WEC Energy Group Inc (WEC)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 42,900 | 28,900 | 16,300 | 24,800 | 37,500 |
| Short-term investments | US$ in thousands | — | 1,909,200 | 1,789,400 | 1,764,000 | — |
| Total current liabilities | US$ in thousands | 5,114,800 | 4,611,000 | 3,753,000 | 4,148,100 | 3,182,700 |
| Cash ratio | 0.01 | 0.42 | 0.48 | 0.43 | 0.01 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($42,900K
+ $—K)
÷ $5,114,800K
= 0.01
The cash ratio of WEC Energy Group Inc has shown some fluctuations over the past five years. The ratio was at its highest in 2021 at 0.14, indicating that the company had $0.14 in cash and cash equivalents for every $1 of current liabilities. This suggests a strong liquidity position. However, in 2020, the cash ratio dropped to 0.08, which could imply a temporary decrease in the company's ability to cover short-term obligations with cash on hand.
Overall, the trend in the cash ratio for WEC Energy Group Inc has been relatively stable around the range of 0.10 to 0.14, indicating that the company has maintained a decent level of liquidity throughout the years. An analysis of other liquidity ratios and factors would provide a more comprehensive view of the company's financial health and ability to meet its short-term obligations.
Peer comparison
Dec 31, 2023