MGM Resorts International (MGM)

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	2,927,830	3,316,360	3,843,370	4,505,320	5,911,890	5,295,430	5,784,170	2,719,120	4,703,060	5,570,830	5,626,230	6,171,510	5,101,640	4,593,870	4,835,500	6,016,420	2,329,600	1,233,570	1,160,590	1,223,400
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	81,000	66,000	76,000	124,000	1,439,450	1,447,040	1,473,960	—	—	—	—	—	—
Total current liabilities	US$ in thousands	3,126,070	2,962,070	2,749,400	2,844,430	4,515,890	5,895,500	5,544,580	3,599,600	3,442,260	3,410,460	2,036,370	1,835,390	1,856,580	2,766,780	2,575,130	2,626,250	3,191,420	3,293,240	2,786,540	2,812,680
Cash ratio		0.94	1.12	1.40	1.58	1.31	0.90	1.04	0.78	1.39	1.66	2.82	4.15	3.53	2.19	1.88	2.29	0.73	0.37	0.42	0.43

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($2,927,830K + $—K) ÷ $3,126,070K
= 0.94

The cash ratio measures a company's ability to cover its short-term liabilities with its available cash and cash equivalents. A higher cash ratio indicates a stronger position in meeting its financial obligations in the short term.

Based on the data provided for MGM Resorts International, we observe fluctuations in the cash ratio over the past eight quarters. In Q1 2022, the cash ratio was at its lowest point, standing at 0.86, indicating that the company had a lower level of cash to cover its short-term liabilities.

However, the cash ratio improved in subsequent quarters, reaching its peak in Q1 2023 at 1.88. This indicates that MGM Resorts International significantly improved its ability to cover its short-term liabilities with cash and cash equivalents during that period.

Overall, the trend in the cash ratio of MGM Resorts International shows variability, with fluctuations observed in each quarter. It is important for investors and analysts to monitor this ratio over time to assess the company's liquidity position and financial health.