GXO Logistics Inc (GXO)
Quick 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 468,000 | 473,000 | 305,000 | 426,000 | 495,000 | 434,000 | 384,000 | 312,000 | 333,000 | 275,000 | 326,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | 2,835,000 |
| Receivables | US$ in thousands | 1,753,000 | 1,661,000 | 1,719,000 | 1,605,000 | 1,647,000 | 1,507,000 | 1,560,000 | 1,492,000 | 1,962,000 | 1,391,000 | 1,297,000 |
| Total current liabilities | US$ in thousands | 2,626,000 | 2,434,000 | 2,403,000 | 2,421,000 | 2,532,000 | 2,275,000 | 2,364,000 | 2,122,000 | 2,329,000 | 2,245,000 | 2,009,000 |
| Quick ratio | 0.85 | 0.88 | 0.84 | 0.84 | 0.85 | 0.85 | 0.82 | 0.85 | 0.99 | 0.74 | 2.22 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($468,000K
+ $—K
+ $1,753,000K)
÷ $2,626,000K
= 0.85
The quick ratio of GXO Logistics Inc has ranged from 0.95 to 1.01 over the past five quarters. This ratio measures the company's ability to meet its short-term obligations using only its most liquid assets, excluding inventory.
The consistent values above 1 indicate that GXO Logistics Inc generally has a sufficient level of highly liquid assets to cover its immediate liabilities. However, the downward trend from Q3 2023 to Q2 2023 and then a slight increase in Q4 2023 may suggest a potential decrease in short-term liquidity compared to the previous quarter.
It is important for investors and stakeholders to monitor this ratio closely to ensure that the company can continue to meet its financial obligations in the short term without relying too heavily on inventory for liquidity.
Peer comparison
Dec 31, 2023