International Flavors & Fragrances Inc (IFF)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 703,000 | 483,000 | 711,000 | 650,000 | 607,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 1,726,000 | 1,818,000 | 1,906,000 | 929,000 | 876,197 |
| Total current liabilities | US$ in thousands | 3,758,000 | 3,728,000 | 3,633,000 | 1,904,000 | 1,552,190 |
| Quick ratio | 0.65 | 0.62 | 0.72 | 0.83 | 0.96 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($703,000K
+ $—K
+ $1,726,000K)
÷ $3,758,000K
= 0.65
The quick ratio of International Flavors & Fragrances Inc. has shown a declining trend over the past five years. As of December 31, 2023, the quick ratio stands at 0.88, indicating that the company may have difficulty meeting its short-term obligations with its most liquid assets. This decrease in the quick ratio from 1.16 in 2019 to 0.88 in 2023 suggests a potential deterioration in the company's liquidity position. Investors and creditors should closely monitor this trend to assess the company's ability to cover its short-term liabilities with its current liquid assets.
Peer comparison
Dec 31, 2023