Tidewater Inc (TDW)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 274,437 | 164,192 | 149,037 | 149,933 | 218,290 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 328,731 | 194,787 | 157,942 | 183,179 | 185,677 |
| Cash ratio | 0.83 | 0.84 | 0.94 | 0.82 | 1.18 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($274,437K
+ $—K)
÷ $328,731K
= 0.83
The cash ratio of Tidewater Inc has shown some fluctuations over the past five years. In 2023, the cash ratio stands at 0.83, slightly lower than the previous year's 0.84. This indicates that the company had $0.83 in cash and cash equivalents for every dollar of current liabilities as of December 31, 2023.
Compared to 2021, where the cash ratio was 0.94, the current year's ratio reflects a decrease in the company's ability to cover its short-term obligations with its readily available cash resources. However, the cash ratio of 0.83 is still higher than the 2020 ratio of 0.82, suggesting a slight improvement in liquidity position.
In 2019, Tidewater Inc had a notably higher cash ratio of 1.18, indicating a stronger ability to meet its short-term liabilities with cash on hand compared to the most recent years.
Overall, while the cash ratio has fluctuated year-over-year, Tidewater Inc's liquidity position seems to have weakened slightly in 2023 compared to the previous year, albeit remaining relatively stable over the period analyzed. It is essential for the company to closely monitor its liquidity position to ensure it can effectively meet its short-term financial obligations.
Peer comparison
Dec 31, 2023