AptarGroup Inc (ATR)
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 | 223,643 | 151,573 | 120,983 | 126,810 | 141,732 | 124,812 | 240,474 | 355,629 | 122,925 | 114,557 | 291,495 | 254,852 | 300,137 | 226,546 | 247,656 | 410,840 | 241,970 | 270,577 | 302,950 | 217,377 |
| Short-term investments | US$ in thousands | — | — | 21 | — | 0 | 0 | 0 | 717 | 740 | 319 | 0 | 0 | 243 | 46,995 | — | — | 0 | — | — | — |
| Receivables | US$ in thousands | 677,800 | 717,484 | 718,619 | 695,118 | 677,000 | 690,818 | 703,000 | 694,373 | 671,000 | 662,112 | 635,847 | 621,093 | 567,000 | 593,000 | 575,655 | 602,027 | 558,428 | 552,289 | 599,597 | 599,561 |
| Total current liabilities | US$ in thousands | 1,251,310 | 1,231,640 | 1,029,780 | 1,041,160 | 917,176 | 896,652 | 822,032 | 861,493 | 982,492 | 908,368 | 782,566 | 755,929 | 780,329 | 787,121 | 829,767 | 891,298 | 683,275 | 648,837 | 670,934 | 623,916 |
| Quick ratio | 0.72 | 0.71 | 0.82 | 0.79 | 0.89 | 0.91 | 1.15 | 1.22 | 0.81 | 0.86 | 1.19 | 1.16 | 1.11 | 1.10 | 0.99 | 1.14 | 1.17 | 1.27 | 1.35 | 1.31 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($223,643K
+ $—K
+ $677,800K)
÷ $1,251,310K
= 0.72
The quick ratio for Aptargroup Inc. has shown a declining trend over the past four quarters, decreasing from 1.37 in Q1 2022 to 0.83 in Q4 2023. This indicates a potential weakening liquidity position, as the company may have fewer liquid assets readily available to cover its current liabilities.
A quick ratio below 1.0 suggests that the company may face challenges in meeting its short-term obligations with its current liquid assets. The downward trend in the quick ratio could be a cause for concern for investors and creditors, as it may indicate a potential liquidity risk for the company.
It is essential for Aptargroup Inc. to monitor and manage its liquidity position effectively to ensure its ability to meet its short-term financial obligations. Management may need to consider strategies to improve the company's quick ratio, such as optimizing inventory management, accelerating accounts receivable collections, or securing additional sources of liquidity.
Peer comparison
Dec 31, 2023