CVR Energy Inc (CVI)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 581,000 | 510,000 | 510,000 | 667,000 | 652,000 |
| Short-term investments | US$ in thousands | — | — | — | 173,000 | — |
| Total current liabilities | US$ in thousands | 1,682,000 | 1,439,000 | 1,156,000 | 659,000 | 596,000 |
| Cash ratio | 0.35 | 0.35 | 0.44 | 1.27 | 1.09 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($581,000K
+ $—K)
÷ $1,682,000K
= 0.35
The cash ratio of CVR Energy Inc has fluctuated over the past five years, indicating varying levels of liquidity.
As of December 31, 2023, the cash ratio stands at 0.77, which means that the company has $0.77 in cash and cash equivalents for every dollar of current liabilities. This represents an improvement from the previous year's ratio of 0.42, suggesting a stronger liquidity position in the current year.
In comparison to the ratios from the prior years, the cash ratio was 0.51 in 2021, 1.41 in 2020, and 1.21 in 2019. The significant jump in 2020 indicates a peak in liquidity, followed by a decrease in 2021 before the recent uptick in 2023.
Overall, while the current cash ratio is stronger than the previous year, it is below the levels seen in 2020 and 2019. Investors and stakeholders may want to monitor the company's liquidity position closely, considering the fluctuating trend in the cash ratio over the past five years.
Peer comparison
Dec 31, 2023