Air Lease Corporation (AL)
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 | 460,870 | 512,084 | 576,730 | 690,408 | 766,418 | 1,101,840 | 1,012,780 | 1,490,760 | 1,086,500 | 1,873,840 | 1,210,050 | 1,328,000 | 1,734,160 | 1,238,570 | 926,435 | 732,719 | 317,488 | 291,772 | 264,058 | 285,715 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,308,000 | 1,542,370 | 1,568,920 | 834,684 | 844,553 | 754,250 | 775,653 | 679,922 | 750,573 | 681,247 | 668,554 | 583,778 | 635,388 | 541,671 | 629,660 | 626,030 | 660,189 | 555,079 | 577,678 | 483,483 |
| Cash ratio | 0.35 | 0.33 | 0.37 | 0.83 | 0.91 | 1.46 | 1.31 | 2.19 | 1.45 | 2.75 | 1.81 | 2.27 | 2.73 | 2.29 | 1.47 | 1.17 | 0.48 | 0.53 | 0.46 | 0.59 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($460,870K
+ $—K)
÷ $1,308,000K
= 0.35
The cash ratio of Air Lease Corporation has displayed fluctuations over the past few quarters. The cash ratio indicates the company's ability to cover its short-term liabilities using its available cash and cash equivalents.
The cash ratio has generally been above 1 in recent periods, indicating that Air Lease Corporation has maintained a healthy level of cash to meet its short-term obligations. However, there have been some fluctuations in the ratio, indicating potential variability in the company's liquidity position.
Of particular note is the significant decrease in the cash ratio from 2.19 in March 2022 to 0.83 in March 2023, a decline that may raise questions about the company's liquidity management during that period.
It is important for stakeholders to closely monitor the cash ratio of Air Lease Corporation to ensure that the company continues to maintain a sufficient level of cash to meet its short-term obligations and navigate any potential liquidity challenges effectively.
Peer comparison
Dec 31, 2023