Aptiv PLC (APTV)
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 | 1,640,000 | 1,808,000 | 1,302,000 | 1,100,000 | 1,531,000 | 4,850,000 | 4,670,000 | 4,877,000 | 3,139,000 | 2,741,000 | 2,978,000 | 2,830,000 | 2,821,000 | 2,122,000 | 1,885,000 | 2,055,000 | 412,000 | 341,000 | 365,000 | 321,000 |
| Short-term investments | US$ in thousands | 14,000 | -60,000 | -60,000 | — | 17,000 | 80,000 | — | — | 66,000 | 83,000 | 1,908,000 | — | 0 | 0 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 3,815,000 | 3,864,000 | 3,979,000 | 3,793,000 | 3,648,000 | 3,606,000 | 3,304,000 | 3,313,000 | 3,032,000 | 2,954,000 | 2,928,000 | 3,048,000 | 3,016,000 | 2,920,000 | 2,091,000 | 2,567,000 | 2,829,000 | 2,935,000 | 2,982,000 | 3,008,000 |
| Total current liabilities | US$ in thousands | 4,808,000 | 4,696,000 | 4,589,000 | 4,508,000 | 4,865,000 | 4,129,000 | 4,019,000 | 4,146,000 | 4,207,000 | 3,834,000 | 3,905,000 | 3,962,000 | 4,046,000 | 3,579,000 | 2,859,000 | 3,655,000 | 4,054,000 | 3,875,000 | 3,991,000 | 4,014,000 |
| Quick ratio | 1.14 | 1.20 | 1.14 | 1.09 | 1.07 | 2.07 | 1.98 | 1.98 | 1.48 | 1.51 | 2.00 | 1.48 | 1.44 | 1.41 | 1.39 | 1.26 | 0.80 | 0.85 | 0.84 | 0.83 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,640,000K
+ $14,000K
+ $3,815,000K)
÷ $4,808,000K
= 1.14
The quick ratio of Aptiv PLC has exhibited a fluctuating trend over the last eight quarters, ranging from a low of 1.12 in Q4 2022 to a high of 2.10 in Q3 2022. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1 indicates that Aptiv PLC has an adequate level of liquid assets to cover its current liabilities. A ratio below 1 would suggest potential liquidity issues.
The quick ratio has generally remained above 1 in the recent quarters, indicating a strong ability to meet short-term obligations. However, the ratio dipped to its lowest point of 1.12 in Q4 2022, which may have raised some concerns about liquidity management at that time. The subsequent improvement in Q1 and Q2 of 2023, reaching 1.16 and 1.24 respectively, suggests that Aptiv PLC has taken steps to strengthen its liquidity position.
Overall, while the quick ratio of Aptiv PLC has shown variability in recent quarters, the trend has generally been positive in maintaining a healthy level of liquidity to meet short-term obligations. Further monitoring of the quick ratio is recommended to assess ongoing liquidity management and financial health.
Peer comparison
Dec 31, 2023