The Ensign Group Inc (ENSG)
Cash 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 and cash equivalents | US$ in thousands | 509,626 | 467,870 | 419,974 | 326,969 | 316,270 | 308,864 | 285,580 | 248,546 | 262,201 | 304,620 | 198,411 | 155,527 | 236,562 | 175,380 | 201,738 | 63,217 | 59,175 | 44,396 | 39,042 | 37,824 |
Short-term investments | US$ in thousands | 17,229 | 16,433 | 20,018 | 20,101 | 15,441 | 12,233 | 8,991 | 12,093 | 13,763 | 12,844 | 10,573 | 14,623 | 13,449 | 17,577 | 16,357 | 15,021 | 17,754 | 13,026 | 8,003 | 4,037 |
Total current liabilities | US$ in thousands | 734,747 | 671,797 | 618,989 | 585,277 | 582,072 | 567,040 | 531,924 | 513,558 | 523,068 | 483,109 | 460,986 | 443,020 | 562,399 | 525,202 | 581,038 | 330,143 | 343,173 | 354,629 | 327,348 | 311,443 |
Cash ratio | 0.72 | 0.72 | 0.71 | 0.59 | 0.57 | 0.57 | 0.55 | 0.51 | 0.53 | 0.66 | 0.45 | 0.38 | 0.44 | 0.37 | 0.38 | 0.24 | 0.22 | 0.16 | 0.14 | 0.13 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($509,626K
+ $17,229K)
÷ $734,747K
= 0.72
The cash ratio of Ensign Group Inc has shown a generally positive trend over the past eight quarters. The ratio has ranged from 0.57 to 0.78 during this period. In the most recent quarter, Q4 2023, the cash ratio stood at 0.76, indicating that the company had $0.76 in cash and cash equivalents for every $1 of current liabilities.
A higher cash ratio is typically seen as favorable as it suggests that the company has a stronger ability to cover its short-term liabilities with cash on hand. Despite some fluctuations, Ensign Group Inc has managed to maintain a relatively stable and healthy cash ratio above 0.64 in the past two years.
Investors and stakeholders may view this consistent performance positively, as it shows that the company has a prudent approach to managing its liquidity and financial obligations. Overall, Ensign Group Inc's cash ratio reflects a solid financial position and a good level of liquidity to meet its short-term liabilities.
Peer comparison
Dec 31, 2023