Genuine Parts Co (GPC)
Cash 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 and cash equivalents | US$ in thousands | 1,102,010 | 654,637 | 530,105 | 651,183 | 653,463 | 629,198 | 519,131 | 610,776 | 714,701 | 919,097 | 987,389 | 1,117,990 | 990,166 | 900,123 | 983,759 | 354,469 | 276,992 | 451,275 | 562,551 | 356,925 |
Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Total current liabilities | US$ in thousands | 7,827,110 | 7,800,360 | 7,899,790 | 7,917,520 | 7,686,110 | 7,495,120 | 7,293,860 | 7,249,530 | 6,581,580 | 6,537,320 | 6,521,200 | 6,336,350 | 5,894,080 | 5,976,700 | 5,968,730 | 6,581,220 | 6,394,120 | 6,372,810 | 6,498,230 | 6,545,330 |
Cash ratio | 0.14 | 0.08 | 0.07 | 0.08 | 0.09 | 0.08 | 0.07 | 0.08 | 0.11 | 0.14 | 0.15 | 0.18 | 0.17 | 0.15 | 0.16 | 0.05 | 0.04 | 0.07 | 0.09 | 0.05 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,102,010K
+ $—K)
÷ $7,827,110K
= 0.14
The cash ratio of Genuine Parts Co. has shown some fluctuations over the past eight quarters. The ratio, which measures the ability of a company to cover its short-term liabilities with its cash and cash equivalents, ranged from 0.26 to 0.35 during this period.
In the most recent quarter, Q4 2023, the cash ratio stood at 0.35, indicating that the company had $0.35 in cash and cash equivalents for every dollar of its current liabilities. This suggests an improvement in the company's liquidity position compared to the previous quarter.
However, it is worth noting that there were fluctuations in the cash ratio in the previous quarters as well, ranging between 0.26 and 0.31. While the ratio dropped to 0.26 in Q2 2023, it rebounded in subsequent quarters.
Overall, Genuine Parts Co.'s cash ratio demonstrates that the company has maintained a reasonable level of liquidity to meet its short-term obligations during the analyzed period. Investors and stakeholders may continue to monitor the company's cash position and its ability to manage liquidity effectively.