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
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.