IDACORP Inc (IDA)

Cash ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	327,429	177,577	215,243	275,116	217,254
Short-term investments	US$ in thousands	37,320	34,129	0	25,000	0
Total current liabilities	US$ in thousands	634,076	548,565	325,624	287,571	374,859
Cash ratio		0.58	0.39	0.66	1.04	0.58

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($327,429K + $37,320K) ÷ $634,076K
= 0.58

The cash ratio of Idacorp, Inc. has fluctuated over the past five years. The cash ratio measures the company's ability to cover its short-term liabilities using its cash and cash equivalents.

In 2023, the cash ratio stood at 0.91, indicating that for every dollar of current liabilities, the company has $0.91 in cash and cash equivalents. This is an improvement from 2022 when the cash ratio was 0.59, suggesting a stronger liquidity position in the most recent year.

Compared to 2021, where the cash ratio was 0.97, the current ratio decreased in 2023. However, in 2020, the cash ratio was notably higher at 1.34, indicating a greater ability to cover short-term obligations with available cash.

In 2019, the cash ratio was lower at 0.78, showing that there was less cash available for every dollar of current liabilities compared to the most recent year.

Overall, while there have been fluctuations in the cash ratio over the five-year period, the company's ability to cover short-term liabilities with cash and cash equivalents has generally been reasonable. It's important for investors and analysts to monitor this ratio to assess the company's liquidity position and its ability to meet its short-term obligations.