Caesars Entertainment Corporation (CZR)
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 | 1,005,000 | 841,000 | 1,122,000 | 965,000 | 1,038,000 | 944,000 | 997,000 | 814,000 | 1,070,000 | 1,072,000 | 1,128,000 | 1,810,000 | 1,776,000 | 1,051,000 | 950,000 | 672,000 | 206,000 | 209,000 | 183,139 | 216,883 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 136,000 | 145,000 | 185,000 | 319,000 | 302,000 | 237,000 | 2,073,000 | 4,000 | 2,259,000 | 36,071 | 31,385 | 34,634 | 20,433 | 22,679 | 16,899 |
| Receivables | US$ in thousands | 608,000 | 555,000 | 526,000 | 543,000 | 611,000 | 506,000 | 494,000 | 450,000 | 472,000 | 438,000 | 420,000 | 372,000 | 382,000 | 422,000 | 44,890 | 44,389 | 57,705 | 50,973 | 63,102 | 70,743 |
| Total current liabilities | US$ in thousands | 2,690,000 | 2,561,000 | 2,717,000 | 2,377,000 | 2,668,000 | 2,426,000 | 4,897,000 | 5,145,000 | 5,297,000 | 4,978,000 | 5,452,000 | 2,504,000 | 2,513,000 | 2,470,000 | 476,002 | 771,008 | 688,000 | 414,971 | 383,240 | 389,344 |
| Quick ratio | 0.60 | 0.55 | 0.61 | 0.63 | 0.62 | 0.65 | 0.33 | 0.28 | 0.35 | 0.36 | 0.33 | 1.70 | 0.86 | 1.51 | 2.17 | 0.97 | 0.43 | 0.68 | 0.70 | 0.78 |
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, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. A higher quick ratio indicates a stronger ability to cover short-term liabilities.
Analyzing Caesars Entertainment Inc's quick ratio over the past eight quarters, we observe some fluctuations. In Q4 2023, the quick ratio was 0.70, which was lower compared to the previous quarter but still within an acceptable range. The ratio decreased from 0.76 in Q1 2023 to 0.70 in Q4 2023, indicating a slight decline in the company's ability to cover its current liabilities with its quick assets.
Looking back at the performance of the quick ratio over the past eight quarters, we see that the ratio has shown some variability. The quick ratio was relatively stable around 0.72 in Q2 and Q3 of 2022 but dropped significantly to 0.36 in Q4 2022 before gradually improving in subsequent quarters.
The quick ratio reaching 0.70 in Q4 2023 suggests that Caesars Entertainment Inc may have a slightly weaker liquidity position compared to the previous quarter. It is important for investors and stakeholders to monitor this ratio over time to ensure the company can meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023