Monarch Casino & Resort Inc (MCRI)

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	43,361	33,918	35,100	34,430	38,779	33,139	30,580	33,149	33,526	33,036	28,296	24,143	28,310	30,526	38,320	39,358	60,539	29,088	26,526	23,817
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	123,367	116,551	106,499	113,325	117,744	140,555	130,698	134,414	141,178	135,402	123,902	115,530	109,444	59,563	61,007	62,727	79,465	61,626	64,366	60,555
Cash ratio		0.35	0.29	0.33	0.30	0.33	0.24	0.23	0.25	0.24	0.24	0.23	0.21	0.26	0.51	0.63	0.63	0.76	0.47	0.41	0.39

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($43,361K + $—K) ÷ $123,367K
= 0.35

The cash ratio of Monarch Casino & Resort, Inc. has shown some fluctuations over the past eight quarters. The cash ratio measures the company's ability to cover its current liabilities with cash and cash equivalents alone. A higher cash ratio indicates a stronger ability to cover short-term obligations.

In Q4 2023, the cash ratio was 0.44, indicating that the company had $0.44 in cash and cash equivalents for every dollar of current liabilities. This was an improvement compared to the previous quarter (Q3 2023) when the ratio was 0.36.

Looking at the trend over the past quarters, we can observe some variability in the cash ratio. It peaked at 0.44 in Q4 2023, which was the highest level in the past two years. The lowest point was in Q3 2022 when the ratio was 0.28.

Overall, the fluctuation in the cash ratio suggests that Monarch Casino & Resort, Inc. has been managing its liquidity position with some variability. It is important for the company to maintain a healthy cash ratio to ensure it can meet its short-term obligations effectively.