Clearway Energy Inc Class C (CWEN)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 535,000 | 657,000 | 179,000 | 268,000 | 155,000 |
| Short-term investments | US$ in thousands | — | 26,000 | — | 741,000 | — |
| Receivables | US$ in thousands | — | 153,000 | 144,000 | 143,000 | 118,000 |
| Total current liabilities | US$ in thousands | 906,000 | 617,000 | 1,631,000 | 634,000 | 2,057,000 |
| Quick ratio | 0.59 | 1.35 | 0.20 | 1.82 | 0.13 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($535,000K
+ $—K
+ $—K)
÷ $906,000K
= 0.59
The quick ratio of Clearway Energy Inc has fluctuated over the past five years. In 2023, the quick ratio stands at 1.09, which indicates that the company has $1.09 of liquid assets available to cover each $1 of current liabilities. This ratio has declined from the previous year, where it was at 1.44. The decrease in the quick ratio from 2022 to 2023 may suggest a slightly lower ability to meet short-term obligations with liquid assets.
Comparing the current quick ratio to 2021 and 2020, there has been a significant improvement in liquidity. In 2021, the quick ratio was a low 0.24, highlighting a limited ability to cover immediate liabilities with liquid assets. The ratio improved in 2022 to 0.74, indicating a step towards a more favorable liquidity position.
The quick ratio of 1.09 in 2023 is notably higher than in 2019, where it was at 0.15, showing a substantial enhancement in the company's ability to meet short-term obligations with liquid assets.
Overall, while there has been some fluctuation in the quick ratio for Clearway Energy Inc in recent years, the current ratio of 1.09 in 2023 suggests a relatively healthy liquidity position, indicating a strengthened ability to meet short-term obligations when compared to previous years.
Peer comparison
Dec 31, 2023