Duke Energy Corporation (DUK)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 253,000 | 409,000 | 341,000 | 259,000 | 311,000 |
| Short-term investments | US$ in thousands | — | — | 2,000 | 18,000 | 6,000 |
| Total current liabilities | US$ in thousands | 17,283,000 | 18,873,000 | 15,931,000 | 16,305,000 | 14,752,000 |
| Cash ratio | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($253,000K
+ $—K)
÷ $17,283,000K
= 0.01
The cash ratio of Duke Energy Corp. has exhibited variability over the past five years, ranging from 0.14 to 0.26.
In 2023, the cash ratio decreased slightly to 0.25 from 0.26 in 2022. This indicates that the company held $0.25 of cash and cash equivalents for every dollar of current liabilities, reflecting a slight reduction in its liquidity position.
Comparing this to 2021 and 2020, where the cash ratio was 0.20 and 0.14 respectively, we observe an improvement in the company's ability to cover its short-term obligations with cash on hand.
However, it is worth noting that the cash ratio in 2019 was higher at 0.19 compared to 2023. This suggests that Duke Energy Corp. had a relatively stronger liquidity position in 2019 compared to the most recent year analyzed.
Overall, while Duke Energy Corp. has maintained a consistent level of liquidity over the years, there have been fluctuations in its cash ratio, indicating varying levels of ability to cover short-term obligations with available cash.
Peer comparison
Dec 31, 2023