Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Fidelity National Information Services Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
- Current Ratio Trend
- The current ratio exhibited significant volatility early in the observed periods, notably peaking sharply at 3.00 in June 2019 before declining below 1.0 throughout the remainder of 2019 and into 2020. From March 2020 onwards, the ratio generally stabilized between approximately 0.69 and 0.81, indicating relatively consistent short-term liquidity but below the conventional benchmark of 1.0 for healthy current asset coverage over liabilities. This suggests a conservative working capital position or potentially tighter liquidity management in recent years.
- Quick Ratio Trend
- The quick ratio followed a similar pattern to the current ratio, with an extraordinary spike at 2.90 in June 2019, then a decline to levels below 1.0 and mostly fluctuating between 0.63 and 0.77 across subsequent quarters. This pattern reaffirms a moderate liquidity stance with limited reliance on inventory for covering current liabilities. The gradual downward trend observed from mid-2021 through mid-2022, followed by a mild recovery, indicates some variability but overall stable quick asset coverage.
- Cash Ratio Trend
- The cash ratio also showed a marked peak in June 2019 at 2.34, substantially above other periods. Subsequently, it declined sharply and remained relatively low, oscillating between approximately 0.09 and 0.17. These levels reflect conservative but limited immediate cash and equivalents available against current liabilities. Minor upticks occurred sporadically, but no sustained improvement in cash liquidity is observable across the latest quarters, demonstrating a cautious approach to cash holdings.
- General Insights
- Across all three liquidity ratios—current, quick, and cash—the data indicate a sharp anomaly in the second quarter of 2019 with unusually high liquidity metrics, possibly due to one-time factors or specific balance sheet events. Following this, the company has maintained liquidity ratios generally below or near 1.0, positioning itself with moderate short-term liquidity buffers. The persistent ratios under 1.0 may signal an operational strategy focused on efficient asset utilization and restrained current asset investment. However, this also entails a tighter margin for meeting short-term obligations in the absence of additional financing or quick asset conversion.
Current Ratio
Fidelity National Information Services Inc., current ratio calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Current assets | 10,966) | 12,818) | 10,593) | 10,706) | 10,145) | 10,708) | 10,011) | 9,438) | 9,105) | 9,898) | 9,934) | 8,600) | 8,346) | 8,692) | 9,325) | 12,505) | 3,611) | ||||||
| Current liabilities | 14,728) | 16,224) | 13,671) | 15,528) | 13,777) | 14,466) | 12,627) | 11,494) | 11,208) | 12,361) | 12,775) | 12,117) | 7,926) | 10,382) | 10,901) | 4,170) | 3,521) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Current ratio1 | 0.74 | 0.79 | 0.77 | 0.69 | 0.74 | 0.74 | 0.79 | 0.82 | 0.81 | 0.80 | 0.78 | 0.71 | 1.05 | 0.84 | 0.86 | 3.00 | 1.03 | ||||||
| Benchmarks | |||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||
| Accenture PLC | 1.26 | 1.23 | 1.27 | 1.23 | 1.22 | 1.25 | 1.42 | 1.39 | 1.45 | — | — | — | — | — | — | — | — | ||||||
| Adobe Inc. | 1.12 | 1.11 | 1.14 | 1.07 | 1.04 | 1.25 | 1.39 | 1.31 | 1.27 | 1.48 | 1.44 | 1.29 | 1.23 | — | — | — | — | ||||||
| AppLovin Corp. | 3.31 | 3.35 | 3.36 | 2.82 | 2.93 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cadence Design Systems Inc. | 1.44 | 1.27 | 1.33 | 1.59 | 1.81 | 1.77 | 1.70 | 1.57 | 1.70 | — | — | — | — | — | — | — | — | ||||||
| CrowdStrike Holdings Inc. | 1.83 | 1.83 | 1.90 | 1.98 | 2.07 | 2.65 | 1.91 | 2.18 | 2.25 | — | — | — | — | — | — | — | — | ||||||
| Datadog Inc. | 3.19 | 3.09 | 3.23 | 3.31 | 3.33 | 3.54 | 3.94 | 4.31 | 5.45 | — | — | — | — | — | — | — | — | ||||||
| International Business Machines Corp. | 1.16 | 0.92 | 0.95 | 0.88 | 0.92 | 0.88 | 0.84 | 0.84 | 0.93 | — | — | — | — | — | — | — | — | ||||||
| Intuit Inc. | 1.37 | 1.39 | 1.63 | 1.18 | 2.10 | 1.94 | 1.96 | 1.53 | 3.09 | — | — | — | — | — | — | — | — | ||||||
| Microsoft Corp. | 1.84 | 1.78 | 1.99 | 2.25 | 2.16 | 2.08 | 2.29 | 2.58 | 2.53 | — | — | — | — | — | — | — | — | ||||||
| Oracle Corp. | 0.60 | 1.62 | 1.52 | 1.65 | 2.04 | 2.30 | 2.16 | 2.17 | 2.66 | — | — | — | — | — | — | — | — | ||||||
| Palantir Technologies Inc. | 5.41 | 5.17 | 4.28 | 4.36 | 4.38 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Palo Alto Networks Inc. | 0.70 | 0.77 | 0.74 | 0.66 | 0.68 | 0.91 | 1.38 | 0.98 | 1.63 | — | — | — | — | — | — | — | — | ||||||
| Salesforce Inc. | 1.03 | 1.05 | 1.06 | 0.93 | 1.33 | 1.23 | 1.22 | 1.15 | 1.15 | — | — | — | — | — | — | — | — | ||||||
| ServiceNow Inc. | 1.17 | 1.11 | 1.24 | 1.12 | 1.12 | 1.05 | 1.13 | 1.08 | 1.23 | — | — | — | — | — | — | — | — | ||||||
| Synopsys Inc. | 1.11 | 1.09 | 1.14 | 1.25 | 1.19 | 1.16 | 1.18 | 1.19 | 1.10 | 1.19 | 1.06 | 0.95 | 0.95 | — | — | — | — | ||||||
| Workday Inc. | 1.56 | 1.03 | 1.10 | 1.04 | 0.93 | 1.12 | 1.09 | 1.45 | 1.25 | — | — | — | — | — | — | — | — | ||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 10,966 ÷ 14,728 = 0.74
2 Click competitor name to see calculations.
- Current Assets
- The current assets exhibit significant fluctuations over the observed periods. There is an initial sharp increase from 3,611 million US dollars at the end of March 2019 to 12,505 million in June of the same year. Subsequently, current assets decline somewhat and stabilize in the 8,300 to 10,700 million range until late 2022, with periodic rises and falls. Notably, there is a pronounced increase towards the end of 2022 and early 2023, culminating at 12,818 million in December 2022, followed by a decrease to 10,966 million in March 2023.
- Current Liabilities
- Current liabilities also show notable volatility. Starting at 3,521 million in March 2019, there is a sharp rise to 10,901 million by September 2019, maintaining elevated levels with spikes through 2020 and 2021. From early 2021 onwards, there is a general upward trend, peaking at 16,224 million in December 2022, then slightly decreasing to 14,728 million in March 2023. The values consistently remain higher than current assets throughout the latter part of the dataset.
- Current Ratio
- The current ratio, calculated as current assets divided by current liabilities, reflects the liquidity position. The ratio starts near parity at 1.03 in March 2019, then increases sharply to 3.0 in June 2019, indicative of a strong short-term liquidity position at that point. However, it declines sharply afterwards, falling below 1.0 from September 2019 onward, reaching lows around 0.69 to 0.79 in 2022 and early 2023. This sustained ratio below 1 suggests that current liabilities exceed current assets persistently during this period, indicating potential liquidity pressures.
- Summary
- Overall, the data indicate a period of elevated current liabilities relative to current assets starting in late 2019. Despite fluctuations in both assets and liabilities, liabilities remain consistently high exceeding assets, which is reflected in the current ratio staying below 1.0 for most of the analyzed timeframe after mid-2019. This trend may reflect increased short-term obligations or changes in working capital management. The decline in the current ratio over time highlights a potential reduction in liquidity buffer, warranting attention to the company's ability to cover short-term liabilities with its current assets.
Quick Ratio
Fidelity National Information Services Inc., quick ratio calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Cash and cash equivalents | 1,871) | 2,188) | 1,932) | 1,688) | 1,547) | 2,010) | 1,390) | 1,301) | 1,039) | 1,959) | 1,826) | 1,183) | 1,373) | 1,152) | 1,305) | 9,756) | 576) | ||||||
| Settlement assets | 4,425) | 5,855) | 4,359) | 4,334) | 4,062) | 4,020) | 4,333) | 3,734) | 3,622) | 3,914) | 3,614) | 3,531) | 3,107) | 3,529) | 4,231) | 827) | 1,012) | ||||||
| Trade receivables, net of allowance for credit losses | 3,476) | 3,699) | 3,373) | 3,520) | 3,655) | 3,772) | 3,468) | 3,466) | 3,508) | 3,314) | 3,146) | 3,104) | 3,116) | 3,242) | 3,065) | 1,366) | 1,451) | ||||||
| Other receivables | 486) | 493) | 293) | 251) | 260) | 355) | 331) | 380) | 470) | 317) | 361) | 299) | 275) | 337) | 269) | 137) | 150) | ||||||
| Total quick assets | 10,258) | 12,235) | 9,957) | 9,793) | 9,524) | 10,157) | 9,522) | 8,881) | 8,639) | 9,504) | 8,947) | 8,117) | 7,871) | 8,260) | 8,870) | 12,086) | 3,189) | ||||||
| Current liabilities | 14,728) | 16,224) | 13,671) | 15,528) | 13,777) | 14,466) | 12,627) | 11,494) | 11,208) | 12,361) | 12,775) | 12,117) | 7,926) | 10,382) | 10,901) | 4,170) | 3,521) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Quick ratio1 | 0.70 | 0.75 | 0.73 | 0.63 | 0.69 | 0.70 | 0.75 | 0.77 | 0.77 | 0.77 | 0.70 | 0.67 | 0.99 | 0.80 | 0.81 | 2.90 | 0.91 | ||||||
| Benchmarks | |||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||
| Accenture PLC | 1.12 | 1.12 | 1.14 | 1.10 | 1.10 | 1.14 | 1.31 | 1.27 | 1.34 | — | — | — | — | — | — | — | — | ||||||
| Adobe Inc. | 1.00 | 1.00 | 1.01 | 0.93 | 0.89 | 1.11 | 1.25 | 1.18 | 1.12 | 1.34 | 1.28 | 1.11 | 1.06 | — | — | — | — | ||||||
| AppLovin Corp. | 3.04 | 3.08 | 2.96 | 2.55 | 2.67 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cadence Design Systems Inc. | 1.19 | 1.02 | 1.13 | 1.36 | 1.56 | 1.47 | 1.48 | 1.33 | 1.43 | — | — | — | — | — | — | — | — | ||||||
| CrowdStrike Holdings Inc. | 1.68 | 1.68 | 1.76 | 1.81 | 1.93 | 2.50 | 1.76 | 2.01 | 2.07 | — | — | — | — | — | — | — | — | ||||||
| Datadog Inc. | 3.09 | 3.01 | 3.14 | 3.21 | 3.23 | 3.45 | 3.84 | 4.19 | 5.31 | — | — | — | — | — | — | — | — | ||||||
| International Business Machines Corp. | 0.99 | 0.76 | 0.75 | 0.68 | 0.73 | 0.69 | 0.64 | 0.66 | 0.75 | — | — | — | — | — | — | — | — | ||||||
| Intuit Inc. | 1.10 | 1.17 | 1.29 | 0.78 | 1.71 | 1.60 | 1.72 | 1.20 | 2.74 | — | — | — | — | — | — | — | — | ||||||
| Microsoft Corp. | 1.59 | 1.57 | 1.77 | 2.05 | 1.96 | 1.90 | 2.10 | 2.36 | 2.30 | — | — | — | — | — | — | — | — | ||||||
| Oracle Corp. | 0.49 | 1.43 | 1.34 | 1.45 | 1.90 | 2.15 | 2.00 | 2.02 | 2.50 | — | — | — | — | — | — | — | — | ||||||
| Palantir Technologies Inc. | 5.25 | 4.92 | 4.08 | 4.09 | 4.15 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Palo Alto Networks Inc. | 0.65 | 0.73 | 0.70 | 0.62 | 0.64 | 0.86 | 1.23 | 0.88 | 1.48 | — | — | — | — | — | — | — | — | ||||||
| Salesforce Inc. | 0.88 | 0.93 | 0.89 | 0.79 | 1.19 | 1.11 | 1.05 | 0.98 | 1.00 | — | — | — | — | — | — | — | — | ||||||
| ServiceNow Inc. | 1.11 | 1.06 | 1.17 | 1.06 | 1.06 | 1.01 | 1.07 | 1.03 | 1.19 | — | — | — | — | — | — | — | — | ||||||
| Synopsys Inc. | 0.86 | 0.85 | 0.87 | 0.99 | 0.93 | 0.89 | 0.90 | 0.92 | 0.83 | 0.94 | 0.82 | 0.73 | 0.73 | — | — | — | — | ||||||
| Workday Inc. | 1.47 | 0.96 | 1.03 | 0.98 | 0.86 | 1.07 | 1.02 | 1.35 | 1.15 | — | — | — | — | — | — | — | — | ||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 10,258 ÷ 14,728 = 0.70
2 Click competitor name to see calculations.
The financial analysis over the examined periods reveals several key trends in liquidity and short-term financial health. The total quick assets exhibit significant volatility, with an initial sharp increase followed by fluctuations and a general downtrend toward the end of the period. Specifically, quick assets peaked in the second quarter of 2019 before declining and then stabilizing somewhat in the subsequent quarters, though with notable variations.
Current liabilities show a marked upward trend overall. Starting at a lower level in early 2019, current liabilities quadruple by mid-2019 and continue increasing with some fluctuations, reaching their highest points in late 2022 and early 2023. This sustained rise in short-term obligations indicates growing liability pressures over the timeline.
The quick ratio, which measures immediate liquidity by comparing quick assets to current liabilities, reflects these dynamics. It began close to parity (around 0.9) in early 2019, surged significantly in the second quarter of 2019 (peaking near 2.9), but thereafter declined quickly to levels consistently below 1.0. Throughout most of the subsequent periods, the quick ratio stabilizes in a range between 0.63 and 0.77, suggesting that quick assets cover only about 63% to 77% of current liabilities. This indicates a potential liquidity concern, as values persistently under 1.0 imply that the company may not have sufficient liquid assets to meet short-term obligations without raising additional funds.
Overall, the data suggest that the company's liquidity position weakened after the mid-2019 peak, with current liabilities growing faster than quick assets. This divergence caused a persistent decline in the quick ratio, which remained below the threshold of 1.0 in most recent periods. Such a trend highlights the need for careful liquidity management to ensure coverage of near-term liabilities and maintain financial stability.
Cash Ratio
Fidelity National Information Services Inc., cash ratio calculation (quarterly data)
| 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||
| Cash and cash equivalents | 1,871) | 2,188) | 1,932) | 1,688) | 1,547) | 2,010) | 1,390) | 1,301) | 1,039) | 1,959) | 1,826) | 1,183) | 1,373) | 1,152) | 1,305) | 9,756) | 576) | ||||||
| Total cash assets | 1,871) | 2,188) | 1,932) | 1,688) | 1,547) | 2,010) | 1,390) | 1,301) | 1,039) | 1,959) | 1,826) | 1,183) | 1,373) | 1,152) | 1,305) | 9,756) | 576) | ||||||
| Current liabilities | 14,728) | 16,224) | 13,671) | 15,528) | 13,777) | 14,466) | 12,627) | 11,494) | 11,208) | 12,361) | 12,775) | 12,117) | 7,926) | 10,382) | 10,901) | 4,170) | 3,521) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Cash ratio1 | 0.13 | 0.13 | 0.14 | 0.11 | 0.11 | 0.14 | 0.11 | 0.11 | 0.09 | 0.16 | 0.14 | 0.10 | 0.17 | 0.11 | 0.12 | 2.34 | 0.16 | ||||||
| Benchmarks | |||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||
| Accenture PLC | 0.36 | 0.45 | 0.41 | 0.35 | 0.37 | 0.52 | 0.67 | 0.65 | 0.68 | — | — | — | — | — | — | — | — | ||||||
| Adobe Inc. | 0.76 | 0.75 | 0.77 | 0.72 | 0.65 | 0.84 | 1.00 | 0.94 | 0.85 | 1.09 | 1.03 | 0.84 | 0.80 | — | — | — | — | ||||||
| AppLovin Corp. | 2.01 | 1.87 | 1.74 | 1.48 | 1.80 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cadence Design Systems Inc. | 0.78 | 0.65 | 0.82 | 0.99 | 1.18 | 1.12 | 1.12 | 0.91 | 0.94 | — | — | — | — | — | — | — | — | ||||||
| CrowdStrike Holdings Inc. | 1.44 | 1.42 | 1.54 | 1.57 | 1.71 | 2.22 | 1.51 | 1.76 | 1.81 | — | — | — | — | — | — | — | — | ||||||
| Datadog Inc. | 2.61 | 2.48 | 2.62 | 2.72 | 2.78 | 2.94 | 3.33 | 3.70 | 4.82 | — | — | — | — | — | — | — | — | ||||||
| International Business Machines Corp. | 0.57 | 0.28 | 0.32 | 0.24 | 0.32 | 0.22 | 0.23 | 0.22 | 0.31 | — | — | — | — | — | — | — | — | ||||||
| Intuit Inc. | 0.82 | 0.90 | 1.09 | 0.48 | 1.52 | 1.46 | 1.52 | 1.02 | 2.69 | — | — | — | — | — | — | — | — | ||||||
| Microsoft Corp. | 1.23 | 1.10 | 1.35 | 1.62 | 1.62 | 1.47 | 1.74 | 1.96 | 1.97 | — | — | — | — | — | — | — | — | ||||||
| Oracle Corp. | 0.32 | 1.12 | 1.12 | 1.21 | 1.70 | 1.93 | 1.77 | 1.81 | 2.26 | — | — | — | — | — | — | — | — | ||||||
| Palantir Technologies Inc. | 4.83 | 4.48 | 3.59 | 3.69 | 3.77 | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Palo Alto Networks Inc. | 0.46 | 0.44 | 0.50 | 0.45 | 0.48 | 0.57 | 0.98 | 0.72 | 1.22 | — | — | — | — | — | — | — | — | ||||||
| Salesforce Inc. | 0.68 | 0.48 | 0.62 | 0.55 | 0.98 | 0.67 | 0.78 | 0.72 | 0.76 | — | — | — | — | — | — | — | — | ||||||
| ServiceNow Inc. | 0.85 | 0.71 | 0.89 | 0.81 | 0.83 | 0.67 | 0.80 | 0.76 | 0.94 | — | — | — | — | — | — | — | — | ||||||
| Synopsys Inc. | 0.48 | 0.56 | 0.60 | 0.70 | 0.51 | 0.65 | 0.66 | 0.65 | 0.47 | 0.58 | 0.51 | 0.42 | 0.34 | — | — | — | — | ||||||
| Workday Inc. | 1.31 | 0.72 | 0.83 | 0.77 | 0.71 | 0.83 | 0.81 | 1.08 | 0.94 | — | — | — | — | — | — | — | — | ||||||
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 1,871 ÷ 14,728 = 0.13
2 Click competitor name to see calculations.
The financial data reveals notable fluctuations in total cash assets, current liabilities, and the cash ratio over the analyzed periods. These changes provide insights into liquidity management and short-term financial stability.
- Total Cash Assets
- Over the course of the periods, total cash assets exhibited significant volatility. Initially, there was a sharp increase from a relatively low level to a peak in mid-2019, followed by a decline towards the end of that year. Subsequent quarters showed a pattern of gradual recovery with moderate growth, reaching another high point near the end of 2022. The last recorded quarter indicates a slight reduction compared to the prior quarter but remains well above the earliest recorded levels.
- Current Liabilities
- Current liabilities experienced a marked increase particularly in the second and third quarters of 2019, nearly tripling compared to the first quarter of that year. Although there were fluctuations after this spike, the general trend across the dataset shows an upward trajectory in liabilities, with several quarters exhibiting substantial rises. This upward pattern culminates in the highest levels at the end of 2022 and early 2023, suggesting increased short-term obligations over time.
- Cash Ratio
- The cash ratio, which measures the ability to cover current liabilities with cash and cash equivalents, reflected considerable instability. An exceptional peak occurred in mid-2019, indicating strong liquidity during that quarter. However, this was followed by a steep decline to single-digit ratios for the remainder of 2019 and largely stable but low ratios averaging around 0.10 to 0.16 in the following years. These levels imply that cash alone covers only a fraction of short-term liabilities, pointing to a relatively conservative liquidity position or reliance on other current assets for meeting obligations.
In summary, the data indicates that while total cash assets have generally improved from the early period lows, current liabilities have grown significantly, exerting pressure on liquidity measures. The cash ratio’s sustained low values after 2019 suggest that cash reserves are a limited component of the company’s current asset base in terms of covering liabilities, highlighting a potential area for financial risk monitoring.