Newmont Goldcorp Corp (NEM)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 7,512,000 | 5,955,000 | 6,134,000 | 6,559,000 | 6,515,000 | 6,320,000 | 6,907,000 | 7,059,000 | 7,696,000 | 7,472,000 | 7,445,000 | 8,364,000 | 8,505,000 | 7,660,000 | 6,684,000 | 6,455,000 | 6,272,000 | 5,698,000 | 4,638,000 | 5,397,000 |
| Total current liabilities | US$ in thousands | 5,998,000 | 2,808,000 | 2,693,000 | 2,752,000 | 2,926,000 | 2,324,000 | 2,451,000 | 2,417,000 | 2,654,000 | 2,799,000 | 2,787,000 | 3,480,000 | 3,369,000 | 2,703,000 | 2,378,000 | 1,952,000 | 2,385,000 | 2,611,000 | 2,538,000 | 1,815,000 |
| Current ratio | 1.25 | 2.12 | 2.28 | 2.38 | 2.23 | 2.72 | 2.82 | 2.92 | 2.90 | 2.67 | 2.67 | 2.40 | 2.52 | 2.83 | 2.81 | 3.31 | 2.63 | 2.18 | 1.83 | 2.97 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $7,512,000K ÷ $5,998,000K
= 1.25
The current ratio of Newmont Corp has shown some fluctuation over the past eight quarters. The current ratio measures the company's ability to cover its short-term liabilities with its current assets. A current ratio above 1 indicates that the company has more current assets than current liabilities.
In Q4 2023, the current ratio decreased to 1.25 from 2.12 in Q3 2023, showing a significant decline in the company's ability to cover its short-term obligations. This may indicate that Newmont Corp may be facing challenges in meeting its current liabilities with its current assets.
Looking at the trend over the past quarters, the current ratio peaked at 2.92 in Q1 2022 and has been gradually decreasing since then. This may suggest that Newmont Corp has been utilizing its current assets less effectively to cover its short-term obligations.
It is important for investors and stakeholders to monitor the current ratio closely as it provides insights into the company's liquidity and short-term financial health. A sustained decrease in the current ratio may raise concerns about the company's ability to meet its short-term obligations.