Asbury Automotive Group Inc (ABG)
Cash 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 and cash equivalents | US$ in thousands | 42,200 | 41,600 | 77,500 | 296,800 | 231,900 | 138,500 | 97,400 | 281,900 | 176,400 | 330,600 | 102,300 | 27,800 | 1,400 | 4,100 | 613,200 | 388,600 | 3,500 | 1,800 | 9,600 | 10,900 |
| Short-term investments | US$ in thousands | 6,200 | 7,400 | 10,300 | 5,500 | 5,400 | 7,900 | 10,800 | 12,500 | 11,000 | — | — | — | 0 | — | — | — | 11,000 | — | — | — |
| Total current liabilities | US$ in thousands | 2,875,700 | 994,500 | 1,049,600 | 1,068,300 | 1,033,400 | 1,158,700 | 1,156,900 | 1,584,800 | 1,597,900 | 659,200 | 759,300 | 1,048,700 | 1,223,400 | 1,212,700 | 893,200 | 1,181,900 | 1,247,000 | 1,235,100 | 1,272,600 | 1,416,800 |
| Cash ratio | 0.02 | 0.05 | 0.08 | 0.28 | 0.23 | 0.13 | 0.09 | 0.19 | 0.12 | 0.50 | 0.13 | 0.03 | 0.00 | 0.00 | 0.69 | 0.33 | 0.01 | 0.00 | 0.01 | 0.01 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($42,200K
+ $6,200K)
÷ $2,875,700K
= 0.02
The cash ratio for Asbury Automotive Group Inc fluctuated over the past eight quarters, indicating varying levels of liquidity and ability to cover short-term liabilities with cash on hand.
In Q1 2023, the company's cash ratio was the highest at 0.71, suggesting a strong ability to meet short-term obligations with available cash. This was followed by Q4 2022 and Q3 2022, where the cash ratio was 0.73 and 0.52, respectively.
However, the cash ratio dropped significantly in Q2 2022 to 0.50 and continued to decrease in Q3 2023 to 0.25, which implies a lower ability to cover short-term liabilities with cash during those periods.
Overall, Asbury Automotive Group Inc's cash ratio has shown some volatility, with fluctuations between 0.25 and 0.73 over the past eight quarters. It is important for the company to closely monitor its cash levels and liquidity position to ensure it can meet its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023