Ingersoll Rand Inc (IR)
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 | 1,595,500 | 1,197,500 | 1,178,100 | 1,119,300 | 1,613,000 | 1,459,500 | 1,309,200 | 1,990,200 | 2,109,600 | 2,033,000 | 3,669,900 | 1,639,600 | 1,750,900 | 1,313,300 | 1,173,600 | 555,700 | 505,500 | 406,400 | 317,500 | 263,700 |
| Short-term investments | US$ in thousands | — | 28,200 | 39,700 | 31,500 | — | 30,800 | 22,900 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,234,200 | 1,216,100 | 1,219,800 | 1,243,600 | 1,122,000 | 1,032,300 | 1,018,500 | 1,013,900 | 948,600 | 927,000 | 935,800 | 978,100 | 966,600 | 934,600 | 922,200 | 1,027,500 | 459,100 | 458,400 | 498,600 | 509,900 |
| Total current liabilities | US$ in thousands | 1,827,300 | 1,654,700 | 1,624,100 | 1,700,100 | 1,674,000 | 1,523,000 | 1,464,800 | 1,453,600 | 1,467,700 | 1,632,600 | 1,823,000 | 1,536,300 | 1,498,600 | 1,425,800 | 1,478,200 | 1,390,000 | 574,600 | 595,800 | 591,300 | 616,200 |
| Quick ratio | 1.55 | 1.48 | 1.50 | 1.41 | 1.63 | 1.66 | 1.60 | 2.07 | 2.08 | 1.81 | 2.53 | 1.70 | 1.81 | 1.58 | 1.42 | 1.14 | 1.68 | 1.45 | 1.38 | 1.26 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,595,500K
+ $—K
+ $1,234,200K)
÷ $1,827,300K
= 1.55
The quick ratio of Ingersoll-Rand Inc has been relatively stable over the past eight quarters, ranging from a low of 1.50 in Q1 2023 to a high of 2.22 in Q1 2022. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.
Ingersoll-Rand's quick ratio has generally remained above 1 in all quarters, reflecting a strong liquidity position. While there was a slight decline in the quick ratio in Q1 2023 compared to the previous quarters, the ratio remained above the critical threshold of 1. The company may want to monitor its quick ratio closely to ensure it maintains a healthy liquidity position and can meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023