CoreCivic Inc (CXW)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 312,174 | 269,416 | 261,539 | 256,175 | 312,435 | 293,395 | 273,839 | 262,467 | 282,809 | 228,889 | 282,227 | 259,620 | 267,705 | 264,745 | 246,114 | 272,598 | 280,785 | 271,594 | 272,423 | 273,567 |
| 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 |
| Quick ratio | 1.46 | 1.23 | 1.11 | 1.13 | 1.02 | 1.01 | 0.82 | 1.76 | 1.71 | 1.77 | 1.41 | 1.11 | 1.22 | 1.72 | 2.07 | 1.72 | 1.01 | 0.45 | 0.49 | 0.85 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($121,845K
+ $—K
+ $312,174K)
÷ $297,454K
= 1.46
Based on the quick ratio data provided for CoreCivic Inc over the past eight quarters, we can observe fluctuations in the company's short-term liquidity position. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets.
The quick ratio has ranged from 0.91 to 1.84 during this period. A quick ratio above 1 indicates that CoreCivic Inc has sufficient liquid assets to cover its current liabilities, with a higher ratio suggesting a stronger liquidity position.
In the most recent quarter, Q4 2023, the quick ratio stood at 1.55, showing an improvement from the previous quarter, Q3 2023, where it was 1.33. This increase suggests that the company had a higher level of liquid assets relative to its current liabilities, which is a positive indicator of short-term solvency.
Overall, CoreCivic Inc's quick ratio has displayed some variability over the past eight quarters, but the ratios generally remain above 1, indicating a solid ability to meet short-term obligations with liquid assets. It is important for the company to continue to monitor and manage its liquidity position to ensure ongoing financial stability.
Peer comparison
Dec 31, 2023