Api Group Corp (APG)
Cash ratio
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 460,000 | 499,000 | 487,000 | 324,000 | 247,000 | 479,000 | 461,000 | 368,000 | 363,000 | 605,000 | 395,000 | 330,000 | 315,000 | 1,188,000 | 1,128,000 | 686,000 | 745,000 | 515,000 | 467,000 | 377,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,762,000 | 1,885,000 | 1,781,000 | 1,662,000 | 1,654,000 | 1,807,000 | 1,899,000 | 1,651,000 | 1,549,000 | 1,921,000 | 1,523,000 | 1,453,000 | 1,367,000 | 867,000 | 792,000 | 730,000 | 781,000 | 841,000 | 834,000 | 821,000 |
| Cash ratio | 0.26 | 0.26 | 0.27 | 0.19 | 0.15 | 0.27 | 0.24 | 0.22 | 0.23 | 0.31 | 0.26 | 0.23 | 0.23 | 1.37 | 1.42 | 0.94 | 0.95 | 0.61 | 0.56 | 0.46 |
March 31, 2025 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($460,000K
+ $—K)
÷ $1,762,000K
= 0.26
The cash ratio of Api Group Corp exhibits notable fluctuations over the analyzed period from June 2020 to March 2025. Initially, the ratio demonstrated a gradual upward trend, rising from 0.46 in June 2020 to a peak of 1.42 in September 2021. This increase indicates a relative strengthening in the company’s liquidity position, with a greater proportion of liquid assets relative to its current liabilities during this period.
Subsequently, the ratio experienced a sharp decline to 0.23 by March 2022, representing a substantial reduction in cash holdings in relation to current liabilities. This lower ratio persisted through mid-2022 and into late 2023, fluctuating within a narrow range around 0.15 to 0.27, suggesting a period of reduced liquidity or strategic reallocation of assets, possibly reflecting operational adjustments or shifts in cash management policy.
Throughout the latter part of 2023 and into early 2024, the cash ratio showed minor improvements, reaching approximately 0.27 in December 2023, before declining again to 0.15 in March 2024. The subsequent quarters displayed a slight upward trend, with the ratio increasing to 0.27 by September 2024 and maintaining a similar level into December 2024 and March 2025.
Overall, the pattern indicates that Api Group Corp experienced a significant short-term liquidity surplus during 2020 and mid-2021, followed by a stabilization at relatively lower levels from 2022 onward. The company’s cash ratio generally remains below 0.30 in recent years, signaling a conservative liquidity position that depends largely on cash holdings to cover current liabilities, with periods of both strengthening and weakening in liquidity.
Peer comparison
Mar 31, 2025