Service Corporation International (SCI)
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 | 221,557 | 172,710 | 172,516 | 157,831 | 191,938 | 167,965 | 206,242 | 300,556 | 268,626 | 406,947 | 436,796 | 243,726 | 230,857 | 220,304 | 222,234 | 176,261 | 186,276 | 194,654 | 243,684 | 153,694 |
| Short-term investments | US$ in thousands | -425,308 | 4,048,970 | 4,124,130 | — | 4,175,290 | 3,930,910 | 4,092,120 | — | 4,771,540 | 4,610,970 | 5,785,650 | 4,424,280 | 5,345,720 | 3,567,540 | 3,645,680 | — | 3,842,330 | 3,658,490 | 3,697,470 | 3,600,640 |
| Total current liabilities | US$ in thousands | 749,100 | 712,872 | 688,333 | 767,399 | 799,280 | 706,588 | 715,111 | 775,205 | 728,261 | 724,262 | 691,492 | 841,782 | 815,934 | 622,134 | 606,825 | 587,294 | 556,719 | 563,417 | 614,472 | 604,543 |
| Cash ratio | -0.27 | 5.92 | 6.24 | 0.21 | 5.46 | 5.80 | 6.01 | 0.39 | 6.92 | 6.93 | 9.00 | 5.55 | 6.83 | 6.09 | 6.37 | 0.30 | 7.24 | 6.84 | 6.41 | 6.21 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($221,557K
+ $-425,308K)
÷ $749,100K
= -0.27
Service Corp. International's cash ratio has fluctuated over the past eight quarters, ranging from a low of 0.25 in Q1 2023 to a high of 0.42 in Q1 2022. The cash ratio measures the company's ability to cover its short-term liabilities using its cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations without relying on external financing.
The downward trend in the cash ratio from Q1 2022 to Q1 2023 may suggest a decrease in the company's liquidity position. However, the ratio remained relatively stable around 0.30 in Q2-Q4 2023, indicating a moderate level of liquidity maintained by Service Corp. International.
It is important for investors and stakeholders to monitor the company's cash ratio over time to ensure that Service Corp. International can effectively manage its short-term financial obligations and potential liquidity risks.
Peer comparison
Dec 31, 2023