Air Lease Corporation (AL)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | 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 |
| Quick 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
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($460,870K
+ $—K
+ $—K)
÷ $1,308,000K
= 0.35
The quick ratio of Air Lease Corporation has shown significant fluctuations over the period analyzed. At the end of December 2023, the quick ratio was 0.35, indicating that the company had $0.35 in liquid assets available to cover each dollar of current liabilities. This ratio decreased slightly from the previous quarter but remained relatively low compared to historical levels.
The company experienced a notable decrease in the quick ratio from March 2023 to June 2023, dropping from 0.83 to 0.37. However, the ratio improved significantly in the subsequent quarters, reaching a peak of 2.19 at the end of March 2022. This suggests that Air Lease Corporation had ample liquid assets to meet its short-term obligations during that period.
The quick ratio then declined gradually throughout 2022 and into 2023, before dropping to 0.35 at the end of December 2023. The decreasing trend in the quick ratio could indicate potential liquidity challenges for the company in meeting its short-term liabilities.
Overall, the fluctuations in Air Lease Corporation's quick ratio suggest varying levels of liquidity risk over the periods analyzed, requiring further investigation into the company's cash management and ability to meet its short-term obligations.
Peer comparison
Dec 31, 2023