Fortune Brands Innovations Inc. (FBIN)
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 | 366,400 | 453,400 | 681,700 | 539,100 | 642,500 | 345,300 | 360,600 | 378,200 | 425,600 | 460,700 | 460,000 | 356,100 | 419,100 | 464,500 | 398,400 | 359,700 | 387,900 | 336,200 | 276,300 | 281,200 |
| Short-term investments | US$ in thousands | — | — | — | 73,000 | 84,600 | — | — | — | 45,900 | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 534,200 | 578,600 | 621,200 | — | 521,800 | 936,100 | 998,500 | 1,011,600 | 885,700 | 921,800 | 844,600 | 828,500 | 734,900 | 765,200 | 657,700 | 678,200 | 624,800 | 640,100 | 706,200 | 650,100 |
| Total current liabilities | US$ in thousands | 1,200,400 | 1,192,100 | 1,640,700 | 1,413,200 | 1,544,700 | 2,047,900 | 1,441,500 | 1,354,800 | 1,971,100 | 1,528,800 | 1,364,700 | 1,197,000 | 1,345,100 | 1,135,000 | 952,800 | 1,246,100 | 1,409,300 | 1,376,600 | 1,695,200 | 1,238,800 |
| Quick ratio | 0.75 | 0.87 | 0.79 | 0.43 | 0.81 | 0.63 | 0.94 | 1.03 | 0.69 | 0.90 | 0.96 | 0.99 | 0.86 | 1.08 | 1.11 | 0.83 | 0.72 | 0.71 | 0.58 | 0.75 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($366,400K
+ $—K
+ $534,200K)
÷ $1,200,400K
= 0.75
The quick ratio of Fortune Brands Innovations Inc. has shown fluctuations over the past several quarters. The quick ratio measures the company's ability to meet short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has sufficient liquid assets to cover its current liabilities.
From the data provided, we can observe that the quick ratio has varied between 0.43 and 1.11 over the past five years. In the most recent quarter (Dec 31, 2023), the quick ratio stood at 0.75, indicating that the company may have had difficulty meeting its short-term obligations with its current liquid assets.
The quick ratio reached its highest level of 1.11 in the second quarter of 2020 (Jun 30, 2020), suggesting strong liquidity at that point in time. However, it decreased in subsequent quarters before showing some recovery.
Overall, the fluctuating trend in Fortune Brands Innovations Inc.'s quick ratio indicates varying levels of liquidity over time, which may have implications for the company's ability to meet its short-term financial obligations. Further analysis of the company's current asset composition and management of short-term liabilities could provide more insights into its liquidity position.
Peer comparison
Dec 31, 2023