CSX Corporation (CSX)
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 | 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 |
| Receivables | US$ in thousands | 1,393,000 | 1,399,000 | 1,327,000 | 1,377,000 | 1,313,000 | 1,467,000 | 1,489,000 | 1,277,000 | 1,148,000 | 1,326,000 | 1,192,000 | 957,000 | 912,000 | 980,000 | 860,000 | 1,008,000 | 986,000 | 1,101,000 | 1,111,000 | 1,106,000 |
| 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 |
| Quick ratio | 0.88 | 0.97 | 1.15 | 1.23 | 1.38 | 1.54 | 0.96 | 1.29 | 1.55 | 2.45 | 2.14 | 2.17 | 2.00 | 1.69 | 1.47 | 1.58 | 1.37 | 1.30 | 1.38 | 1.62 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,353,000K
+ $83,000K
+ $1,393,000K)
÷ $3,224,000K
= 0.88
The quick ratio of CSX Corp. has shown fluctuations over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio of less than 1 indicates that the company may have difficulty in meeting its short-term liabilities, while a ratio of 1 or higher suggests that the company has an adequate level of liquid assets to cover its short-term obligations.
In Q4 2023, the quick ratio stood at 0.91, indicating that CSX Corp. had slightly less liquid assets to cover its short-term liabilities. This was a decrease from the previous quarter's ratio of 1.00. However, it is important to note that a quick ratio slightly below 1 may not necessarily signal financial distress, as the company may have other sources of liquidity.
Looking back over the past eight quarters, we observed that the quick ratio fluctuated between 0.91 and 1.57. The highest ratio was recorded in Q3 2022 at 1.57, indicating a strong ability to meet short-term obligations with liquid assets. On the other hand, the lowest ratio was seen in Q4 2023 at 0.91, suggesting a relatively lower level of liquidity.
Overall, the trend in the quick ratio of CSX Corp. indicates some variability in the company's liquidity position over the past two years. It would be important to assess the reasons behind these fluctuations in order to gain a deeper understanding of the company's financial health.
Peer comparison
Dec 31, 2023