New York Times Company (NYT)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 289,472 | 221,385 | 319,973 | 286,079 | 230,431 |
| Short-term investments | US$ in thousands | 162,094 | 125,972 | 341,075 | 309,080 | 201,785 |
| Total current liabilities | US$ in thousands | 611,559 | 571,210 | 559,152 | 486,748 | 437,695 |
| Cash ratio | 0.74 | 0.61 | 1.18 | 1.22 | 0.99 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($289,472K
+ $162,094K)
÷ $611,559K
= 0.74
The cash ratio of New York Times Co. has been fluctuating over the past five years. In 2023, the cash ratio decreased to 0.88 from 0.77 in 2022, indicating a slight decline in the company's ability to cover its short-term liabilities with cash on hand. Compared to 2021 and 2020, when the cash ratio was higher at 1.29 and 1.34 respectively, the current ratio suggests a lower level of liquidity. However, the 2023 ratio is still higher than in 2019 when it stood at 1.15, reflecting an improvement in liquidity over the longer term. The company may need to closely monitor its cash reserves to ensure it can meet its short-term obligations efficiently.
Peer comparison
Dec 31, 2023