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.
Peer comparison
Dec 31, 2023