Heartland Express Inc (HTLD)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 28,123 | 49,462 | 157,742 | 113,852 | 76,684 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 123,476 | 156,757 | 71,594 | 71,042 | 63,407 |
| Cash ratio | 0.23 | 0.32 | 2.20 | 1.60 | 1.21 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($28,123K
+ $—K)
÷ $123,476K
= 0.23
The cash ratio of Heartland Express, Inc. has shown fluctuations over the past five years. The cash ratio decreased from 1.49 in 2019 to 0.46 in 2023, indicating a lower ability to cover its short-term liabilities with cash and cash equivalents.
The significant decrease from 2019 to 2020 suggests a possible change in the company's cash management or liquidity position. However, the ratio improved in 2021 to 2.46, indicating a strong ability to cover short-term obligations with cash on hand.
In 2022, the cash ratio slightly decreased to 0.55, but it remained relatively stable compared to the significant fluctuations in previous years. By the end of 2023, there was a notable decrease in the cash ratio to 0.46, suggesting a potential liquidity challenge or increased short-term liabilities relative to available cash.
Overall, the trend in Heartland Express, Inc.'s cash ratio indicates fluctuations in its ability to cover short-term obligations with cash, emphasizing the importance of monitoring liquidity management strategies to maintain financial stability.
Peer comparison
Dec 31, 2023