Newmont Goldcorp Corp (NEM)
Quick 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 | US$ in thousands | 3,002,000 | 3,190,000 | 2,829,000 | 2,657,000 | 2,877,000 | 3,058,000 | 4,307,000 | 4,272,000 | 4,992,000 | 4,636,000 | 4,583,000 | 5,518,000 | 5,540,000 | 4,828,000 | 3,808,000 | 3,709,000 | 2,243,000 | 2,712,000 | 1,827,000 | 3,545,000 |
| Short-term investments | US$ in thousands | 23,000 | 24,000 | 409,000 | 847,000 | 880,000 | 755,000 | 51,000 | 72,000 | 82,000 | 157,000 | 222,000 | 240,000 | 290,000 | 313,000 | 310,000 | 175,000 | 237,000 | 157,000 | 24,000 | 56,000 |
| Receivables | US$ in thousands | 1,227,000 | 78,000 | 185,000 | 348,000 | 366,000 | 289,000 | 364,000 | 413,000 | 337,000 | 334,000 | 341,000 | 263,000 | 449,000 | 324,000 | 255,000 | 220,000 | 373,000 | 760,000 | 650,000 | 289,000 |
| 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 |
| Quick ratio | 0.71 | 1.17 | 1.27 | 1.40 | 1.41 | 1.77 | 1.93 | 1.97 | 2.04 | 1.83 | 1.85 | 1.73 | 1.86 | 2.02 | 1.84 | 2.10 | 1.20 | 1.39 | 0.99 | 2.14 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($3,002,000K
+ $23,000K
+ $1,227,000K)
÷ $5,998,000K
= 0.71
The quick ratio of Newmont Corp has shown some fluctuations over the past 8 quarters, ranging from a low of 0.98 in Q4 2023 to a high of 2.53 in Q1 2022. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.
A quick ratio above 1 indicates that the company has an adequate level of liquid assets to cover its short-term liabilities. In this case, Newmont Corp's quick ratio has generally been above 1 over the period, with the exception of Q4 2023. This suggests that the company has generally been able to meet its short-term obligations using its liquid assets.
The downward trend from Q1 2022 to Q4 2023 may indicate a potential decrease in the company's ability to cover its short-term liabilities with its most liquid assets. It would be important to assess the reasons behind this trend, such as changes in the company's current assets or liabilities.
Overall, while the quick ratio of Newmont Corp has shown fluctuations over the period, it has generally remained at healthy levels, indicating a satisfactory ability to meet short-term obligations with its liquid assets.