Fox Corp Class B (FOX)
Quick ratio
| Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 4,319,000 | 3,791,000 | 4,122,000 | 3,829,000 | 4,272,000 | 4,146,000 | 4,058,000 | 4,950,000 | 5,200,000 | 4,634,000 | 4,255,000 | 5,411,000 | 5,886,000 | 5,765,000 | 4,502,000 | 5,061,000 | 4,645,000 | 3,196,000 | 1,991,000 | 3,340,000 |
| Short-term investments | US$ in thousands | 797,000 | — | — | — | 884,000 | — | — | — | 435,000 | — | — | — | 788,000 | 926,000 | 894,000 | 640,000 | 531,000 | 256,000 | 1,100,000 | 804,000 |
| Receivables | US$ in thousands | 2,364,000 | 2,481,000 | 3,001,000 | 2,420,000 | 2,177,000 | 2,741,000 | 3,004,000 | 2,268,000 | 2,128,000 | 2,338,000 | 2,952,000 | 2,192,000 | 2,029,000 | 2,153,000 | 2,776,000 | 1,997,000 | 1,888,000 | 2,453,000 | 2,733,000 | 2,108,000 |
| Total current liabilities | US$ in thousands | 2,952,000 | 2,217,000 | 3,707,000 | 3,589,000 | 3,763,000 | 4,402,000 | 2,543,000 | 2,362,000 | 2,296,000 | 2,121,000 | 2,870,000 | 2,869,000 | 3,002,000 | 2,985,000 | 2,213,000 | 2,012,000 | 1,906,000 | 1,780,000 | 1,816,000 | 1,890,000 |
| Quick ratio | 2.53 | 2.83 | 1.92 | 1.74 | 1.95 | 1.56 | 2.78 | 3.06 | 3.38 | 3.29 | 2.51 | 2.65 | 2.90 | 2.96 | 3.69 | 3.83 | 3.71 | 3.32 | 3.21 | 3.31 |
June 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($4,319,000K
+ $797,000K
+ $2,364,000K)
÷ $2,952,000K
= 2.53
The quick ratio of Fox Corp Class B has displayed fluctuation over the past several quarters. It has ranged from a low of 1.56 to a high of 3.83, indicating varying levels of liquidity over time. A quick ratio above 1 suggests that the company has an adequate level of liquid assets to cover its current liabilities.
The trend in the quick ratio shows an overall pattern of improvement from the low of 1.56 in March 2023 to the high of 3.83 in September 2020. Since then, the quick ratio has generally remained above 3, reflecting a strong liquidity position for Fox Corp.
The recent quick ratio of 2.53 as of June 30, 2024, although lower compared to the previous quarter, still indicates a healthy liquidity position for the company. Investors and stakeholders may view this positively as it suggests that Fox Corp has the ability to meet its short-term obligations using its quick assets.
Overall, the quick ratio analysis suggests that Fox Corp Class B has maintained a solid financial position in terms of liquidity, which may indicate a strong ability to weather potential financial challenges in the short term.
Peer comparison
Jun 30, 2024