XPO Logistics Inc (XPO)

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	412,000	355,000	290,000	309,000	460,000	544,000	436,000	1,004,000	228,000	254,000	801,000	629,000	1,731,000	2,025,000	2,285,000	1,127,000	377,000	425,000	497,000	376,000
Short-term investments	US$ in thousands	—	1,000	2,000	—	—	—	—	—	32,000	—	—	—	323,000	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	1,590,000	1,522,000	1,533,000	1,546,000	1,507,000	2,442,000	2,634,000	3,432,000	2,548,000	2,527,000	4,377,000	4,176,000	5,161,000	3,648,000	3,329,000	3,385,000	3,258,000	3,207,000	3,671,000	3,441,000
Cash ratio		0.26	0.23	0.19	0.20	0.31	0.22	0.17	0.29	0.10	0.10	0.18	0.15	0.40	0.56	0.69	0.33	0.12	0.13	0.14	0.11

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($412,000K + $—K) ÷ $1,590,000K
= 0.26

The cash ratio of XPO Inc has fluctuated over the past eight quarters. In Q4 2023, the cash ratio stood at 0.39, indicating that XPO Inc had $0.39 in cash and cash equivalents for every $1 of current liabilities. This represented an increase from the previous quarter, where the cash ratio was 0.36.

Comparing Q4 2023 to the same quarter in the previous year, the cash ratio decreased from 0.44 to 0.39. This suggests a slight decline in XPO Inc's ability to cover its short-term liabilities solely with cash and cash equivalents.

Overall, XPO Inc's cash ratio has shown variability over the past year, with fluctuations in different quarters. It is important for stakeholders to monitor this ratio to assess the company's liquidity position and its ability to meet its short-term obligations with available cash resources.