Axalta Coating Systems Ltd (AXTA)
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 | 699,800 | 605,800 | 517,600 | 512,100 | 645,200 | 517,400 | 500,200 | 576,200 | 840,600 | 627,700 | 1,230,900 | 1,266,900 | 1,360,900 | 1,341,300 | 1,123,600 | 657,200 | 1,017,500 | 767,200 | 577,300 | 501,100 |
| Short-term investments | US$ in thousands | — | 800 | 1,200 | 500 | 2,300 | 7,100 | 4,500 | — | — | — | — | — | 1,700 | — | — | — | 1,600 | — | — | — |
| Receivables | US$ in thousands | 1,259,900 | 1,301,100 | 1,271,100 | 1,169,600 | 1,067,400 | 1,106,900 | 1,100,600 | 1,029,800 | 937,500 | 1,050,100 | 1,035,700 | 902,300 | 869,800 | 824,200 | 664,000 | 777,600 | 830,100 | 935,700 | 980,600 | 920,500 |
| Total current liabilities | US$ in thousands | 1,427,500 | 1,358,300 | 1,329,200 | 1,279,700 | 1,384,700 | 1,349,700 | 1,333,400 | 1,345,000 | 1,334,900 | 1,276,600 | 1,216,200 | 1,190,100 | 1,180,900 | 1,065,200 | 860,900 | 1,007,200 | 1,072,900 | 1,034,900 | 996,800 | 1,021,500 |
| Quick ratio | 1.37 | 1.40 | 1.35 | 1.31 | 1.24 | 1.21 | 1.20 | 1.19 | 1.33 | 1.31 | 1.86 | 1.82 | 1.89 | 2.03 | 2.08 | 1.42 | 1.72 | 1.65 | 1.56 | 1.39 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($699,800K
+ $—K
+ $1,259,900K)
÷ $1,427,500K
= 1.37
The quick ratio for Axalta Coating Systems Ltd has remained consistently above 1.0 throughout the past eight quarters, indicating that the company has an ample amount of liquid assets to cover its short-term liabilities. The trend also shows slight variations within the range of 1.29 to 1.50, suggesting stability in the company's ability to quickly meet its obligations using its most liquid assets. Overall, the quick ratio performance reflects a healthy liquidity position for Axalta Coating Systems Ltd, providing a cushion to handle any unexpected financial challenges.
Peer comparison
Dec 31, 2023