IDACORP Inc (IDA)

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	327,429	445,489	134,779	357,823	177,577	226,229	237,886	218,550	215,243	299,672	259,965	240,007	275,116	312,018	460,365	138,871	217,254	260,571	239,664	231,342
Short-term investments	US$ in thousands	37,320	30,157	31,617	33,083	34,129	24,979	25,000	22,698	0	0	0	25,000	25,000	25,000	43,666	44,843	0	33,776	34,795	35,668
Total current liabilities	US$ in thousands	634,076	488,930	468,338	532,570	548,565	475,422	448,980	327,578	325,624	342,780	331,141	261,872	287,571	302,771	447,168	247,854	374,859	291,082	295,582	273,466
Cash ratio		0.58	0.97	0.36	0.73	0.39	0.53	0.59	0.74	0.66	0.87	0.79	1.01	1.04	1.11	1.13	0.74	0.58	1.01	0.93	0.98

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 measures the company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates that the company has sufficient liquid assets to meet its short-term obligations.

Based on the data provided for Idacorp, Inc., the cash ratio fluctuated over the past eight quarters. In Q4 2023, the cash ratio was 0.91, showing a decrease from the previous quarter's ratio of 1.29. This decrease may indicate a reduction in the company's ability to cover its short-term liabilities with cash on hand.

Comparing the Q4 2023 cash ratio to the ratios from the same quarter in previous years, we see an improvement from Q4 2022's ratio of 0.59. However, the current ratio remains below the ratios reported in Q3 and Q1 of 2023, indicating potential fluctuations in the company's liquidity position throughout the year.

Overall, while the cash ratio provides insights into Idacorp, Inc.'s ability to meet short-term obligations with its cash reserves, investors and analysts may want to closely monitor any significant changes in the ratio to assess the company's financial stability and liquidity management.