Kellanova (K)
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 | 274,000 | 1,099,000 | 308,000 | 347,000 | 299,000 | 373,000 | 323,000 | 313,000 | 286,000 | 440,000 | 395,000 | 391,000 | 435,000 | 1,329,000 | 1,047,000 | 1,016,000 | 397,000 | 453,000 | 340,000 | 272,000 |
| Short-term investments | US$ in thousands | — | 32,000 | 9,000 | 9,000 | 49,000 | 2,000 | 57,000 | — | — | 423,000 | 394,000 | 397,000 | 391,000 | 250,000 | 200,000 | — | 0 | — | — | — |
| Total current liabilities | US$ in thousands | 5,060,000 | 6,524,000 | 6,476,000 | 6,001,000 | 6,349,000 | 6,033,000 | 6,051,000 | 5,848,000 | 5,315,000 | 5,029,000 | 4,946,000 | 5,385,000 | 5,238,000 | 6,034,000 | 5,856,000 | 5,595,000 | 4,778,000 | 4,389,000 | 4,989,000 | 4,978,000 |
| Cash ratio | 0.05 | 0.17 | 0.05 | 0.06 | 0.05 | 0.06 | 0.06 | 0.05 | 0.05 | 0.17 | 0.16 | 0.15 | 0.16 | 0.26 | 0.21 | 0.18 | 0.08 | 0.10 | 0.07 | 0.05 |
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 measures the ability of a company to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to cover short-term obligations without relying on external sources of financing.
Analyzing Kellanova's cash ratio over the past few quarters, we observe some fluctuations. The cash ratio has ranged from 0.05 to 0.26 over the past five years, indicating variability in the company's liquidity position.
In the most recent quarter, the cash ratio was 0.05, indicating that Kellanova had $0.05 in cash and cash equivalents for every $1 of short-term liabilities. This suggests a relatively low level of liquidity compared to the previous quarters.
It's noteworthy that the cash ratio reached its peak at 0.26 in September 2020, suggesting a significant improvement in liquidity at that time. However, the ratio has since fluctuated, with periods of both higher and lower liquidity levels.
Overall, Kellanova's cash ratio shows some volatility over the past few years, reflecting fluctuations in the company's cash position relative to its short-term liabilities. Investors and analysts should continue to monitor this ratio to assess the company's ability to meet its short-term obligations.
Peer comparison
Dec 31, 2023