Becton Dickinson and Company (BDX)
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 | 1,180,000 | 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 |
| Receivables | US$ in thousands | 2,267,000 | 2,534,000 | 2,414,000 | 2,413,000 | 2,282,000 | 2,191,000 | 2,218,000 | 2,303,000 | 2,177,000 | 2,497,000 | 2,078,000 | 2,118,000 | 2,370,000 | 2,398,000 | 1,993,000 | 2,160,000 | 2,074,000 | 2,345,000 | 2,220,000 | 2,279,000 |
| 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 |
| Quick ratio | 0.46 | 0.60 | 0.49 | 0.60 | 0.38 | 0.41 | 0.68 | 0.82 | 0.61 | 0.72 | 0.68 | 1.09 | 0.80 | 0.90 | 0.81 | 0.52 | 0.39 | 0.51 | 0.44 | 0.42 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,180,000K
+ $2,000K
+ $2,267,000K)
÷ $7,540,000K
= 0.46
The quick ratio is a measure of a company's liquidity that indicates its ability to meet short-term obligations with its most liquid assets. In the case of Becton Dickinson & Co., the quick ratio has fluctuated over the past eight quarters.
In Q1 2024, the quick ratio was 0.64, indicating that the company had $0.64 in liquid assets for every $1 of current liabilities, which suggests a lower level of liquidity compared to the previous quarter.
While the quick ratio was relatively stable in Q2 and Q4 of 2023 at 0.80, it experienced a decline in Q1 2023 to 0.58, signaling potential liquidity challenges during that period. The quick ratio improved in Q3 2022 and Q2 2022 to 0.87 and 1.01, respectively, suggesting better liquidity positions in those quarters.
Overall, the fluctuation in Becton Dickinson & Co.'s quick ratio over the past eight quarters indicates some variability in the company's ability to meet its short-term obligations with its readily available assets. Investors and analysts may want to monitor future changes in the quick ratio to assess the company's liquidity position and financial stability.
Peer comparison
Dec 31, 2023