CoreCivic Inc (CXW)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 121,845 | 149,401 | 299,645 | 113,219 | 92,120 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 312,174 | 312,435 | 282,809 | 267,705 | 280,785 |
| Total current liabilities | US$ in thousands | 297,454 | 450,751 | 340,968 | 313,405 | 368,811 |
| Quick ratio | 1.46 | 1.02 | 1.71 | 1.22 | 1.01 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($121,845K
+ $—K
+ $312,174K)
÷ $297,454K
= 1.46
The Quick ratio of CoreCivic Inc has shown fluctuations over the past five years. In 2023, the quick ratio improved to 1.55 from 1.10 in 2022, indicating the company's ability to meet its short-term obligations with its most liquid assets increased. Compared to 2021, where the quick ratio was 1.79, the current ratio decreased but still remains at a reasonable level. In 2020, the quick ratio was 1.32, showing a slight decline from the previous year. In 2019, the quick ratio was 1.11, which was lower than the subsequent years.
Overall, the current quick ratios demonstrate the company's ability to meet its short-term liabilities with its liquid assets. The improving trend over the years indicates a strengthening liquidity position of CoreCivic Inc, although the fluctuations suggest potential changes in the company's operating and financial environment. Further analysis of the company's operational efficiency and liquidity management practices would provide a more comprehensive understanding of the factors influencing these fluctuations in the quick ratio.
Peer comparison
Dec 31, 2023