Duke Energy Corporation (DUK)
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 | 253,000 | 324,000 | 567,000 | 624,000 | 409,000 | 453,000 | 428,000 | 853,000 | 341,000 | 548,000 | 367,000 | 379,000 | 259,000 | 308,000 | 341,000 | 1,450,000 | 311,000 | 379,000 | 336,000 | 377,000 |
| Short-term investments | US$ in thousands | — | -9,245,000 | -9,565,000 | 93,000 | — | 188,000 | 297,000 | — | 2,000 | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 4,292,000 | 1,808,000 | 2,139,000 | 2,105,000 | 4,563,000 | 2,138,000 | 2,082,000 | 2,093,000 | 3,401,000 | 1,824,000 | 1,762,000 | 2,592,000 | 3,113,000 | 3,108,000 | 2,878,000 | 2,544,000 | 2,837,000 | 3,153,000 | 2,943,000 | 2,714,000 |
| Total current liabilities | US$ in thousands | 17,283,000 | 17,160,000 | 17,375,000 | 16,015,000 | 18,873,000 | 16,912,000 | 16,544,000 | 15,425,000 | 15,931,000 | 15,556,000 | 16,211,000 | 17,333,000 | 16,305,000 | 16,693,000 | 16,690,000 | 15,170,000 | 14,752,000 | 13,390,000 | 13,447,000 | 12,282,000 |
| Quick ratio | 0.26 | -0.41 | -0.39 | 0.18 | 0.26 | 0.16 | 0.17 | 0.19 | 0.24 | 0.15 | 0.13 | 0.17 | 0.21 | 0.20 | 0.19 | 0.26 | 0.21 | 0.26 | 0.24 | 0.25 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($253,000K
+ $—K
+ $4,292,000K)
÷ $17,283,000K
= 0.26
The quick ratio of Duke Energy Corp. has been relatively stable over the past eight quarters, ranging from 0.49 to 0.56. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.
With a quick ratio consistently below 1, Duke Energy Corp. may have difficulty covering its current liabilities using only its most liquid assets. This could indicate a potential liquidity risk in the short term. However, a quick ratio around 0.5 to 0.6 is not uncommon for companies in certain industries, such as utilities, where inventory turnover is not a primary concern.
Overall, Duke Energy Corp.'s quick ratio suggests that the company may have a limited ability to meet its short-term obligations with its readily available assets. Investors and stakeholders should continue to monitor the company's liquidity position to ensure its financial health in the future.
Peer comparison
Dec 31, 2023