DTE Energy Company (DTE)
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 | 26,000 | 36,000 | 30,000 | 115,000 | 33,000 | 26,000 | 67,000 | 150,000 | 28,000 | 54,000 | 3,448 | 1,568,000 | 472,000 | 945,000 | 579,000 | 552,000 | 93,000 | 76,000 | 62,000 | 56,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 169,000 | 167,000 | 174,000 | 187,000 | 186,000 | 1,860,000 | — | 42,000 | — | — | 1,867,000 | — | — | — | — |
| Receivables | US$ in thousands | 1,787,000 | 1,566,000 | 1,495,000 | 1,693,000 | 2,182,000 | 1,980,000 | 2,158,000 | 1,812,000 | 1,830,000 | 1,692,000 | 1,707,000 | 1,685,000 | 1,792,000 | 1,559,000 | 1,746,000 | 1,742,000 | 1,887,000 | 1,717,000 | 1,529,000 | 1,755,000 |
| Total current liabilities | US$ in thousands | 5,883,000 | 4,045,000 | 3,596,000 | 4,036,000 | 5,173,000 | 5,466,000 | 6,895,000 | 5,680,000 | 6,346,000 | 3,433,000 | 3,737,000 | 2,595,000 | 2,691,000 | 3,417,000 | 4,196,000 | 3,972,000 | 3,997,000 | 3,865,000 | 3,654,000 | 3,647,000 |
| Quick ratio | 0.31 | 0.40 | 0.42 | 0.45 | 0.43 | 0.40 | 0.35 | 0.38 | 0.32 | 0.56 | 0.96 | 1.25 | 0.86 | 0.73 | 0.55 | 1.05 | 0.50 | 0.46 | 0.44 | 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 shown some fluctuation over the past eight quarters. The trend indicates a general improvement from Q4 2022 to Q1 2023, with the ratio moving from 0.62 to 0.65. However, a slight decline is observed in the most recent quarter, Q4 2023, where the quick ratio dropped to 0.42.
A quick ratio below 1 typically indicates that a company may struggle to meet its short-term obligations with its most liquid assets. Thus, the quick ratio for DTE Energy Co. suggests that it may have limited ability to cover its current liabilities with its quick assets alone.
Further analysis of the underlying components contributing to the quick ratio, such as cash, marketable securities, and accounts receivable, would be necessary to gain a more detailed understanding of the company's liquidity position. It is essential for investors and stakeholders to monitor this ratio closely to assess DTE Energy Co.'s ability to meet its short-term financial obligations.
Peer comparison
Dec 31, 2023