Ball Corporation (BALL)
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 | 695,000 | 1,335,000 | 955,000 | 572,000 | 548,000 | 473,000 | 480,000 | 437,000 | 563,000 | 1,446,000 | 571,000 | 461,000 | 1,366,000 | 771,000 | 643,000 | 801,000 | 1,798,000 | 483,000 | 764,000 | 603,000 |
| Short-term investments | US$ in thousands | — | 23,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 2,334,000 | 2,059,000 | 2,291,000 | 2,561,000 | 2,594,000 | 2,877,000 | 3,139,000 | 3,128,000 | 2,560,000 | 2,489,000 | 2,620,000 | 2,115,000 | 1,738,000 | 1,772,000 | 1,810,000 | 1,862,000 | 1,631,000 | 1,957,000 | 1,956,000 | 1,885,000 |
| Total current liabilities | US$ in thousands | 6,185,000 | 6,715,000 | 6,926,000 | 7,220,000 | 7,008,000 | 6,189,000 | 6,483,000 | 6,486,000 | 5,953,000 | 6,131,000 | 5,917,000 | 4,984,000 | 4,444,000 | 3,764,000 | 4,126,000 | 4,003,000 | 5,577,000 | 3,773,000 | 4,134,000 | 4,035,000 |
| Quick ratio | 0.49 | 0.51 | 0.47 | 0.43 | 0.45 | 0.54 | 0.56 | 0.55 | 0.52 | 0.64 | 0.54 | 0.52 | 0.70 | 0.68 | 0.59 | 0.67 | 0.61 | 0.65 | 0.66 | 0.62 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($695,000K
+ $—K
+ $2,334,000K)
÷ $6,185,000K
= 0.49
The quick ratio of Ball Corp. has shown some fluctuation over the past eight quarters, ranging from a low of 0.46 in Q1 2023 to a high of 0.62 in Q2 2022. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.
A quick ratio below 1 indicates that the company may have difficulty meeting its short-term obligations with its current assets. Ball Corp.'s quick ratio has generally been below 1, which may suggest a potential liquidity risk. However, it's important to note that the quick ratio should be analyzed in conjunction with other liquidity ratios and considerations specific to the company and its industry.
The declining trend in the quick ratio from Q2 2022 to Q1 2023 indicates a potential weakening of the company's liquidity position during that period. Investors and stakeholders should monitor this ratio closely to assess Ball Corp.'s ability to cover its short-term financial obligations.
Peer comparison
Dec 31, 2023