CVR Energy Inc (CVI)
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 | 581,000 | 889,000 | 751,000 | 601,000 | 510,000 | 618,000 | 893,000 | 676,000 | 510,000 | 566,000 | 519,000 | 707,000 | 667,000 | 672,000 | 606,000 | 805,000 | 652,000 | 692,000 | 540,000 | 467,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,682,000 | 1,311,000 | 1,285,000 | 1,347,000 | 1,439,000 | 1,531,000 | 1,695,000 | 1,552,000 | 1,156,000 | 1,035,000 | 1,112,000 | 995,000 | 659,000 | 457,000 | 369,000 | 504,000 | 596,000 | 590,000 | 482,000 | 580,000 |
| Cash ratio | 0.35 | 0.68 | 0.58 | 0.45 | 0.35 | 0.40 | 0.53 | 0.44 | 0.44 | 0.55 | 0.47 | 0.71 | 1.01 | 1.47 | 1.64 | 1.60 | 1.09 | 1.17 | 1.12 | 0.81 |
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 measures the ability of a company to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a better ability to meet short-term obligations.
Analyzing CVR Energy Inc's cash ratio over the past eight quarters shows fluctuations ranging from 0.42 to 0.77. The trend displays some variability, with an overall increasing pattern in recent quarters.
In Q4 2023, CVR Energy Inc's cash ratio improved to 0.77, indicating that the company had $0.77 in cash and cash equivalents for every $1 of short-term liabilities. This signifies a strengthened liquidity position compared to the previous quarter where the ratio was 0.73.
The cash ratio fluctuated in the range of 0.46 to 0.73 throughout 2022, indicating some volatility in the company's ability to cover short-term obligations with cash reserves during that period. The lowest ratio observed in Q4 2022 was 0.42, suggesting a potential liquidity strain.
Overall, the increasing trend in the cash ratio for CVR Energy Inc in 2023 is a positive signal of improved liquidity and the company's ability to meet short-term financial obligations. However, further monitoring of the trend in upcoming quarters is advisable to assess the sustainability of this positive liquidity performance.
Peer comparison
Dec 31, 2023