CoreCivic Inc (CXW)
Cash 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 and cash equivalents | US$ in thousands | 121,845 | 103,697 | 41,840 | 51,463 | 149,401 | 185,328 | 115,611 | 378,204 | 299,645 | 455,544 | 162,891 | 168,141 | 113,219 | 282,462 | 363,772 | 335,491 | 92,120 | 47,537 | 56,745 | 20,499 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 297,454 | 304,367 | 273,638 | 271,938 | 450,751 | 473,227 | 474,813 | 363,075 | 340,968 | 387,363 | 316,603 | 385,408 | 313,405 | 317,376 | 293,947 | 353,256 | 368,811 | 714,802 | 671,601 | 346,065 |
| Cash ratio | 0.41 | 0.34 | 0.15 | 0.19 | 0.33 | 0.39 | 0.24 | 1.04 | 0.88 | 1.18 | 0.51 | 0.44 | 0.36 | 0.89 | 1.24 | 0.95 | 0.25 | 0.07 | 0.08 | 0.06 |
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 of CoreCivic Inc has fluctuated over the past eight quarters, ranging from 0.29 to 1.12. The cash ratio measures the company's ability to cover its current liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations using readily available funds.
The cash ratio was at its lowest in Q2 2023 and Q1 2023, both at 0.29, suggesting a relatively lower level of cash compared to current liabilities during those periods. This may have raised concerns about the company's liquidity position at those times.
However, in Q1 2022, the cash ratio was significantly higher at 1.12, indicating that CoreCivic Inc had more than enough cash to cover its short-term obligations. This may have been due to effective cash management strategies or a temporary increase in cash reserves during that quarter.
Overall, the fluctuation in CoreCivic Inc's cash ratio indicates varying levels of liquidity and highlights the importance of monitoring the company's ability to meet its short-term liabilities with available cash resources.
Peer comparison
Dec 31, 2023