Becton Dickinson and Company (BDX)
Cash 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 and cash equivalents | US$ in thousands | 1,180,000 | 1,416,000 | 923,000 | 1,981,000 | 612,000 | 1,006,000 | 2,558,000 | 3,147,000 | 1,903,000 | 2,283,000 | 3,153,000 | 3,734,000 | 3,248,000 | 2,825,000 | 2,882,000 | 2,351,000 | 560,000 | 536,000 | 523,000 | 686,000 |
| Short-term investments | US$ in thousands | 2,000 | 8,000 | 8,000 | 6,000 | 0 | 8,000 | 14,000 | 15,000 | 8,000 | 12,000 | 24,000 | 24,000 | 17,000 | 20,000 | 22,000 | 6,000 | 8,000 | 30,000 | 12,000 | 10,000 |
| Total current liabilities | US$ in thousands | 7,540,000 | 6,641,000 | 6,878,000 | 7,304,000 | 7,625,000 | 7,811,000 | 7,080,000 | 6,657,000 | 6,735,000 | 6,626,000 | 7,749,000 | 5,376,000 | 7,021,000 | 5,836,000 | 6,067,000 | 8,755,000 | 6,726,000 | 5,655,000 | 6,237,000 | 7,108,000 |
| Cash ratio | 0.16 | 0.21 | 0.14 | 0.27 | 0.08 | 0.13 | 0.36 | 0.47 | 0.28 | 0.35 | 0.41 | 0.70 | 0.47 | 0.49 | 0.48 | 0.27 | 0.08 | 0.10 | 0.09 | 0.10 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,180,000K
+ $2,000K)
÷ $7,540,000K
= 0.16
The cash ratio of Becton Dickinson & Co. has fluctuated over the past eight quarters, ranging from a low of 0.28 to a high of 0.66. The ratio indicates the company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio typically signifies a stronger liquidity position, as it means the company has a higher level of cash to cover its short-term obligations.
In Q2 2022, the cash ratio was highest at 0.66, suggesting a robust liquidity position at that time. However, the ratio dropped to 0.28 in Q1 2023, which may indicate a temporary cash flow challenge or increased short-term obligations. The ratio then improved in subsequent quarters, with Q4 2023 showing a ratio of 0.42, indicating a recovery in liquidity.
Overall, the trend in the cash ratio for Becton Dickinson & Co. shows some volatility but appears to have stabilized in recent quarters. Further analysis of the company's cash management policies and operational efficiency may provide additional insights into its liquidity position.
Peer comparison
Dec 31, 2023