Werner Enterprises Inc (WERN)

Cash ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	61,723	107,240	54,196	29,334	26,418
Short-term investments	US$ in thousands	—	—	—	—	—
Total current liabilities	US$ in thousands	330,585	309,520	268,683	274,014	308,840
Cash ratio		0.19	0.35	0.20	0.11	0.09

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($61,723K + $—K) ÷ $330,585K
= 0.19

The cash ratio of Werner Enterprises, Inc. has fluctuated over the past five years. As of December 31, 2023, the cash ratio stands at 0.44, indicating that the company has $0.44 in cash and cash equivalents for every $1 of current liabilities.

Comparing this to previous years, we see a decrease from 0.64 in 2022 to 0.44 in 2023. This decline may raise concerns about the company's liquidity and ability to meet its short-term obligations solely from its cash reserves.

However, it is important to note that the cash ratio has generally been above 0.3 over the past five years, suggesting that Werner Enterprises, Inc. has maintained a relatively healthy level of liquidity. Investors and creditors may want to monitor this ratio closely to ensure that the company continues to have sufficient cash on hand to cover its immediate liabilities.