CSX Corporation (CSX)
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 | 3,384,000 | 3,359,000 | 2,911,000 | 3,355,000 | 3,849,000 | 4,310,000 | 2,784,000 | 3,757,000 | 3,873,000 | 3,897,000 | 4,573,000 | 4,305,000 | 4,441,000 | 4,228,000 | 3,791,000 | 3,821,000 | 3,278,000 | 3,960,000 | 3,186,000 | 3,479,000 |
| 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 |
| Current ratio | 1.05 | 1.14 | 1.42 | 1.45 | 1.56 | 1.72 | 1.16 | 1.46 | 1.73 | 1.72 | 2.34 | 2.39 | 2.20 | 1.84 | 1.62 | 1.73 | 1.52 | 1.41 | 1.55 | 1.81 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $3,384,000K ÷ $3,224,000K
= 1.05
The current ratio of CSX Corp. has fluctuated over the past eight quarters, ranging from 1.05 to 1.72. A current ratio above 1 indicates that the company has more current assets than current liabilities, which is generally considered positive as it suggests the company is able to meet its short-term obligations.
In Q4 2022, the current ratio was at its highest level of 1.72, signaling strong liquidity and ability to cover short-term liabilities comfortably. However, the ratio decreased in subsequent quarters, reaching its lowest level of 1.05 in Q4 2023. A current ratio below 1 may indicate potential liquidity issues and difficulty in meeting short-term obligations.
The significant decrease in the current ratio from Q1 2023 to Q4 2023 is a point of concern, as it suggests a potential deterioration in the company's short-term liquidity position. Investors and analysts may want to further investigate the reasons behind this drop and assess the company's ability to manage its short-term financial obligations moving forward.
Peer comparison
Dec 31, 2023