PNM Resources Inc (PNM)
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 | ||
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Cash and cash equivalents | US$ in thousands | 2,215 | 7,768 | 7,640 | 4,132 | 4,078 | 5,622 | 3,484 | 4,389 | 1,104 | 49,481 | 18,457 | 7,521 | 47,928 | 30,893 | 2,823 | 16,249 | 3,833 | 20,094 | 4,226 | 180,088 |
Short-term investments | US$ in thousands | — | — | — | — | 26,841 | — | 26,066 | — | — | 455,409 | 453,007 | 437,028 | 440,115 | 408,551 | — | — | — | — | — | — |
Total current liabilities | US$ in thousands | 1,230,760 | 1,478,570 | 1,108,240 | 1,195,460 | 890,370 | 666,469 | 894,484 | 673,043 | 664,213 | 475,207 | 636,467 | 1,511,120 | 977,662 | 1,251,580 | 1,265,770 | 1,114,920 | 967,481 | 945,729 | 666,541 | 664,133 |
Cash ratio | 0.00 | 0.01 | 0.01 | 0.00 | 0.03 | 0.01 | 0.03 | 0.01 | 0.00 | 1.06 | 0.74 | 0.29 | 0.50 | 0.35 | 0.00 | 0.01 | 0.00 | 0.02 | 0.01 | 0.27 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($2,215K
+ $—K)
÷ $1,230,760K
= 0.00
The cash ratio of PNM Resources Inc has varied over the past eight quarters, ranging from a low of 0.06 in Q2 2022 to a high of 0.11 in Q3 2022. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger liquidity position, as the company has more cash available to meet its immediate financial obligations.
In the most recent quarter, Q4 2023, the cash ratio was 0.08, showing a slight decrease from the previous quarter but remaining relatively stable compared to earlier quarters in 2023. While the cash ratio has fluctuated, it has generally remained within a narrow range, indicating that PNM Resources Inc has maintained a consistent level of liquidity over the past two years.
Overall, PNM Resources Inc's cash ratio suggests that the company has a moderate level of liquidity, with enough cash on hand to cover a portion of its short-term liabilities. Investors and analysts may want to further investigate the company's cash management and liquidity position to ensure the company can meet its financial obligations in the short term.
Peer comparison
Dec 31, 2023