Aecom Technology Corporation (ACM)
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 | 1,192,260 | 1,260,210 | 1,257,730 | 1,073,520 | 1,160,350 | 1,172,210 | 1,010,720 | 965,070 | 1,082,390 | 1,229,200 | 1,049,030 | 934,906 | 1,044,750 | 1,708,330 | 1,331,270 | 1,135,060 | 725,436 | 885,639 | 793,567 | 666,105 |
| Short-term investments | US$ in thousands | — | — | 17,900 | 14,300 | 14,600 | 9,400 | — | — | — | — | 331,994 | 326,958 | 254,616 | 229,312 | — | — | — | 194,715 | 391,520 | 160,773 |
| Total current liabilities | US$ in thousands | 6,002,490 | 5,850,280 | 5,714,780 | 5,537,260 | 5,557,720 | 5,404,170 | 5,464,940 | 5,283,480 | 5,513,460 | 5,521,720 | 5,680,030 | 5,601,900 | 6,001,600 | 6,090,450 | 5,751,670 | 5,987,540 | 6,461,460 | 6,461,750 | 5,940,700 | 5,890,190 |
| Cash ratio | 0.20 | 0.22 | 0.22 | 0.20 | 0.21 | 0.22 | 0.18 | 0.18 | 0.20 | 0.22 | 0.24 | 0.23 | 0.22 | 0.32 | 0.23 | 0.19 | 0.11 | 0.17 | 0.20 | 0.14 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,192,260K
+ $—K)
÷ $6,002,490K
= 0.20
The cash ratio of AECOM has been relatively stable over the past eight quarters, ranging from 0.59 to 0.63. The cash ratio measures a company's ability to cover its short-term liabilities with its available cash and cash equivalents. A ratio above 1 indicates that a company can cover all its current liabilities with its cash on hand.
In AECOM's case, the cash ratio has been consistently below 1, indicating that the company may not have enough cash to cover its short-term obligations. However, a cash ratio above 0.5 is generally considered acceptable, as it signifies that at least half of the current liabilities can be covered with the available cash.
Overall, AECOM's cash ratio suggests that while the company may not have a significant excess of cash, it has maintained a reasonable level of liquidity to meet its short-term financial obligations.
Peer comparison
Dec 31, 2023