Kellanova (K)

Cash ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	274,000	299,000	286,000	435,000	397,000
Short-term investments	US$ in thousands	—	49,000	14,000	4,000	0
Total current liabilities	US$ in thousands	5,060,000	6,349,000	5,315,000	5,238,000	4,778,000
Cash ratio		0.05	0.05	0.06	0.08	0.08

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($274,000K + $—K) ÷ $5,060,000K
= 0.05

The cash ratio of Kellanova has remained relatively stable over the last five years, ranging from 0.05 to 0.08. This ratio indicates the company's ability to cover its short-term liabilities with its cash and cash equivalents. A cash ratio of 0.05 to 0.08 suggests that Kellanova may have a limited amount of cash on hand relative to its current liabilities, which could raise concerns about its short-term liquidity position. Further analysis of the company's cash management practices and overall liquidity position would be necessary to fully assess the implications of these cash ratio levels.