Asbury Automotive Group Inc (ABG)
Cash ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 69,400 | 45,700 | 235,300 | 178,900 | 1,400 |
| Short-term investments | US$ in thousands | 14,400 | 6,200 | 5,400 | 11,000 | 1,100 |
| Total current liabilities | US$ in thousands | 2,836,300 | 2,875,700 | 1,033,400 | 1,598,000 | 1,223,400 |
| Cash ratio | 0.03 | 0.02 | 0.23 | 0.12 | 0.00 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($69,400K
+ $14,400K)
÷ $2,836,300K
= 0.03
The cash ratio of Asbury Automotive Group Inc has fluctuated over the years based on the provided data. As of December 31, 2020, the company had a cash ratio of 0.00, indicating that it had no cash on hand to cover its current liabilities. Subsequently, there was a significant improvement in the cash ratio by December 31, 2021, reaching 0.12, suggesting improved liquidity as the company was able to cover 12% of its current liabilities with its cash reserves.
By December 31, 2022, the cash ratio further increased to 0.23, indicating a stronger financial position with the ability to cover 23% of its current liabilities using its cash holdings. However, there was a notable decrease in the cash ratio by December 31, 2023, dropping to 0.02, signifying a decrease in liquidity compared to the previous year.
As of December 31, 2024, the cash ratio slightly improved to 0.03, still remaining relatively low compared to the levels seen in the previous years. Overall, the trend in Asbury Automotive Group Inc's cash ratio demonstrates fluctuations in its liquidity position over the years, with varying levels of ability to cover its short-term obligations with available cash.
Peer comparison
Dec 31, 2024