Apple Inc (AAPL)
Quick ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 29,943,000 | 25,565,000 | 32,695,000 | 40,760,000 | 29,965,000 | 28,408,000 | 24,687,000 | 20,535,000 | 23,646,000 | 27,502,000 | 28,098,000 | 37,119,000 | 34,940,000 | 34,050,000 | 38,466,000 | 36,010,000 | 38,016,000 | 33,383,000 | 40,174,000 | 39,771,000 |
| Short-term investments | US$ in thousands | 35,228,000 | 36,236,000 | 34,455,000 | 32,340,000 | 31,590,000 | 34,074,000 | 31,185,000 | 30,820,000 | 24,658,000 | 20,729,000 | 23,413,000 | 26,794,000 | 27,699,000 | 27,646,000 | 31,368,000 | 40,816,000 | 52,927,000 | 59,642,000 | 53,877,000 | 67,391,000 |
| Receivables | US$ in thousands | 66,243,000 | 43,172,000 | 41,150,000 | 50,102,000 | 60,985,000 | 39,186,000 | — | 54,180,000 | 60,932,000 | 42,242,000 | 45,400,000 | 65,253,000 | 51,506,000 | 33,908,000 | 33,036,000 | 58,620,000 | 37,445,000 | 32,075,000 | 30,677,000 | 39,946,000 |
| Total current liabilities | US$ in thousands | 176,392,000 | 131,624,000 | 123,822,000 | 133,973,000 | 145,308,000 | 124,963,000 | 120,075,000 | 137,286,000 | 153,982,000 | 129,873,000 | 127,508,000 | 147,574,000 | 125,481,000 | 107,754,000 | 106,385,000 | 132,507,000 | 105,392,000 | 95,318,000 | 96,094,000 | 102,161,000 |
| Quick ratio | 0.75 | 0.80 | 0.87 | 0.92 | 0.84 | 0.81 | 0.47 | 0.77 | 0.71 | 0.70 | 0.76 | 0.88 | 0.91 | 0.89 | 0.97 | 1.02 | 1.22 | 1.31 | 1.30 | 1.44 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($29,943,000K
+ $35,228,000K
+ $66,243,000K)
÷ $176,392,000K
= 0.75
The quick ratio of Apple Inc has shown fluctuations over the past several quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio of 1 or higher is usually considered healthy, indicating that the company can cover its short-term liabilities without having to rely on selling inventory.
Looking at the data provided, the quick ratio ranges from 0.47 to 1.44 in the last 20 quarters. The lowest quick ratio of 0.47 was reported in March 2023, which may raise concerns about the company's liquidity position at that time. It improved gradually and reached its peak of 1.44 in March 2020.
In recent quarters, the quick ratio has been mostly above 1, indicating that Apple Inc has had more than enough liquid assets to cover its short-term obligations. The ratio dipped slightly in the most recent quarter, September 2024, to 0.75, which indicates a decrease in liquidity compared to the previous quarter. However, a quick ratio of 0.75 is still above the threshold of 1, suggesting that Apple Inc remains in a strong liquidity position overall.
Overall, Apple Inc's quick ratio has shown variability but has generally remained at healthy levels, indicating the company's ability to meet its short-term obligations and manage its liquidity effectively. Further monitoring of the quick ratio over several periods can provide insights into the company's short-term liquidity management.
Peer comparison
Sep 30, 2024