PNM Resources Inc (PNM)
Quick 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 | 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 | — | — | — | — | — | — |
Receivables | US$ in thousands | 197,060 | 245,347 | 191,492 | 183,504 | 249,493 | 247,328 | 220,135 | 162,270 | 185,906 | 211,023 | 198,830 | 150,968 | 174,586 | 204,702 | 171,183 | 133,324 | 148,238 | 176,831 | 149,281 | 141,265 |
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 |
Quick ratio | 0.16 | 0.17 | 0.18 | 0.16 | 0.31 | 0.38 | 0.28 | 0.25 | 0.28 | 1.51 | 1.05 | 0.39 | 0.68 | 0.51 | 0.14 | 0.13 | 0.16 | 0.21 | 0.23 | 0.48 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,215K
+ $—K
+ $197,060K)
÷ $1,230,760K
= 0.16
The quick ratio of PNM Resources Inc has been fluctuating over the past eight quarters, ranging from a low of 0.24 to a high of 0.52. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.
A quick ratio below 1 indicates potential liquidity concerns as the company may not have enough liquid assets to cover its current liabilities. In this case, PNM Resources Inc has consistently had quick ratios below 1, with the lowest being 0.24 in Q1 2023 and the highest at 0.52 in Q4 2022.
The downward trend in the quick ratio from Q4 2022 to Q1 2023 suggests a potential deterioration in the company's ability to meet short-term obligations. However, the quick ratio improved slightly in Q2 and Q3 2023 before decreasing again in Q4 2023.
Overall, PNM Resources Inc's quick ratio indicates a relatively low level of liquidity compared to its current liabilities. Investors and stakeholders should monitor this ratio closely to assess the company's short-term financial health and ability to meet its obligations.
Peer comparison
Dec 31, 2023