Nexstar Broadcasting Group Inc (NXST)
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 | 135,000 | 150,000 | 346,000 | 413,000 | 204,000 | 346,600 | 276,400 | 326,200 | 190,900 | 193,831 | 313,269 | 339,777 | 152,701 | 409,900 | 664,624 | 434,067 | 232,070 | 317,420 | 79,924 | 128,591 |
| Short-term investments | US$ in thousands | — | — | — | — | 100 | — | — | — | — | 1,188,760 | — | 1,185,540 | 1,333,780 | 1,313,860 | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 961,000 | 852,000 | 836,000 | 864,000 | 893,000 | 915,100 | 745,600 | 733,500 | 787,300 | 711,018 | 638,968 | 729,662 | 730,888 | 671,742 | 822,329 | 915,998 | 947,557 | 1,094,300 | 494,047 | 429,938 |
| Cash ratio | 0.14 | 0.18 | 0.41 | 0.48 | 0.23 | 0.38 | 0.37 | 0.44 | 0.24 | 1.94 | 0.49 | 2.09 | 2.03 | 2.57 | 0.81 | 0.47 | 0.24 | 0.29 | 0.16 | 0.30 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($135,000K
+ $—K)
÷ $961,000K
= 0.14
The cash ratio measures a company's ability to cover its short-term liabilities with its available cash and cash equivalents. Nexstar Media Group Inc's cash ratio has fluctuated over the past eight quarters, ranging from 0.37 to 0.78.
In Q1 2023 and Q2 2023, the cash ratio was relatively high at 0.78 and 0.74, respectively, indicating that Nexstar had a strong ability to cover its short-term liabilities with its cash reserves during those periods. However, in Q4 2023, the cash ratio dropped to 0.37, the lowest in the dataset, which may suggest a decrease in the company's ability to meet its short-term obligations using cash alone.
Compared to the previous quarters, the cash ratio in Q4 2023 at 0.37 was a significant decline from the high of 0.78 in Q1 2023. This downward trend could raise concerns about Nexstar's liquidity position and its ability to manage short-term financial obligations. Further analysis of the company's cash flow dynamics and working capital management may be warranted to understand the reasons behind this decrease and assess the potential impact on the company's financial health.
Peer comparison
Dec 31, 2023