Fox Corp Class A (FOXA)
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 A has shown fluctuations over the past several quarters. The ratio measures the company's ability to cover its short-term liabilities with its most liquid assets. Generally, a higher quick ratio indicates stronger liquidity and ability to meet short-term obligations.
Looking at the trend, the Quick ratio was relatively stable and robust in the most recent quarters, standing at 2.53 in June 2024 and 2.83 in March 2024. These values indicate that the company had more than enough liquid assets to cover its current liabilities.
However, there were some periods of lower Quick ratios in the past, such as in December 2023 (1.92) and September 2023 (1.74), which may have indicated potential liquidity concerns during those quarters.
Despite these fluctuations, the Quick ratio has generally been above 1.5, which is considered a good benchmark for liquidity. The company's ability to maintain a Quick ratio above this threshold over multiple quarters suggests a strong financial position in terms of liquidity management. It is important for Fox Corp Class A to continue monitoring and managing its liquidity to ensure it can meet its short-term obligations effectively in the future.
Peer comparison
Jun 30, 2024