Clearway Energy Inc Class C (CWEN)
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 | 535,000 | 566,000 | 547,000 | 576,000 | 657,000 | 793,000 | 955,000 | 140,000 | 179,000 | 189,000 | 138,000 | 144,000 | 268,000 | 359,000 | 175,000 | 110,000 | 155,000 | 148,000 | 93,000 | 117,000 |
| Short-term investments | US$ in thousands | — | 48,000 | 34,000 | 27,000 | 26,000 | 23,000 | 9,000 | — | — | 632,000 | 639,000 | — | 741,000 | 1,001,000 | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | 150,000 | 153,000 | 200,000 | 224,000 | 153,000 | 144,000 | 203,000 | 204,000 | 159,000 | 143,000 | 156,000 | 161,000 | 100,000 | 118,000 | 144,000 | 127,000 | 91,000 |
| Total current liabilities | US$ in thousands | 906,000 | 844,000 | 606,000 | 638,000 | 617,000 | 808,000 | 749,000 | 1,527,000 | 1,631,000 | 816,000 | 754,000 | 748,000 | 634,000 | 602,000 | 555,000 | 1,714,000 | 2,057,000 | 2,246,000 | 2,127,000 | 1,787,000 |
| Quick ratio | 0.59 | 0.73 | 0.96 | 1.18 | 1.35 | 1.26 | 1.59 | 0.19 | 0.20 | 1.25 | 1.30 | 0.41 | 1.82 | 2.52 | 0.61 | 0.12 | 0.13 | 0.13 | 0.10 | 0.12 |
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 shown fluctuating trends over the past eight quarters. In Q4 2023, the quick ratio was 1.09, which decreased from the previous quarter's ratio of 1.29. Despite the slight decline, the company's quick ratio remains above 1, indicating that Clearway Energy Inc has an acceptable level of liquidity to cover its short-term obligations with its most liquid assets.
Looking further back, the quick ratio has exhibited variability, with the highest ratio of 1.69 observed in Q2 2022 and the lowest ratio of 0.23 in Q1 2022. The significant increase from Q1 2022 to Q2 2022 indicates a substantial improvement in the company's ability to meet its short-term liabilities with its quick assets. However, the quick ratio dropped sharply in Q1 2022, raising concerns about the company's liquidity position during that period.
Overall, the trend suggests that Clearway Energy Inc has generally maintained a healthy quick ratio above 1 in recent quarters, indicating a strong ability to meet its short-term obligations without relying heavily on inventory. It is essential for the company to continue monitoring and managing its liquidity position to ensure it can effectively address any short-term financial challenges that may arise.
Peer comparison
Dec 31, 2023