ABM Industries Incorporated (ABM)
Cash ratio
| Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 58,000 | 69,500 | 97,700 | 71,200 | 87,900 | 73,000 | 63,900 | 48,900 | 46,600 | 62,800 | 505,400 | 435,700 | 378,300 | 394,200 | 229,400 | 555,900 | 69,800 | 58,500 | 60,500 | 53,700 |
| Short-term investments | US$ in thousands | — | — | — | 14,400 | 15,600 | 14,500 | 14,800 | 15,800 | 15,300 | 11,800 | 11,000 | — | 11,000 | 11,000 | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,165,300 | 1,217,900 | 1,176,500 | 1,109,500 | 1,276,300 | 1,353,200 | 1,273,700 | 1,280,700 | 1,267,800 | 1,285,800 | 1,105,500 | 1,064,400 | 1,017,800 | 986,900 | 877,400 | 941,200 | 871,100 | 902,400 | 877,400 | 851,100 |
| Cash ratio | 0.05 | 0.06 | 0.08 | 0.08 | 0.08 | 0.06 | 0.06 | 0.05 | 0.05 | 0.06 | 0.47 | 0.41 | 0.38 | 0.41 | 0.26 | 0.59 | 0.08 | 0.06 | 0.07 | 0.06 |
January 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($58,000K
+ $—K)
÷ $1,165,300K
= 0.05
The cash ratio of ABM Industries Inc. has fluctuated over the past few quarters. In Q1 2024, the cash ratio stood at 0.19, lower than the previous quarter but higher than the ratio in Q4 2022. This indicates that the company had $0.19 in cash for every $1 of current liabilities, suggesting a moderate liquidity position.
The cash ratio was lowest in Q4 2022 at 0.15, and then showed an upward trend in subsequent quarters, reaching its peak in Q3 2023 at 0.21 before slightly decreasing in Q4 2023 and Q1 2024. Overall, the cash ratio has been relatively stable between 0.15 and 0.22 during the analyzed period, reflecting ABM Industries Inc.'s ability to meet its short-term obligations using cash assets.
It is important to consider industry benchmarks and the company's specific circumstances to fully assess the adequacy of its cash reserves for managing liquidity risks.
Peer comparison
Jan 31, 2024