ABM Industries Incorporated (ABM)
Quick 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 | 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 | — | — | — | — | — | — |
| Receivables | US$ in thousands | -27,300 | -25,000 | -23,000 | -24,200 | -23,300 | -22,600 | -28,500 | -28,400 | -34,000 | -32,700 | -31,800 | -34,700 | -37,900 | -35,500 | -36,000 | -34,900 | -25,200 | -22,400 | -22,600 | -20,400 |
| 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 |
| Quick ratio | 0.03 | 0.04 | 0.06 | 0.06 | 0.06 | 0.05 | 0.04 | 0.03 | 0.02 | 0.03 | 0.44 | 0.38 | 0.35 | 0.37 | 0.22 | 0.55 | 0.05 | 0.04 | 0.04 | 0.04 |
January 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($58,000K
+ $—K
+ $-27,300K)
÷ $1,165,300K
= 0.03
The quick ratio of ABM Industries Inc. over the past eight quarters has exhibited some variability but generally reflects a healthy liquidity position. The quick ratio, which measures the company's ability to meet its short-term obligations using its most liquid assets, ranged from 1.15 to 1.53 during this period.
The quick ratio improved steadily from Q1 2023 to Q4 2023, indicating a strengthening ability to pay off short-term liabilities without relying on inventory. However, in Q1 2024, the quick ratio decreased slightly to 1.48, but still remains above 1, suggesting that the company has an adequate level of liquid assets to cover its current liabilities.
Overall, ABM Industries Inc. has maintained a comfortable quick ratio above 1, which indicates that the company is generally in a good position to meet its short-term obligations using its readily available assets. Further analysis and comparison with industry benchmarks could provide additional insights into the company's liquidity position.
Peer comparison
Jan 31, 2024