CSX Corporation (CSX)
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 | 1,353,000 | 1,360,000 | 956,000 | 1,291,000 | 1,958,000 | 2,311,000 | 724,000 | 1,936,000 | 2,239,000 | 2,179,000 | 2,986,000 | 2,955,000 | 3,129,000 | 2,898,000 | 2,391,000 | 1,995,000 | 958,000 | 1,521,000 | 853,000 | 1,188,000 |
| Short-term investments | US$ in thousands | 83,000 | 79,000 | 78,000 | 178,000 | 129,000 | 88,000 | 88,000 | 96,000 | 77,000 | 2,059,000 | 4,000 | 2,000 | 2,000 | 1,000 | 203,000 | 487,000 | 996,000 | 1,037,000 | 878,000 | 822,000 |
| Total current liabilities | US$ in thousands | 3,224,000 | 2,934,000 | 2,055,000 | 2,321,000 | 2,471,000 | 2,508,000 | 2,393,000 | 2,575,000 | 2,233,000 | 2,268,000 | 1,951,000 | 1,800,000 | 2,019,000 | 2,294,000 | 2,347,000 | 2,211,000 | 2,151,000 | 2,805,000 | 2,053,000 | 1,926,000 |
| Cash ratio | 0.45 | 0.49 | 0.50 | 0.63 | 0.84 | 0.96 | 0.34 | 0.79 | 1.04 | 1.87 | 1.53 | 1.64 | 1.55 | 1.26 | 1.11 | 1.12 | 0.91 | 0.91 | 0.84 | 1.04 |
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 fluctuations over the past eight quarters. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents.
Looking at the trend, the cash ratio has been decreasing since Q4 2022, where it was at 0.89, to the latest available data in Q4 2023 at 0.48. This downward trend indicates that CSX Corp. may have been facing challenges in maintaining enough liquid assets to cover its short-term obligations.
In Q3 2022, the cash ratio was at its peak of 0.99, indicating a strong ability to cover its short-term liabilities with cash. However, by Q2 2022, the ratio dropped significantly to 0.38, signaling potential liquidity issues during that period.
Overall, the downward trend in the cash ratio over the past several quarters suggests that CSX Corp. may need to carefully manage its cash flow and liquidity position to ensure it can meet its short-term obligations efficiently in the future.
Peer comparison
Dec 31, 2023