick ratio has decreased slightly, Chesapeake Utilities Corp's liquidity position remains relatively stable but is something to monitor closely to ensure the company can meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023