Caesars Entertainment Corporation (CZR)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 1,005,000 | 1,038,000 | 1,070,000 | 1,776,000 | 206,000 |
| Short-term investments | US$ in thousands | — | — | 319,000 | 2,021,000 | 34,634 |
| Receivables | US$ in thousands | 608,000 | 611,000 | 472,000 | 382,000 | 57,705 |
| Total current liabilities | US$ in thousands | 2,690,000 | 2,668,000 | 5,297,000 | 2,513,000 | 688,000 |
| Quick ratio | 0.60 | 0.62 | 0.35 | 1.66 | 0.43 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,005,000K
+ $—K
+ $608,000K)
÷ $2,690,000K
= 0.60
The quick ratio of Caesars Entertainment Inc has fluctuated over the past five years, ranging from 0.35 to 0.92. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.
A quick ratio below 1 indicates that the company may have difficulty meeting its short-term liabilities with its current assets. Caesars Entertainment Inc's quick ratio has been consistently below 1, indicating potential liquidity challenges in the short term.
The decreasing trend from 2020 to 2021 (0.92 to 0.35) raises concerns about the company's ability to cover its short-term obligations. However, the ratio improved in 2022 and 2023 but remained below 1.
Overall, Caesars Entertainment Inc's quick ratio suggests the company may need to manage its liquidity more effectively to ensure it can meet its short-term obligations in a timely manner.
Peer comparison
Dec 31, 2023