CVR Energy Inc (CVI)
Quick ratio
| Dec 31, 2024 | Sep 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 987,000 | 534,000 | 644,000 | 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 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | 4,000 | 6,000 | 235,000 | 173,000 | 119,000 | 188,000 | 170,000 | — |
| Receivables | US$ in thousands | 306,000 | 281,000 | 253,000 | 286,000 | 316,000 | 300,000 | 330,000 | 380,000 | 320,000 | 418,000 | 353,000 | 325,000 | 240,000 | 234,000 | 226,000 | 222,000 | 133,000 | 148,000 | 152,000 | 182,000 |
| Total current liabilities | US$ in thousands | 1,098,000 | 1,055,000 | 1,043,000 | 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 |
| Quick ratio | 1.18 | 0.77 | 0.86 | 0.52 | 0.92 | 0.82 | 0.69 | 0.62 | 0.61 | 0.77 | 0.66 | 0.72 | 0.78 | 0.68 | 1.17 | 1.61 | 2.02 | 2.55 | 2.24 | 1.40 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($987,000K
+ $—K
+ $306,000K)
÷ $1,098,000K
= 1.18
The quick ratio of CVR Energy Inc fluctuated over the analyzed period. It stood at a healthy level of 1.40 as of December 31, 2019, indicating the company's ability to meet its short-term liabilities using its most liquid assets. The ratio improved significantly to 2.24 by March 31, 2020, and continued to increase to 2.55 by June 30, 2020, suggesting a strong liquidity position during that period.
However, the quick ratio started to decline after reaching its peak, dropping to 1.61 by December 31, 2020, and subsequently decreased to 0.68 by June 30, 2021. This downward trend continued as the ratio further decreased to 0.61 by September 30, 2022. The ratio experienced some fluctuations around this level until reaching its lowest point of 0.52 by December 31, 2023, indicating potential liquidity challenges for the company during that period.
The quick ratio showed signs of recovery as it increased to 0.86 by March 31, 2024, and remained relatively stable at 0.77 as of September 30, 2024, and 1.18 by December 31, 2024. The increasing ratio towards the end of the period suggests an improvement in the company's ability to cover its current liabilities with its most liquid assets.
In conclusion, the quick ratio of CVR Energy Inc exhibited fluctuations over the analyzed period, with periods of strong liquidity followed by declines that raised concerns about short-term liquidity challenges. However, the improvement in the ratio towards the end of the period indicates efforts to enhance liquidity management within the company.
Peer comparison
Dec 31, 2024