Air Products and Chemicals Inc (APD)

Current 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
Total current assets	US$ in thousands	5,649,500	5,200,500	5,354,000	5,721,600	6,321,100	6,282,900	6,367,300	6,249,400	6,483,500	8,376,300	8,376,800	8,766,600	8,809,800	8,684,900	9,006,500	4,688,500	4,719,700	4,618,300	4,915,200	4,895,200
Total current liabilities	US$ in thousands	3,119,200	3,895,800	3,947,700	2,797,900	3,276,900	3,465,800	3,406,900	3,205,100	2,630,100	2,799,100	2,697,100	3,017,400	2,985,900	2,416,700	2,591,000	1,806,900	1,819,000	1,820,900	2,155,200	2,073,000
Current ratio		1.81	1.33	1.36	2.04	1.93	1.81	1.87	1.95	2.47	2.99	3.11	2.91	2.95	3.59	3.48	2.59	2.59	2.54	2.28	2.36

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $5,649,500K ÷ $3,119,200K
= 1.81

The current ratio of Air Products & Chemicals Inc. has fluctuated over the past eight quarters. In Q1 2024, the current ratio was 1.81, indicating that the company had $1.81 in current assets for every $1 in current liabilities. This ratio was higher compared to the previous quarter (Q4 2023) when it was 1.33, suggesting an improvement in the company's liquidity position.

Looking further back, the current ratio in Q1 2023 and Q4 2022 was also above 1.5, demonstrating a relatively healthy liquidity position during those periods. However, there were fluctuations in the current ratio in Q3 2023, Q2 2023, and Q3 2022, with ratios around 1.36, 2.04, and 1.87, respectively.

The current ratio of 2.04 in Q2 2023 was notably high, indicating that the company had a strong ability to cover its short-term obligations with current assets during that quarter. Overall, the current ratio of Air Products & Chemicals Inc. has shown some variability, but generally, it has remained above 1.5 in most quarters, suggesting a solid liquidity position to meet its short-term financial obligations.