Nexstar Broadcasting Group Inc (NXST)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 135,000 | 204,000 | 190,900 | 152,701 | 232,070 |
| Short-term investments | US$ in thousands | — | 100 | — | 1,333,780 | — |
| Receivables | US$ in thousands | 1,095,000 | 1,079,400 | 1,021,050 | 904,801 | 883,921 |
| Total current liabilities | US$ in thousands | 961,000 | 893,000 | 787,300 | 730,888 | 947,557 |
| Quick ratio | 1.28 | 1.44 | 1.54 | 3.27 | 1.18 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($135,000K
+ $—K
+ $1,095,000K)
÷ $961,000K
= 1.28
The quick ratio of Nexstar Media Group Inc over the past five years has displayed a generally healthy trend, indicating the company's ability to meet its short-term liabilities with highly liquid assets. The ratio has consistently remained above the ideal level of 1, suggesting a strong liquidity position.
The quick ratio was highest in 2022 at 1.79, indicating a peak level of immediate liquidity relative to current liabilities. Although there was a slight decrease in 2023 to 1.51, the ratio remains strong and above the industry benchmark of 1.
Overall, the consistent quick ratios above 1.5 demonstrate Nexstar Media Group Inc.'s ability to cover its short-term obligations with its most liquid assets. This stability in liquidity suggests the company's financial health and ability to navigate through operating challenges or capitalize on potential opportunities.
Peer comparison
Dec 31, 2023