Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Air Products & Chemicals Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-K (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-K (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-K (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Air Products & Chemicals Inc. current ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Air Products & Chemicals Inc. quick ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Air Products & Chemicals Inc. cash ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level. |
Current Ratio
Air Products & Chemicals Inc., current ratio calculation (quarterly data)
| 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 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Current assets | 8,376,800) | 8,766,600) | 8,809,800) | 8,684,900) | 9,006,500) | 4,688,500) | 4,719,700) | 4,618,300) | 4,915,200) | 4,895,200) | 5,089,900) | 5,082,200) | 5,055,500) | 5,396,300) | 5,355,500) | 5,876,700) | 5,347,000) | 5,294,100) | 3,548,800) | 4,317,300) | 3,378,800) | 3,031,200) | 2,779,000) | 2,910,800) | 3,102,300) | 3,114,500) | 3,137,200) | ||||||||
| Current liabilities | 2,697,100) | 3,017,400) | 2,985,900) | 2,416,700) | 2,591,000) | 1,806,900) | 1,819,000) | 1,820,900) | 2,155,200) | 2,073,000) | 2,303,500) | 2,338,300) | 2,109,800) | 1,752,300) | 1,831,600) | 2,489,000) | 2,433,200) | 2,602,300) | 2,929,800) | 3,283,300) | 3,658,900) | 3,839,100) | 3,572,400) | 3,648,100) | 2,918,900) | 3,081,300) | 3,001,900) | ||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||||
| Current ratio1 | 3.11 | 2.91 | 2.95 | 3.59 | 3.48 | 2.59 | 2.59 | 2.54 | 2.28 | 2.36 | 2.21 | 2.17 | 2.40 | 3.08 | 2.92 | 2.36 | 2.20 | 2.03 | 1.21 | 1.31 | 0.92 | 0.79 | 0.78 | 0.80 | 1.06 | 1.01 | 1.05 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
| Linde plc | 0.81 | 0.71 | 0.74 | 0.80 | 0.83 | 0.80 | 0.74 | 0.85 | 0.90 | 1.02 | 1.35 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Sherwin-Williams Co. | 0.83 | 0.84 | 0.90 | 1.00 | 1.19 | 1.09 | 0.94 | 1.02 | 1.01 | 0.80 | 0.96 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-K (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-K (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-K (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31).
1 Q3 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= 8,376,800 ÷ 2,697,100 = 3.11
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Air Products & Chemicals Inc. current ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level. |
Quick Ratio
Air Products & Chemicals Inc., quick ratio calculation (quarterly data)
| 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 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Cash and cash items | 4,291,600) | 5,786,300) | 5,788,000) | 5,253,000) | 3,921,400) | 2,220,100) | 2,406,100) | 2,248,700) | 2,696,800) | 2,735,900) | 2,923,300) | 2,791,300) | 2,986,500) | 3,066,900) | 2,722,600) | 3,273,600) | 2,332,600) | 1,869,300) | 655,500) | 1,501,300) | 514,800) | 313,100) | 279,100) | 206,400) | 215,300) | 195,700) | 238,800) | ||||||||
| Short-term investments | 1,524,900) | 409,200) | 412,000) | 1,104,900) | 2,515,700) | —) | —) | 166,000) | —) | 2,600) | 12,300) | 184,700) | 7,300) | 137,000) | 407,100) | 404,000) | 1,016,100) | 1,423,200) | —) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||||
| Trade receivables, net | 1,419,300) | 1,388,900) | 1,419,700) | 1,274,800) | 1,409,700) | 1,399,400) | 1,288,600) | 1,260,200) | 1,340,700) | 1,258,500) | 1,268,200) | 1,207,200) | 1,227,600) | 1,252,300) | 1,233,400) | 1,174,000) | 1,101,200) | 1,176,300) | 1,063,300) | 1,439,900) | 1,563,200) | 1,373,300) | 1,288,500) | 1,406,200) | 1,440,800) | 1,381,400) | 1,430,400) | ||||||||
| Total quick assets | 7,235,800) | 7,584,400) | 7,619,700) | 7,632,700) | 7,846,800) | 3,619,500) | 3,694,700) | 3,674,900) | 4,037,500) | 3,997,000) | 4,203,800) | 4,183,200) | 4,221,400) | 4,456,200) | 4,363,100) | 4,851,600) | 4,449,900) | 4,468,800) | 1,718,800) | 2,941,200) | 2,078,000) | 1,686,400) | 1,567,600) | 1,612,600) | 1,656,100) | 1,577,100) | 1,669,200) | ||||||||
| Current liabilities | 2,697,100) | 3,017,400) | 2,985,900) | 2,416,700) | 2,591,000) | 1,806,900) | 1,819,000) | 1,820,900) | 2,155,200) | 2,073,000) | 2,303,500) | 2,338,300) | 2,109,800) | 1,752,300) | 1,831,600) | 2,489,000) | 2,433,200) | 2,602,300) | 2,929,800) | 3,283,300) | 3,658,900) | 3,839,100) | 3,572,400) | 3,648,100) | 2,918,900) | 3,081,300) | 3,001,900) | ||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||||
| Quick ratio1 | 2.68 | 2.51 | 2.55 | 3.16 | 3.03 | 2.00 | 2.03 | 2.02 | 1.87 | 1.93 | 1.82 | 1.79 | 2.00 | 2.54 | 2.38 | 1.95 | 1.83 | 1.72 | 0.59 | 0.90 | 0.57 | 0.44 | 0.44 | 0.44 | 0.57 | 0.51 | 0.56 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
| Linde plc | 0.63 | 0.52 | 0.56 | 0.59 | 0.64 | 0.61 | 0.54 | 0.61 | 0.62 | 0.72 | 0.94 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Sherwin-Williams Co. | 0.45 | 0.45 | 0.48 | 0.50 | 0.71 | 0.60 | 0.48 | 0.50 | 0.55 | 0.44 | 0.49 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-K (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-K (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-K (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31).
1 Q3 2021 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 7,235,800 ÷ 2,697,100 = 2.68
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Air Products & Chemicals Inc. quick ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level. |
Cash Ratio
Air Products & Chemicals Inc., cash ratio calculation (quarterly data)
| 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 | 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Cash and cash items | 4,291,600) | 5,786,300) | 5,788,000) | 5,253,000) | 3,921,400) | 2,220,100) | 2,406,100) | 2,248,700) | 2,696,800) | 2,735,900) | 2,923,300) | 2,791,300) | 2,986,500) | 3,066,900) | 2,722,600) | 3,273,600) | 2,332,600) | 1,869,300) | 655,500) | 1,501,300) | 514,800) | 313,100) | 279,100) | 206,400) | 215,300) | 195,700) | 238,800) | ||||||||
| Short-term investments | 1,524,900) | 409,200) | 412,000) | 1,104,900) | 2,515,700) | —) | —) | 166,000) | —) | 2,600) | 12,300) | 184,700) | 7,300) | 137,000) | 407,100) | 404,000) | 1,016,100) | 1,423,200) | —) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||||
| Total cash assets | 5,816,500) | 6,195,500) | 6,200,000) | 6,357,900) | 6,437,100) | 2,220,100) | 2,406,100) | 2,414,700) | 2,696,800) | 2,738,500) | 2,935,600) | 2,976,000) | 2,993,800) | 3,203,900) | 3,129,700) | 3,677,600) | 3,348,700) | 3,292,500) | 655,500) | 1,501,300) | 514,800) | 313,100) | 279,100) | 206,400) | 215,300) | 195,700) | 238,800) | ||||||||
| Current liabilities | 2,697,100) | 3,017,400) | 2,985,900) | 2,416,700) | 2,591,000) | 1,806,900) | 1,819,000) | 1,820,900) | 2,155,200) | 2,073,000) | 2,303,500) | 2,338,300) | 2,109,800) | 1,752,300) | 1,831,600) | 2,489,000) | 2,433,200) | 2,602,300) | 2,929,800) | 3,283,300) | 3,658,900) | 3,839,100) | 3,572,400) | 3,648,100) | 2,918,900) | 3,081,300) | 3,001,900) | ||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||||
| Cash ratio1 | 2.16 | 2.05 | 2.08 | 2.63 | 2.48 | 1.23 | 1.32 | 1.33 | 1.25 | 1.32 | 1.27 | 1.27 | 1.42 | 1.83 | 1.71 | 1.48 | 1.38 | 1.27 | 0.22 | 0.46 | 0.14 | 0.08 | 0.08 | 0.06 | 0.07 | 0.06 | 0.08 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
| Linde plc | 0.32 | 0.21 | 0.27 | 0.27 | 0.35 | 0.33 | 0.26 | 0.22 | 0.19 | 0.26 | 0.52 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Sherwin-Williams Co. | 0.05 | 0.04 | 0.06 | 0.05 | 0.14 | 0.04 | 0.05 | 0.04 | 0.04 | 0.02 | 0.02 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-K (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-K (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-K (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31).
1 Q3 2021 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 5,816,500 ÷ 2,697,100 = 2.16
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Air Products & Chemicals Inc. cash ratio deteriorated from Q1 2021 to Q2 2021 but then improved from Q2 2021 to Q3 2021 exceeding Q1 2021 level. |