CoreCivic Inc (CXW)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 121,845 | 149,401 | 299,645 | 113,219 | 92,120 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 297,454 | 450,751 | 340,968 | 313,405 | 368,811 |
| Cash ratio | 0.41 | 0.33 | 0.88 | 0.36 | 0.25 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($121,845K
+ $—K)
÷ $297,454K
= 0.41
The cash ratio for CoreCivic Inc has fluctuated over the past five years. In 2023, the cash ratio stands at 0.50, indicating that the company has $0.50 in cash and cash equivalents for every dollar of current liabilities. This represents an improvement compared to the previous year when the ratio was 0.40.
The cash ratio was highest in 2021 at 0.96, suggesting a stronger liquidity position compared to the other years. In 2020, the ratio was 0.47, showing a decrease in liquidity from the previous year. The lowest cash ratio was observed in 2019 at 0.35, signaling a relatively weaker liquidity position at that time.
Overall, the trend in the cash ratio for CoreCivic Inc indicates some volatility in the company's ability to cover its short-term obligations with cash and cash equivalents. It is important for investors and stakeholders to monitor the cash ratio over time to assess the company's liquidity risk and ability to meet its immediate financial obligations.
Peer comparison
Dec 31, 2023