International Seaways Inc (INSW)
Cash ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 157,506 | 126,760 | 243,744 | 97,883 | 199,390 |
| Short-term investments | US$ in thousands | 0 | 60,000 | 80,000 | 0 | — |
| Total current liabilities | US$ in thousands | 130,935 | 195,574 | 257,389 | 234,611 | 108,896 |
| Cash ratio | 1.20 | 0.95 | 1.26 | 0.42 | 1.83 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($157,506K
+ $0K)
÷ $130,935K
= 1.20
The cash ratio of International Seaways Inc has fluctuated over the past five fiscal years. It stood at 1.83 as of December 31, 2020, indicating that the company had $1.83 in cash and cash equivalents for every dollar of current liabilities. However, this ratio decreased significantly to 0.42 by December 31, 2021, suggesting a decrease in the company's ability to cover its short-term liabilities with cash on hand.
Subsequently, the cash ratio improved to 1.26 by December 31, 2022, signaling a recovery in the company's liquidity position. However, by December 31, 2023, the ratio declined to 0.95, although it remained above the ratio of 2021, indicating a slight improvement in short-term liquidity.
As of December 31, 2024, the cash ratio increased to 1.20, showing that International Seaways Inc had $1.20 in cash and cash equivalents to cover each dollar of current liabilities. Overall, the company's cash ratio experienced fluctuations during the period under review, reflecting changes in its cash holdings relative to current obligations. Further analysis of the company's cash management practices and liquidity position may be warranted to understand the factors driving these fluctuations.
Peer comparison
Dec 31, 2024