Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Kellanova, liquidity ratios
| Dec 30, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Current ratio | 0.66 | 0.66 | 0.64 | 0.66 | 0.72 | |
| Quick ratio | 0.36 | 0.32 | 0.33 | 0.38 | 0.41 | |
| Cash ratio | 0.05 | 0.05 | 0.05 | 0.08 | 0.08 |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Kellanova current ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Kellanova quick ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Kellanova cash ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Current Ratio
Kellanova, current ratio calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 3,330) | 4,186) | 3,394) | 3,482) | 3,431) | |
| Current liabilities | 5,060) | 6,349) | 5,315) | 5,238) | 4,778) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 0.66 | 0.66 | 0.64 | 0.66 | 0.72 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| Coca-Cola Co. | 1.13 | 1.15 | 1.13 | 1.32 | — | |
| Mondelēz International Inc. | 0.62 | 0.60 | 0.74 | 0.66 | — | |
| PepsiCo Inc. | 0.85 | 0.80 | 0.83 | 0.98 | — | |
| Philip Morris International Inc. | 0.75 | 0.72 | 0.92 | 1.10 | — | |
| Current Ratio, Sector | ||||||
| Food, Beverage & Tobacco | 0.85 | 0.82 | 0.91 | 1.01 | — | |
| Current Ratio, Industry | ||||||
| Consumer Staples | 0.84 | 0.87 | 0.93 | 0.92 | — | |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).
1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 3,330 ÷ 5,060 = 0.66
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. | Kellanova current ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Quick Ratio
Kellanova, quick ratio calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 274) | 299) | 286) | 435) | 397) | |
| Accounts receivable, net | 1,568) | 1,736) | 1,489) | 1,537) | 1,576) | |
| Total quick assets | 1,842) | 2,035) | 1,775) | 1,972) | 1,973) | |
| Current liabilities | 5,060) | 6,349) | 5,315) | 5,238) | 4,778) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.36 | 0.32 | 0.33 | 0.38 | 0.41 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| Coca-Cola Co. | 0.72 | 0.77 | 0.81 | 0.96 | — | |
| Mondelēz International Inc. | 0.33 | 0.35 | 0.48 | 0.43 | — | |
| PepsiCo Inc. | 0.66 | 0.58 | 0.56 | 0.77 | — | |
| Philip Morris International Inc. | 0.28 | 0.29 | 0.44 | 0.56 | — | |
| Quick Ratio, Sector | ||||||
| Food, Beverage & Tobacco | 0.51 | 0.49 | 0.58 | 0.68 | — | |
| Quick Ratio, Industry | ||||||
| Consumer Staples | 0.37 | 0.38 | 0.43 | 0.47 | — | |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).
1 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 1,842 ÷ 5,060 = 0.36
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. | Kellanova quick ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Cash Ratio
Kellanova, cash ratio calculation, comparison to benchmarks
| Dec 30, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 28, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 274) | 299) | 286) | 435) | 397) | |
| Total cash assets | 274) | 299) | 286) | 435) | 397) | |
| Current liabilities | 5,060) | 6,349) | 5,315) | 5,238) | 4,778) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.05 | 0.05 | 0.05 | 0.08 | 0.08 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| Coca-Cola Co. | 0.58 | 0.59 | 0.63 | 0.75 | — | |
| Mondelēz International Inc. | 0.10 | 0.11 | 0.25 | 0.24 | — | |
| PepsiCo Inc. | 0.32 | 0.20 | 0.23 | 0.41 | — | |
| Philip Morris International Inc. | 0.12 | 0.12 | 0.23 | 0.37 | — | |
| Cash Ratio, Sector | ||||||
| Food, Beverage & Tobacco | 0.28 | 0.24 | 0.34 | 0.43 | — | |
| Cash Ratio, Industry | ||||||
| Consumer Staples | 0.22 | 0.23 | 0.30 | 0.33 | — | |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).
1 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 274 ÷ 5,060 = 0.05
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. | Kellanova cash ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |