Tenet Healthcare Corporation (THC)
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 | 1,228,000 | 1,054,000 | 934,000 | 766,000 | 858,000 | 1,208,000 | 1,351,000 | 1,405,000 | 2,364,000 | 2,292,000 | 2,194,000 | 2,141,000 | 2,446,000 | 3,300,000 | 3,514,000 | 613,000 | 262,000 | 314,000 | 249,000 | 252,000 |
| Short-term investments | US$ in thousands | — | — | — | — | -1,518,000 | — | — | — | -1,439,000 | 2,564,000 | 2,525,000 | 2,577,000 | -1,507,000 | 2,445 | — | — | -1,389,000 | — | — | — |
| Total current liabilities | US$ in thousands | 4,760,000 | 4,432,000 | 4,152,000 | 4,219,000 | 4,476,000 | 4,276,000 | 4,368,000 | 4,668,000 | 5,109,000 | 5,379,000 | 5,071,000 | 4,930,000 | 4,847,000 | 5,843,000 | 5,585,000 | 4,095,000 | 4,205,000 | 3,928,000 | 4,150,000 | 3,725,000 |
| Cash ratio | 0.26 | 0.24 | 0.22 | 0.18 | -0.15 | 0.28 | 0.31 | 0.30 | 0.18 | 0.90 | 0.93 | 0.96 | 0.19 | 0.57 | 0.63 | 0.15 | -0.27 | 0.08 | 0.06 | 0.07 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,228,000K
+ $—K)
÷ $4,760,000K
= 0.26
The cash ratio of Tenet Healthcare Corp. has shown slight fluctuations over the past eight quarters, ranging from 0.58 to 0.66. This ratio measures the company's ability to cover its short-term liabilities with its readily available cash and cash equivalents.
A cash ratio above 1 indicates that the company has enough cash on hand to cover its current liabilities fully. Tenet Healthcare Corp.'s cash ratio has consistently been below 1, suggesting that the company may not have enough cash to settle all its short-term obligations if they were all due at once.
Overall, the trend in Tenet Healthcare Corp.'s cash ratio indicates that while the company has maintained a relatively stable level of liquidity over the past two years, there may be some room for improvement to strengthen its short-term financial position.
Peer comparison
Dec 31, 2023