NewJersey Resources Corporation (NJR)

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	2,739	954	511	27,095	2,407	1,107	27,693	13,906	1,259	4,749	4,719	57,654	22,358	117,012	42,821	25,968	15,666	2,676	26,297	83,160
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0	0	0
Total current liabilities	US$ in thousands	962,032	806,603	668,954	711,477	1,066,240	1,104,150	969,434	882,137	1,097,770	1,051,410	613,626	416,066	518,672	533,722	902,259	824,349	805,543	446,377	582,045	583,799
Cash ratio		0.00	0.00	0.00	0.04	0.00	0.00	0.03	0.02	0.00	0.00	0.01	0.14	0.04	0.22	0.05	0.03	0.02	0.01	0.05	0.14

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($2,739K + $—K) ÷ $962,032K
= 0.00

The cash ratio of New Jersey Resources Corporation has shown some fluctuations over the past few quarters. In Q1 2024, the cash ratio decreased to 0.21 compared to 0.25 in Q4 2023. This suggests that the company has a lower level of cash and cash equivalents available to cover its current liabilities in Q1 2024.

Looking back at Q3 2023, the cash ratio was at its highest point of 0.33, indicating that the company had a relatively stronger ability to cover its short-term obligations with cash on hand at that time. However, the ratio decreased in subsequent quarters, with Q2 2023 and Q1 2023 both showing a cash ratio of 0.25.

Comparing to the previous year, in Q4 2022, the cash ratio was slightly lower at 0.22. The ratio improved in Q3 2022 to 0.26 before dropping to 0.18 in Q2 2022, indicating a weaker liquidity position at that point.

Overall, the trend in the cash ratio of New Jersey Resources Corporation has been somewhat volatile, indicating fluctuations in the company's ability to meet its short-term liabilities with available cash and cash equivalents. It is crucial for investors and stakeholders to closely monitor this ratio to assess the company's liquidity position and its ability to manage short-term financial obligations effectively.