Tegna Inc (TGNA)

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 361,036 553,000 489,373 683,179 551,681 376,641 200,800 43,300 56,989 51,200 57,262 12,853 40,968 164,586 173,070 35,059 29,404 9,194 29,268 3,818
Short-term investments US$ in thousands — — — — — — — — — — 131,717 136,219 20,300 143,206 — — 32,400 — — —
Total current liabilities US$ in thousands 423,372 357,636 332,744 378,196 391,024 395,031 370,726 379,795 375,132 350,753 317,812 389,241 424,175 399,344 316,538 323,510 361,158 374,839 276,537 323,538
Cash ratio 0.85 1.55 1.47 1.81 1.41 0.95 0.54 0.11 0.15 0.15 0.59 0.38 0.14 0.77 0.55 0.11 0.17 0.02 0.11 0.01

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 shown fluctuation over the past eight quarters, ranging from a low of 0.30 to a high of 1.99. The cash ratio measures a company's ability to cover its short-term liabilities using its available cash and cash equivalents.

In the most recent quarter, Q4 2023, TEGNA Inc had a cash ratio of 0.98, indicating that the company had sufficient cash to cover 98% of its short-term liabilities. This was lower compared to the previous quarter, Q3 2023, where the ratio was 1.75. The decrease in the cash ratio could suggest a decrease in liquidity or an increase in short-term obligations.

Looking back over the past year, TEGNA Inc's cash ratio has generally been healthy, with ratios above 1, indicating that the company had more cash on hand than short-term liabilities. However, there were notable fluctuations, such as the significant increase in Q1 2023 to 1.99, which may indicate a temporary surplus in cash reserves or a reduction in short-term liabilities during that period.

Overall, a consistently high cash ratio is a positive indicator of a company's liquidity and ability to meet its short-term obligations. However, investors and analysts should monitor any significant changes in the cash ratio over time as it could signal changes in the company's financial health and management of cash resources.