CVR Energy Inc (CVI)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 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 | 181,000 | 168,000 | 197,000 |
| 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 |
| Quick ratio | 0.52 | 0.92 | 0.82 | 0.69 | 0.62 | 0.61 | 0.77 | 0.66 | 0.72 | 0.78 | 0.68 | 0.94 | 1.35 | 1.76 | 2.04 | 1.90 | 1.40 | 1.48 | 1.47 | 1.14 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($581,000K
+ $—K
+ $286,000K)
÷ $1,682,000K
= 0.52
The quick ratio of CVR Energy Inc has shown some fluctuation over the past year, ranging from 0.67 in Q4 2022 to 0.97 in Q3 2023. The quick ratio measures the company's ability to meet its short-term liabilities with its most liquid assets excluding inventory. A quick ratio below 1 indicates that the company may have difficulty covering its short-term obligations with its liquid assets alone.
Overall, the trend in the quick ratio for CVR Energy Inc suggests that the company's liquidity position has been relatively stable, although there was a noticeable improvement in Q3 2023 compared to the previous quarters. It is important for investors and stakeholders to closely monitor the quick ratio to assess the company's ability to manage its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023