Norfolk Southern Corporation (NSC)
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 | 1,568,000 | 1,506,000 | 556,000 | 552,000 | 456,000 | 1,214,000 | 1,259,000 | 1,571,000 | 839,000 | 1,465,000 | 1,670,000 | 998,000 | 1,115,000 | 1,359,000 | 1,143,000 | 608,000 | 580,000 | 452,000 | 274,000 | 411,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 3,684,000 | 3,658,000 | 3,604,000 | 3,590,000 | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,147,000 | 1,210,000 | 1,089,000 | 1,170,000 | 1,148,000 | 1,151,000 | 1,208,000 | 1,070,000 | 976,000 | 945,000 | 941,000 | 944,000 | 848,000 | 883,000 | 822,000 | 889,000 | 920,000 | 973,000 | 1,039,000 | 1,048,000 |
| Total current liabilities | US$ in thousands | 2,632,000 | 2,914,000 | 2,986,000 | 2,824,000 | 2,649,000 | 2,798,000 | 2,609,000 | 3,147,000 | 2,521,000 | 2,410,000 | 2,796,000 | 2,249,000 | 2,160,000 | 2,005,000 | 1,935,000 | 2,236,000 | 2,300,000 | 2,761,000 | 2,451,000 | 2,885,000 |
| Quick ratio | 1.03 | 0.93 | 0.55 | 0.61 | 0.61 | 0.85 | 0.95 | 0.84 | 0.72 | 2.53 | 2.24 | 2.47 | 2.57 | 1.12 | 1.02 | 0.67 | 0.65 | 0.52 | 0.54 | 0.51 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,568,000K
+ $—K
+ $1,147,000K)
÷ $2,632,000K
= 1.03
The quick ratio of Norfolk Southern Corp. has exhibited fluctuations over the past eight quarters. In Q4 2023, the quick ratio stood at 1.14, indicating that the company had $1.14 in liquid assets available to cover each dollar of current liabilities. This suggests a relatively healthy liquidity position.
However, in Q3 2023, the quick ratio decreased to 0.97, signaling a slight decline in the company's ability to cover its short-term obligations with its readily available assets. The ratio dipped further in Q2 2023 to 0.59, reflecting potential liquidity challenges during that period.
Subsequently, in Q1 2023, the quick ratio improved to 0.66, although it remained lower compared to previous quarters. The company had a quick ratio of 0.66 in both Q4 2022 and Q2 2022, indicating consistent liquidity challenges during those periods.
On the other hand, the quick ratio was relatively stronger in Q3 2022 at 0.87 and in Q1 2022 at 0.98, which may suggest better liquidity positions during those quarters compared to other periods analyzed.
Overall, Norfolk Southern Corp.'s quick ratio has shown varying levels of liquidity over the past eight quarters, with some periods indicating stronger liquidity positions than others. Investors and analysts should continue to monitor this ratio to assess the company's ability to meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023