Expand Energy Corporation (EXE)
Cash ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,044,000 | 1,019,000 | 1,179,000 | 1,079,000 | 713,000 | 903,000 | 130,000 | 130,000 | 74,000 | 17,000 | 19,000 | 905,000 | 849,000 | 612,000 | 340,000 | 279,000 | 306,000 | 82,000 | 82,000 | 6,000 |
| Short-term investments | US$ in thousands | 199,000 | 361,000 | 592,000 | 637,000 | 361,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 899,000 | 931,000 | 1,020,000 | 1,314,000 | 1,614,000 | 1,651,000 | 1,898,000 | 2,704,000 | 4,238,000 | 4,241,000 | 4,392,000 | 2,447,000 | 2,510,000 | 1,866,000 | 1,443,000 | 3,094,000 | 3,105,000 | 2,389,000 | 2,260,000 | 2,392,000 |
| Cash ratio | 1.38 | 1.48 | 1.74 | 1.31 | 0.67 | 0.55 | 0.07 | 0.05 | 0.02 | 0.00 | 0.00 | 0.37 | 0.34 | 0.33 | 0.24 | 0.09 | 0.10 | 0.03 | 0.04 | 0.00 |
September 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,044,000K
+ $199,000K)
÷ $899,000K
= 1.38
The cash ratio of Expand Energy Corporation has shown a fluctuating trend over the past few years. As of September 30, 2024, the cash ratio stands at 1.38, indicating that the company had $1.38 in cash and cash equivalents for every dollar of current liabilities. This represents an improvement from the previous quarter and is a strong indication of the company's ability to cover its short-term obligations with its liquid assets.
The sharp increase in the cash ratio from the previous quarter highlights a significant improvement in Expand Energy's liquidity position. This may be attributed to effective cash management strategies or an increase in cash reserves. The cash ratio exceeding 1 suggests that the company has more than enough liquid assets to cover its short-term liabilities, reflecting a healthy financial position.
It is worth noting that the company's cash ratio had been quite low in prior periods, particularly in the first half of 2023, where it was below 1. This could indicate potential liquidity challenges or a need to improve cash management practices during those periods. However, the consistent increase in the cash ratio since then demonstrates a positive trend towards strengthening the company's liquidity position.
Overall, the current cash ratio of 1.38 as of September 30, 2024, suggests that Expand Energy Corporation is in a favorable position to meet its short-term financial obligations using its cash and cash equivalents. This liquidity metric provides insights into the company's ability to navigate unexpected financial challenges and indicates a prudent approach to managing its cash resources.
Peer comparison
Sep 30, 2024