CSX Corporation (CSX)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,353,000 | 1,958,000 | 2,239,000 | 3,129,000 | 958,000 |
| Short-term investments | US$ in thousands | 83,000 | 129,000 | 77,000 | 2,000 | 996,000 |
| Total current liabilities | US$ in thousands | 3,224,000 | 2,471,000 | 2,233,000 | 2,019,000 | 2,151,000 |
| Cash ratio | 0.45 | 0.84 | 1.04 | 1.55 | 0.91 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,353,000K
+ $83,000K)
÷ $3,224,000K
= 0.45
The cash ratio of CSX Corp. has shown a decreasing trend over the past five years. The ratio has declined from 1.60 in 2020 to 0.48 in 2023. This indicates that the company has less cash and cash equivalents available to cover its current liabilities in 2023 compared to previous years. A lower cash ratio may suggest potential liquidity challenges or reduced ability to meet short-term obligations promptly. It is important for CSX Corp. to monitor and manage its cash position effectively to ensure financial stability and meet its immediate financial obligations.
Peer comparison
Dec 31, 2023