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.
Peer comparison
Dec 31, 2023