Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
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- Income Statement
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- Analysis of Profitability Ratios
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- Analysis of Geographic Areas
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Liquidity Ratios (Summary)
Twenty-First Century Fox Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-K (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-K (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-K (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30).
The analysis of liquidity ratios over the examined periods reveals distinct trends in the company's short-term financial health.
- Current Ratio
- The current ratio shows notable fluctuations, starting at 1.86 and dipping to a low near 1.61 during early 2014. A significant increase is observed at the end of 2014, peaking at 2.8. Subsequently, it experiences moderate declines and rises, maintaining a level generally above 2.0 through 2015 to 2018. The ratio culminates sharply at 4.29 in the last quarter observed, indicating a substantial increase in current assets relative to current liabilities, which suggests enhanced short-term liquidity.
- Quick Ratio
- The quick ratio mirrors the current ratio's general trend but remains consistently lower, reflecting the exclusion of inventory from liquid assets. It starts at 1.38 and decreases to 1.2 in late 2014 before rising sharply to 2.31 in the same period. After some variation around 1.5 to 1.8 in subsequent years, it dramatically increases to 3.7 in the final quarter. This improvement implies better immediate liquidity, reducing reliance on selling inventory to meet short-term obligations.
- Cash Ratio
- The cash ratio follows a similar pattern with the lowest initial values around 0.51 in late 2014. The ratio improves substantially towards the end of 2014, doubling to approximately 1.39, then declines and stabilizes between 0.6 and 0.9 over the next few years. A pronounced surge to 2.68 in the last quarter of the period indicates a considerable increase in cash and cash equivalents relative to current liabilities, representing strong cash liquidity.
Overall, the liquidity ratios reflect an increasing capacity to cover short-term liabilities, with the most significant improvements apparent in the later periods. The sharp rises at the end of the timeframe suggest a strategic accumulation of liquid assets or a reduction in current liabilities, enhancing the company's financial stability in the short term.
Current Ratio
Twenty-First Century Fox Inc., current ratio calculation (quarterly data)
| Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Current assets | |||||||||||||||||||||||||||||
| Current liabilities | |||||||||||||||||||||||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||
| Current ratio1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||||||||
| Comcast Corp. | |||||||||||||||||||||||||||||
| Meta Platforms Inc. | |||||||||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||||||||
| Trade Desk Inc. | |||||||||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-K (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-K (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-K (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30).
1 Q2 2019 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Current Assets
- The current assets exhibit a fluctuating pattern over the periods analyzed. Initially, there is a slight decline from a high point, followed by an increase peaking at approximately 20,264 million US dollars in December 2014. After this peak, current assets trend downward until late 2015, then demonstrate a relatively stable pattern with moderate increases and decreases. Notably, there is a sharp and significant increase in the final period reported, reaching 34,017 million US dollars, which marks the highest value in the dataset.
- Current Liabilities
- Current liabilities show less volatility compared to current assets, remaining mostly within the range of approximately 6,700 to 9,100 million US dollars. There is an initial rise reaching a peak near 9,700 million US dollars in early 2014, followed by a decrease to around 7,200 to 7,400 million US dollars through late 2014 to mid-2015. Subsequent periods show fluctuations but generally maintain a value below 9,100 million. The final periods present a slight upward trend but remain significantly lower than the peak observed in early 2014.
- Current Ratio
- The current ratio moves in correlation with the fluctuations in current assets and liabilities. It begins at 1.86, drops to a low of 1.61 by March 2014, and then increases sharply to a peak of 2.80 by December 2014. Following this peak, the ratio declines gradually, stabilizing around 2.0 to 2.3 over the next several quarters. From late 2017 to late 2018, the ratio shows a moderate upward trend, reaching 2.45. In the last reported period, the current ratio surges dramatically to 4.29, reflecting a substantial improvement in the company's short-term liquidity position, likely driven by the significant increase in current assets relative to current liabilities.
Quick Ratio
Twenty-First Century Fox Inc., quick ratio calculation (quarterly data)
| Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Cash and cash equivalents | |||||||||||||||||||||||||||||
| Receivables, net | |||||||||||||||||||||||||||||
| Total quick assets | |||||||||||||||||||||||||||||
| Current liabilities | |||||||||||||||||||||||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||
| Quick ratio1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||||||||
| Comcast Corp. | |||||||||||||||||||||||||||||
| Meta Platforms Inc. | |||||||||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||||||||
| Trade Desk Inc. | |||||||||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-K (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-K (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-K (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30).
1 Q2 2019 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals notable trends in liquidity and working capital management over the observed periods.
- Total quick assets
- The total quick assets exhibited fluctuations with an initial decline from approximately 12,286 million USD in late 2013 to around 11,006 million USD by the third quarter of 2014. This was followed by a significant increase reaching a peak of 16,720 million USD by the end of 2014. Subsequently, the values experienced a downward trend through 2015 and much of 2016, stabilizing around the 11,000 to 13,000 million USD range. From early 2017 to late 2018, quick assets generally trended upwards, culminating in a sharp rise to 29,364 million USD by the final quarter of 2018, indicating enhanced liquidity at that point.
- Current liabilities
- Current liabilities showed moderate variability across the quarters, with values mostly fluctuating between approximately 6,700 and 9,100 million USD. Notably, liabilities decreased from 8,913 million USD in the third quarter of 2013 to a trough near 6,739 million USD by the end of 2016. Afterward, current liabilities tended to increase and stabilize within the 7,800 to 9,100 million USD range during 2017 and 2018, ending around 7,935 million USD in the last quarter available.
- Quick ratio
- The quick ratio metric indicates the company's short-term liquidity position relative to its current liabilities. Initially, the ratio saw a modest decline from 1.38 in September 2013 to 1.20 by September 2014, reflecting a compression in liquid asset coverage. A significant surge followed in the last quarter of 2014 reaching 2.31, suggesting improved liquidity. Throughout 2015 and 2016, the ratio fluctuated mostly within the 1.4 to 1.7 band. From early 2017 through 2018, the quick ratio maintained a generally stable and slightly increasing trend, mostly staying above 1.5. The last quarter of 2018 showed a pronounced increase to 3.7, indicating a substantial improvement in the company’s ability to cover current liabilities with quick assets.
Overall, the data suggest that the company experienced periods of varying liquidity, with notable enhancement in quick asset holdings relative to liabilities towards the end of the observed timeframe. The pronounced rise in both quick assets and the quick ratio by late 2018 points to a strengthened liquidity position, which may provide greater financial flexibility and resilience in meeting short-term obligations.
Cash Ratio
Twenty-First Century Fox Inc., cash ratio calculation (quarterly data)
| Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Cash and cash equivalents | |||||||||||||||||||||||||||||
| Total cash assets | |||||||||||||||||||||||||||||
| Current liabilities | |||||||||||||||||||||||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||
| Cash ratio1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||||||||
| Comcast Corp. | |||||||||||||||||||||||||||||
| Meta Platforms Inc. | |||||||||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||||||||
| Trade Desk Inc. | |||||||||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-K (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-K (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-K (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30).
1 Q2 2019 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total Cash Assets
- The total cash assets display considerable fluctuations across the reported periods. Starting at 6,681 million USD, the value decreases gradually to a low point around 4,293 million USD by December 31, 2015. From this low, there is a gradual recovery observed up to September 30, 2018, reaching 7,372 million USD. A significant spike occurs by the end of December 31, 2018, with cash assets abruptly increasing to 21,281 million USD, indicating a substantial inflow or asset reclassification late in the period.
- Current Liabilities
- Current liabilities show a relatively stable pattern with mild fluctuations around an average level. Beginning at 8,913 million USD, liabilities oscillate within a generally narrow band between approximately 6,700 and 9,100 million USD throughout the periods. There is no clear long-term upward or downward trend, but periodic increases around the later quarters of some years, such as late 2017 and early 2018, are observed. The ending value at December 31, 2018, stands at 7,935 million USD, slightly lower than the initial period.
- Cash Ratio
- The cash ratio exhibits a volatile trend in the given timeframe. Initial values decline from 0.75 to a notably low 0.51 by September 30, 2014, signifying relatively less cash available against current liabilities. A marked increase follows, with the ratio peaking at 1.39 in December 31, 2014, which represents a period where cash assets substantially exceeded current liabilities. Subsequently, the ratio decreases again and fluctuates within a range roughly between 0.59 and 0.85 over most periods. Importantly, the cash ratio culminates in an exceptionally high value of 2.68 at December 31, 2018, reflecting an unusually large surplus in cash relative to current liabilities at that point in time, consistent with the surge in cash assets.
- Overall Interpretation
- The analysis reveals a cyclical pattern in liquidity as shown by cash assets and cash ratio, with significant peaks and troughs over the intervals. While current liabilities maintain a fairly consistent range, the liquidity position of the company varies considerably, peaking strongly at the end of the period under review. The sharp increase in cash assets and cash ratio at the final date suggests a strategic accumulation of cash or a one-time event impacting liquidity.