AGCO Corporation (AGCO)
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 | 595,500 | 680,700 | 463,500 | 558,700 | 789,500 | 607,000 | 580,600 | 655,700 | 889,100 | 537,000 | 500,200 | 453,700 | 1,119,100 | 511,000 | 404,400 | 386,700 | 432,800 | 282,000 | 279,900 | 292,800 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 480,000 | 475,000 | 444,000 | 442,000 | 411,000 | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 4,343,600 | 4,119,100 | 4,302,500 | 3,984,300 | 4,088,000 | 3,617,900 | 3,630,500 | 3,435,200 | 3,454,600 | 3,549,200 | 3,619,300 | 3,414,600 | 3,362,800 | 2,857,500 | 2,607,700 | 2,562,100 | 2,884,500 | 3,027,700 | 3,228,900 | 3,054,700 |
| Cash ratio | 0.14 | 0.17 | 0.11 | 0.14 | 0.19 | 0.17 | 0.16 | 0.19 | 0.26 | 0.29 | 0.27 | 0.26 | 0.46 | 0.32 | 0.16 | 0.15 | 0.15 | 0.09 | 0.09 | 0.10 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($595,500K
+ $—K)
÷ $4,343,600K
= 0.14
The cash ratio of AGCO Corp. has exhibited some fluctuation over the past eight quarters. The cash ratio measures a company's ability to cover its current liabilities with its readily available cash and cash equivalents. AGCO Corp.'s cash ratio ranged between 0.28 and 0.37 during this period.
In Q1 and Q3 of 2023, the cash ratio was at its lowest at 0.28 and 0.29, respectively. This indicates that AGCO Corp. may have had relatively less cash on hand to cover its short-term obligations during these quarters. Conversely, in Q2 of 2022, the company's cash ratio peaked at 0.37, suggesting a stronger liquidity position at that time.
Overall, AGCO Corp.'s cash ratio has remained relatively stable between 0.28 and 0.37, which may indicate a consistent level of liquidity management by the company. However, investors and analysts may further investigate the reasons behind these fluctuations to assess the company's liquidity risk and financial health accurately.
Peer comparison
Dec 31, 2023