AbbVie Inc (ABBV)
Quick ratio
| 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 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 12,814,000 | 13,287,000 | 8,759,000 | 6,711,000 | 9,201,000 | 11,832,000 | 8,521,000 | 6,098,000 | 9,746,000 | 12,182,000 | 8,546,000 | 9,755,000 | 8,449,000 | 7,890,000 | 6,017,000 | 41,142,000 | 39,924,000 | 10,648,000 | 5,172,000 | 4,897,000 |
| Short-term investments | US$ in thousands | 2,000 | 3,000 | 7,000 | 11,000 | 28,000 | 47,000 | 1,440,000 | 1,474,000 | 84,000 | 67,000 | 54,000 | 22,000 | 30,000 | 60,000 | 23,000 | — | 0 | 0 | 244,000 | 331,000 |
| Receivables | US$ in thousands | 11,155,000 | 11,412,000 | 11,491,000 | 11,473,000 | 11,254,000 | 10,743,000 | 11,237,000 | 10,733,000 | 9,977,000 | 9,281,000 | 9,914,000 | 9,588,000 | 8,822,000 | 8,416,000 | 8,354,000 | 6,362,000 | 5,428,000 | 5,529,000 | 5,482,000 | 5,680,000 |
| Total current liabilities | US$ in thousands | 37,841,000 | 34,773,000 | 32,239,000 | 27,590,000 | 29,538,000 | 32,712,000 | 34,473,000 | 32,521,000 | 35,194,000 | 28,533,000 | 28,684,000 | 31,951,000 | 28,661,000 | 24,181,000 | 24,646,000 | 16,471,000 | 15,585,000 | 17,493,000 | 16,941,000 | 13,904,000 |
| Quick ratio | 0.63 | 0.71 | 0.63 | 0.66 | 0.69 | 0.69 | 0.61 | 0.56 | 0.56 | 0.75 | 0.65 | 0.61 | 0.60 | 0.68 | 0.58 | 2.88 | 2.91 | 0.92 | 0.64 | 0.78 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($12,814,000K
+ $2,000K
+ $11,155,000K)
÷ $37,841,000K
= 0.63
The quick ratio of Abbvie Inc has shown fluctuations over the past eight quarters, ranging from 0.71 to 0.84. The quick ratio, which measures a company's ability to meet its short-term obligations with its most liquid assets, has been below 1 in all quarters analyzed. A quick ratio below 1 indicates potential liquidity concerns as the company may not have enough liquid assets to cover immediate liabilities.
The trend over the quarters indicates some variability but generally hovers around the range of 0.75 to 0.84, with slight improvements shown in Q3 and Q1 of 2023. However, a quick ratio of 0.76 in Q4 2023 suggests a slight decrease in liquidity compared to the previous quarter.
Overall, Abbvie Inc may need to closely monitor its liquidity position and consider strategies to improve its quick ratio to ensure it can meet its short-term financial obligations efficiently.
Peer comparison
Dec 31, 2023