Api Group Corp (APG)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,841,000 | 1,897,000 | 1,897,000 | 1,823,000 | 1,714,000 | 1,831,000 | 1,810,000 | 1,827,000 | 1,711,000 | 1,772,000 | 1,760,000 | 1,712,000 | 1,636,000 | 984,000 | 947,000 | 848,000 | 747,000 | 781,000 | 906,000 | 891,000 |
| 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 |
| Quick ratio | 1.31 | 1.27 | 1.34 | 1.29 | 1.19 | 1.28 | 1.20 | 1.33 | 1.34 | 1.24 | 1.41 | 1.41 | 1.43 | 2.51 | 2.62 | 2.10 | 1.91 | 1.54 | 1.65 | 1.54 |
March 31, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($460,000K
+ $—K
+ $1,841,000K)
÷ $1,762,000K
= 1.31
The quick ratio of Api Group Corp has exhibited notable fluctuations over the analyzed period from June 30, 2020, to March 31, 2025. During the initial period (mid-2020), the ratio stood at approximately 1.54 in June 2020, increasing slightly to 1.65 by September 2020, and returning to 1.54 in December 2020.
From early 2021, a consistent upward trend can be observed, with the ratio rising sharply from 1.91 in March 2021 to a peak of 2.62 by September 2021. This suggests an improved liquidity position, indicating that the company was able to maintain a higher level of liquid assets relative to its current liabilities during this period. The ratio remained relatively high through December 2021 at 2.51.
Subsequently, a decline in the quick ratio begins, with notable drops to 1.43 in March 2022 and stabilizing around 1.41 through September 2022. The ratio continued to decrease gradually, reaching approximately 1.24 at the end of 2022. The downward trend persisted into 2023, with the ratio registering at 1.34 in March and slightly decreasing to 1.20 by September 2023.
In the most recent periods, the quick ratio shows slight recovery, with values of approximately 1.28 at the end of 2023, and edging upward to 1.29 in June 2024, followed by minor fluctuations at 1.34 in September 2024 and 1.27 in December 2024. As of March 2025, the ratio stands at 1.31.
Overall, Api Group Corp’s quick ratio indicates a consistent ability to meet short-term obligations with liquid assets, generally exceeding 1.2 throughout most of the period, which is indicative of a stable liquidity position. However, the observed decline from late 2021 onward suggests a potential reduction in liquidity buffers, warranting further analysis into the company's liquid asset management and current liabilities structure. The ratios remaining above 1 generally imply adequate liquidity, but the downward trend may reflect changes in working capital or asset composition over time.
Peer comparison
Mar 31, 2025