CoreCivic Inc (CXW)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 474,914 | 419,965 | 353,722 | 355,972 | 513,670 | 529,963 | 505,244 | 680,760 | 627,384 | 729,442 | 491,249 | 753,378 | 717,122 | 593,987 | 668,406 | 659,901 | 435,385 | 380,645 | 392,109 | 355,331 |
| 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 |
| Current ratio | 1.60 | 1.38 | 1.29 | 1.31 | 1.14 | 1.12 | 1.06 | 1.87 | 1.84 | 1.88 | 1.55 | 1.95 | 2.29 | 1.87 | 2.27 | 1.87 | 1.18 | 0.53 | 0.58 | 1.03 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $474,914K ÷ $297,454K
= 1.60
CoreCivic Inc's current ratio has exhibited fluctuations over the past eight quarters. The current ratio measures the company's ability to meet its short-term obligations using its current assets. In Q4 2023, the current ratio stood at 1.60, indicating an improvement from the preceding quarter. This suggests that CoreCivic's current assets were 1.60 times greater than its current liabilities in the most recent quarter.
The current ratio had shown a declining trend from Q1 2022 to Q3 2023, reaching a low of 1.06 in Q2 2022. However, there was a notable spike in the current ratio in Q1 2022, where it reached 1.87, signifying a strong ability to cover short-term liabilities with current assets.
Overall, while the recent upward trend in the current ratio is positive, it is essential to monitor this ratio over time to assess CoreCivic's liquidity position accurately and ensure the company can meet its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023