Tegna Inc (TGNA)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 361,036 | 551,681 | 56,989 | 40,968 | 29,404 |
| Short-term investments | US$ in thousands | — | — | — | 20,300 | 32,400 |
| Total current liabilities | US$ in thousands | 423,372 | 391,024 | 375,132 | 424,175 | 361,158 |
| Cash ratio | 0.85 | 1.41 | 0.15 | 0.14 | 0.17 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($361,036K
+ $—K)
÷ $423,372K
= 0.85
The cash ratio for TEGNA Inc has experienced fluctuations over the past five years. In 2023, the cash ratio stands at 0.98, indicating that the company has $0.98 in cash and cash equivalents for every $1 of current liabilities. This represents a decline from the previous year, where the ratio was higher at 1.62.
The significant increase in the cash ratio in 2022 suggests that TEGNA had a higher proportion of cash to cover its short-term obligations compared to 2023. However, the ratio had dropped considerably in 2021 to 0.35, indicating a lower level of liquidity relative to liabilities.
In 2020 and 2019, the cash ratios were 0.25 and 0.29, respectively, highlighting a gradual improvement in TEGNA's ability to meet its short-term obligations with cash on hand in those years.
Overall, the fluctuations in TEGNA's cash ratio indicate varying levels of liquidity over the years, which could be influenced by factors such as operational cash flow, debt management, and investment strategies.
Peer comparison
Dec 31, 2023