Tegna Inc (TGNA)
Quick 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 | 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 | — | — | — |
| Receivables | US$ in thousands | 633,744 | 615,512 | 603,944 | 648,341 | 671,811 | 598,957 | 623,626 | 655,468 | 657,776 | 616,188 | 599,832 | 625,549 | 564,786 | 517,093 | 500,120 | 557,640 | 601,405 | 550,352 | 471,983 | 473,602 |
| 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 |
| Quick ratio | 2.35 | 3.27 | 3.29 | 3.52 | 3.13 | 2.47 | 2.22 | 1.84 | 1.91 | 1.90 | 2.48 | 1.99 | 1.48 | 2.07 | 2.13 | 1.83 | 1.84 | 1.49 | 1.81 | 1.48 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($361,036K
+ $—K
+ $633,744K)
÷ $423,372K
= 2.35
The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has sufficient liquid assets to cover its current liabilities.
TEGNA Inc's quick ratio has been relatively stable over the past eight quarters, ranging from 2.02 to 3.70. The quick ratio saw an improvement in Q4 2023 to 2.48 from the previous quarter's ratio of 3.47.
Overall, TEGNA Inc's quick ratio indicates a strong ability to cover its short-term liabilities with highly liquid assets. The consistency of the quick ratio above 2 in most quarters suggests that the company is well-positioned to meet its current obligations without relying heavily on inventory or other less liquid assets. This stability in the quick ratio reflects positively on TEGNA Inc's financial health and liquidity management.
Peer comparison
Dec 31, 2023