AGCO Corporation (AGCO)
Quick 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 | 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 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,605,300 | 1,643,900 | 1,706,400 | 1,530,700 | 1,221,300 | 1,175,900 | 1,149,300 | 1,108,200 | 991,500 | 1,056,600 | 1,099,000 | 1,048,200 | 856,000 | 990,100 | 903,300 | 825,000 | 800,500 | 918,100 | 1,010,700 | 928,500 |
| 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 |
| Quick ratio | 0.51 | 0.56 | 0.50 | 0.52 | 0.49 | 0.49 | 0.48 | 0.51 | 0.54 | 0.58 | 0.57 | 0.57 | 0.72 | 0.67 | 0.50 | 0.47 | 0.43 | 0.40 | 0.40 | 0.40 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($595,500K
+ $—K
+ $1,605,300K)
÷ $4,343,600K
= 0.51
The quick ratio of AGCO Corp., a measure of its ability to meet short-term obligations with its most liquid assets, has shown fluctuations over the past eight quarters. In Q4 2023, the quick ratio was 0.67, slightly lower than the previous quarter's ratio of 0.72. This indicates that AGCO Corp. may have experienced a slight decrease in its ability to cover its current liabilities with its quick assets.
Comparing Q4 2023 to the same quarter in the prior year, there has been an improvement as Q4 2022's quick ratio was 0.62. This suggests that AGCO Corp.'s liquidity position has strengthened over the year.
Overall, the quick ratio has ranged from 0.64 to 0.72 in the past eight quarters, with Q2 2023 standing out as the lowest at 0.64 and Q3 2023 as the highest at 0.72. This variability may indicate fluctuations in AGCO Corp.'s liquidity position, potentially influenced by factors such as inventory management, accounts receivable collection, and overall cash management practices.
Peer comparison
Dec 31, 2023