Fluor Corporation (FLR)

Liquidity ratios

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
Current ratio 1.60 1.61 1.53 1.53 1.57 1.55 1.48 1.43 1.43 1.46 1.59 1.50 1.41 1.41 1.39 1.38 1.37 1.38 1.27 1.42
Quick ratio 1.18 1.17 1.09 1.07 1.16 1.12 1.02 0.97 0.90 0.84 0.97 0.82 0.95 0.90 0.87 0.80 0.79 0.75 0.84 0.90
Cash ratio 0.82 0.79 0.73 0.73 0.82 0.81 0.70 0.66 0.65 0.60 0.73 0.57 0.62 0.60 0.55 0.51 0.51 0.48 0.48 0.52

Fluor Corporation has maintained relatively stable current ratios over the past eight quarters, ranging from 1.43 to 1.61. This indicates that the company has a healthy level of current assets to cover its short-term liabilities. The quick ratios have mirrored the trend of the current ratios, suggesting that Fluor has a strong ability to meet its immediate obligations without relying heavily on inventories.

The cash ratio, which provides a more stringent measure of liquidity by only considering cash and cash equivalents, has also been steady, ranging from 1.11 to 1.24. This implies that Fluor has a sufficient amount of highly liquid assets to cover its current liabilities. Overall, the liquidity ratios of Fluor Corporation indicate a solid financial position with the ability to meet short-term obligations comfortably.

Additional liquidity measure

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 conversion cycle days -2.73 -1.59 -0.34 0.13 1.73 -2.66 -1.91 -1.12 13.96 14.84 18.42 18.86 7.15 1.54 19.91 -7.93 -10.12 18.23 7.38 5.10

The cash conversion cycle of Fluor Corporation has shown some variability over the past several quarters. The cycle measures how long it takes for the company to convert its investments in inventory and other resources into cash flow from sales.

In Q1 2023, Fluor Corporation had a positive cash conversion cycle of 0.14 days, indicating that it took a very short time for the company to convert its inventory into cash. This was preceded by a slight improvement in Q2 2023 with a negative cycle of -0.33 days.

However, the most recent data in Q4 2023 shows a significant decrease in the cash conversion cycle to -2.73 days, which suggests that the company is now able to convert its investments into cash much more quickly than in previous quarters.

Overall, the trend seems to indicate that Fluor Corporation has been able to manage its working capital more efficiently in recent quarters, leading to a shorter cash conversion cycle. This may be a positive sign for the company's liquidity and operational efficiency.