DTE Energy Company (DTE)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 26,000 | 33,000 | 28,000 | 472,000 | 93,000 |
| Short-term investments | US$ in thousands | — | — | 187,000 | 42,000 | — |
| Receivables | US$ in thousands | 1,787,000 | 2,182,000 | 1,830,000 | 1,792,000 | 1,887,000 |
| Total current liabilities | US$ in thousands | 5,883,000 | 5,173,000 | 6,346,000 | 2,691,000 | 3,997,000 |
| Quick ratio | 0.31 | 0.43 | 0.32 | 0.86 | 0.50 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($26,000K
+ $—K
+ $1,787,000K)
÷ $5,883,000K
= 0.31
The quick ratio of DTE Energy Co. has exhibited fluctuations over the past five years.
- In 2023, the quick ratio decreased to 0.42 from 0.62 in 2022. This decline indicates a reduction in the company's ability to meet its short-term obligations with its most liquid assets.
- The quick ratio was the lowest in 2021 at 0.39, indicating a potential liquidity strain that year.
- A notable increase was observed in 2020, where the quick ratio improved significantly to 1.03. This suggests a strong ability to cover short-term obligations with quick assets.
- In 2019, the quick ratio was 0.58, below the level seen in 2020 but higher than the ratios in 2021, 2022, and 2023.
Overall, the trend in DTE Energy Co.'s quick ratio shows variability, with fluctuations in its ability to cover short-term liabilities with its most liquid assets. Investors and stakeholders may need to closely monitor future changes in this ratio to assess the company's liquidity position effectively.
Peer comparison
Dec 31, 2023