Corteva Inc (CTVA)
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 | 2,644,000 | 2,254,000 | 2,563,000 | 1,646,000 | 3,191,000 | 2,199,000 | 2,401,000 | 2,031,000 | 4,459,000 | 2,779,000 | 2,861,000 | 2,404,000 | 3,526,000 | 2,768,000 | 2,809,000 | 1,963,000 | 1,764,000 | 1,980,000 | 2,077,000 | 1,759,000 |
| Short-term investments | US$ in thousands | 98,000 | 108,000 | 53,000 | 85,000 | 124,000 | 119,000 | 254,000 | 290,000 | 86,000 | 103,000 | 39,000 | 114,000 | 269,000 | 152,000 | 60,000 | 10,000 | 5,000 | 117,000 | 6,000 | 5,000 |
| Total current liabilities | US$ in thousands | 10,409,000 | 10,348,000 | 10,346,000 | 13,231,000 | 10,744,000 | 8,918,000 | 7,856,000 | 9,653,000 | 9,558,000 | 7,805,000 | 7,252,000 | 8,999,000 | 8,548,000 | 7,734,000 | 7,529,000 | 9,199,000 | 8,238,000 | 8,993,000 | 8,614,000 | 14,078,000 |
| Cash ratio | 0.26 | 0.23 | 0.25 | 0.13 | 0.31 | 0.26 | 0.34 | 0.24 | 0.48 | 0.37 | 0.40 | 0.28 | 0.44 | 0.38 | 0.38 | 0.21 | 0.21 | 0.23 | 0.24 | 0.13 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($2,644,000K
+ $98,000K)
÷ $10,409,000K
= 0.26
The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations.
Analyzing Corteva Inc's cash ratio over the past eight quarters shows some fluctuations. In Q4 2023, the cash ratio was 0.37, down from 0.33 in Q3 2023 but still higher than Q1 2023’s ratio of 0.23. This suggests that Corteva had a relatively strong ability to cover its short-term liabilities with cash in Q4 2023.
Comparing the most recent ratio to the same quarter in the prior year, there has been a decline from Q4 2022’s ratio of 0.40. However, looking at a longer-term trend, Corteva's cash ratio has shown some variability but has generally remained within a reasonable range over the past eight quarters.
Overall, while there have been fluctuations in Corteva Inc's cash ratio, the company appears to have maintained a sufficient level of cash reserves to meet its short-term obligations. Further analysis and consideration of other financial metrics would be needed to gain a more comprehensive understanding of Corteva's financial health.
Peer comparison
Dec 31, 2023