Fox Corp Class A (FOXA)
Cash 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 and cash equivalents | 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 |
| 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 |
| Cash ratio | 1.73 | 1.71 | 1.11 | 1.07 | 1.37 | 0.94 | 1.60 | 2.10 | 2.45 | 2.18 | 1.48 | 1.89 | 2.22 | 2.24 | 2.44 | 2.83 | 2.72 | 1.94 | 1.70 | 2.19 |
June 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($4,319,000K
+ $797,000K)
÷ $2,952,000K
= 1.73
The cash ratio of Fox Corp Class A has fluctuated over the past few years, ranging from a low of 0.94 to a high of 2.83. The cash ratio, which measures a company's ability to cover its short-term liabilities with its available cash and cash equivalents, indicates the company's liquidity position.
A higher cash ratio suggests that Fox Corp Class A has more cash and cash equivalents relative to its current liabilities, which can provide a cushion in case of unexpected financial needs or emergencies.
The increasing trend in the cash ratio from 2020 to early 2022 indicates an improvement in the company's liquidity position during that period. However, the ratio decreased in late 2022 and early 2023, suggesting a potential decrease in the company's ability to cover its short-term obligations with available cash.
Overall, a cash ratio above 1 indicates that Fox Corp Class A has sufficient cash to cover its current liabilities, but analysts should keep an eye on any significant changes in the ratio to assess the company's liquidity risk.
Peer comparison
Jun 30, 2024