Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Johnson Controls International plc, liquidity ratios
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Johnson Controls International plc current ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Johnson Controls International plc quick ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Johnson Controls International plc cash ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Current Ratio
Johnson Controls International plc, current ratio calculation, comparison to benchmarks
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current assets | 10,737) | 11,685) | 9,998) | 10,053) | 12,393) | 11,823) | |
| Current liabilities | 11,084) | 11,239) | 9,098) | 8,248) | 9,070) | 11,250) | |
| Liquidity Ratio | |||||||
| Current ratio1 | 0.97 | 1.04 | 1.10 | 1.22 | 1.37 | 1.05 | |
| Benchmarks | |||||||
| Current Ratio, Competitors2 | |||||||
| Boeing Co. | 1.14 | 1.22 | 1.33 | 1.39 | 1.05 | — | |
| Caterpillar Inc. | 1.35 | 1.39 | 1.46 | 1.53 | 1.47 | — | |
| Eaton Corp. plc | 1.51 | 1.38 | 1.04 | 1.56 | 1.70 | — | |
| GE Aerospace | 1.18 | 1.16 | 1.28 | 1.58 | 1.16 | — | |
| Honeywell International Inc. | 1.27 | 1.25 | 1.30 | 1.47 | 1.34 | — | |
| Lockheed Martin Corp. | 1.21 | 1.32 | 1.42 | 1.39 | 1.22 | — | |
| RTX Corp. | 1.04 | 1.09 | 1.19 | 1.21 | 1.08 | — | |
| Current Ratio, Sector | |||||||
| Capital Goods | 1.18 | 1.22 | 1.31 | 1.43 | 1.17 | — | |
| Current Ratio, Industry | |||||||
| Industrials | 1.18 | 1.21 | 1.30 | 1.42 | 1.19 | — | |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30).
1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 10,737 ÷ 11,084 = 0.97
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. | Johnson Controls International plc current ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Quick Ratio
Johnson Controls International plc, quick ratio calculation, comparison to benchmarks
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Cash and cash equivalents | 835) | 2,031) | 1,336) | 1,951) | 2,805) | 200) | |
| Accounts receivable, less allowance for expected credit losses | 6,006) | 5,528) | 5,613) | 5,294) | 5,770) | 7,065) | |
| Total quick assets | 6,841) | 7,559) | 6,949) | 7,245) | 8,575) | 7,265) | |
| Current liabilities | 11,084) | 11,239) | 9,098) | 8,248) | 9,070) | 11,250) | |
| Liquidity Ratio | |||||||
| Quick ratio1 | 0.62 | 0.67 | 0.76 | 0.88 | 0.95 | 0.65 | |
| Benchmarks | |||||||
| Quick Ratio, Competitors2 | |||||||
| Boeing Co. | 0.28 | 0.32 | 0.34 | 0.41 | 0.23 | — | |
| Caterpillar Inc. | 0.74 | 0.79 | 0.89 | 1.02 | 0.98 | — | |
| Eaton Corp. plc | 0.91 | 0.73 | 0.54 | 0.68 | 0.78 | — | |
| GE Aerospace | 0.78 | 0.81 | 0.93 | 1.27 | 0.86 | — | |
| Honeywell International Inc. | 0.84 | 0.88 | 0.94 | 1.15 | 0.99 | — | |
| Lockheed Martin Corp. | 0.99 | 1.09 | 1.15 | 1.05 | 0.93 | — | |
| RTX Corp. | 0.63 | 0.69 | 0.81 | 0.78 | 0.73 | — | |
| Quick Ratio, Sector | |||||||
| Capital Goods | 0.60 | 0.64 | 0.71 | 0.83 | 0.64 | — | |
| Quick Ratio, Industry | |||||||
| Industrials | 0.66 | 0.70 | 0.78 | 0.87 | 0.71 | — | |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30).
1 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 6,841 ÷ 11,084 = 0.62
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. | Johnson Controls International plc quick ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Cash Ratio
Johnson Controls International plc, cash ratio calculation, comparison to benchmarks
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Cash and cash equivalents | 835) | 2,031) | 1,336) | 1,951) | 2,805) | 200) | |
| Total cash assets | 835) | 2,031) | 1,336) | 1,951) | 2,805) | 200) | |
| Current liabilities | 11,084) | 11,239) | 9,098) | 8,248) | 9,070) | 11,250) | |
| Liquidity Ratio | |||||||
| Cash ratio1 | 0.08 | 0.18 | 0.15 | 0.24 | 0.31 | 0.02 | |
| Benchmarks | |||||||
| Cash Ratio, Competitors2 | |||||||
| Boeing Co. | 0.17 | 0.19 | 0.20 | 0.29 | 0.10 | — | |
| Caterpillar Inc. | 0.20 | 0.22 | 0.31 | 0.36 | 0.31 | — | |
| Eaton Corp. plc | 0.34 | 0.09 | 0.08 | 0.19 | 0.12 | — | |
| GE Aerospace | 0.45 | 0.44 | 0.54 | 0.78 | 0.60 | — | |
| Honeywell International Inc. | 0.44 | 0.51 | 0.59 | 0.79 | 0.58 | — | |
| Lockheed Martin Corp. | 0.09 | 0.16 | 0.26 | 0.23 | 0.11 | — | |
| RTX Corp. | 0.14 | 0.16 | 0.22 | 0.25 | 0.21 | — | |
| Cash Ratio, Sector | |||||||
| Capital Goods | 0.24 | 0.26 | 0.32 | 0.44 | 0.31 | — | |
| Cash Ratio, Industry | |||||||
| Industrials | 0.27 | 0.29 | 0.35 | 0.45 | 0.34 | — | |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30).
1 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 835 ÷ 11,084 = 0.08
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. | Johnson Controls International plc cash ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |