Berry Global Group Inc (BERY)
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 | 507,000 | 1,203,000 | 633,000 | 696,000 | 717,000 | 1,410,000 | 527,000 | 622,000 | 582,000 | 1,091,000 | 804,000 | 843,000 | 847,000 | 750,000 | 906,000 | 953,000 | 673,000 | 750,000 | 255,000 | 353,000 |
| Short-term investments | US$ in thousands | 495,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 2,483,000 | — | — |
| Receivables | US$ in thousands | 1,497,000 | 1,568,000 | 1,748,000 | — | 1,617,000 | 1,777,000 | — | — | — | 1,879,000 | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 2,370,000 | 2,713,000 | 2,325,000 | 2,320,000 | 2,255,000 | 2,844,000 | 2,630,000 | 2,744,000 | 2,664,000 | 3,186,000 | 2,879,000 | 2,498,000 | 2,295,000 | 2,183,000 | 1,995,000 | 2,202,000 | 2,077,000 | 2,039,000 | 1,156,000 | 1,127,000 |
| Quick ratio | 1.05 | 1.02 | 1.02 | 0.30 | 1.04 | 1.12 | 0.20 | 0.23 | 0.22 | 0.93 | 0.28 | 0.34 | 0.37 | 0.34 | 0.45 | 0.43 | 0.32 | 1.59 | 0.22 | 0.31 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($507,000K
+ $495,000K
+ $1,497,000K)
÷ $2,370,000K
= 1.05
The quick ratio of Berry Global Group Inc has shown significant fluctuations over the past few quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has an adequate level of liquid assets to cover its short-term liabilities.
Looking at the data provided, we can see that the quick ratio has been volatile, ranging from a low of 0.20 in June 2022 to a high of 1.12 in September 2022. The quick ratio improved in the most recent quarter, reaching 1.05, indicating a stronger liquidity position compared to the previous quarters.
The significant decline in the quick ratio in March 2023 to 0.30 may raise concerns about the company's ability to meet its short-term obligations with its current liquid assets. However, the quick ratio gradually improved in the following quarters, albeit still fluctuating.
Overall, it is important for investors and stakeholders to closely monitor Berry Global Group Inc's quick ratio trend to assess its liquidity position and ability to meet short-term financial obligations.
Peer comparison
Dec 31, 2023