JetBlue Airways Corp (JBLU)
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 | 1,166,000 | 973,000 | 1,462,000 | 1,333,000 | 1,042,000 | 1,401,000 | 1,611,000 | 1,834,000 | 2,018,000 | 2,193,000 | 2,409,000 | 2,358,000 | 1,918,000 | 2,453,000 | 2,561,000 | 1,618,000 | 959,000 | 695,000 | 461,000 | 464,000 |
| Short-term investments | US$ in thousands | 401,000 | 409,000 | 205,000 | 204,000 | 350,000 | 703,000 | 890,000 | 950,000 | 824,000 | 1,100,000 | 1,317,000 | 867,000 | 1,182,000 | 566,000 | 340,000 | 181,000 | 369,000 | 299,000 | 448,000 | 412,000 |
| Receivables | US$ in thousands | 336,000 | 329,000 | 309,000 | 331,000 | 317,000 | 298,000 | 291,000 | 248,000 | 207,000 | 210,000 | 276,000 | 153,000 | 98,000 | 91,000 | 85,000 | 101,000 | 231,000 | 251,000 | 282,000 | 338,000 |
| Total current liabilities | US$ in thousands | 3,628,000 | 3,723,000 | 3,890,000 | 4,010,000 | 3,748,000 | 3,903,000 | 4,065,000 | 4,026,000 | 3,417,000 | 3,566,000 | 3,973,000 | 3,131,000 | 2,674,000 | 2,808,000 | 3,985,000 | 3,622,000 | 2,663,000 | 2,759,000 | 2,889,000 | 2,851,000 |
| Quick ratio | 0.52 | 0.46 | 0.51 | 0.47 | 0.46 | 0.62 | 0.69 | 0.75 | 0.89 | 0.98 | 1.01 | 1.08 | 1.20 | 1.11 | 0.75 | 0.52 | 0.59 | 0.45 | 0.41 | 0.43 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,166,000K
+ $401,000K
+ $336,000K)
÷ $3,628,000K
= 0.52
Jetblue Airways Corp's quick ratio has shown fluctuations over the past eight quarters. The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets, excluding inventory. A higher quick ratio indicates a stronger ability to cover short-term liabilities.
Looking at the data provided, we can see that the quick ratio has generally declined from Q1 2022 to Q4 2023, with some fluctuations in between. In Q4 2023, the quick ratio stands at 0.57, showing an increase from the previous quarter's 0.50. However, it is important to note that the current quick ratio is still relatively low compared to the levels seen in earlier quarters.
The declining trend in the quick ratio may indicate that Jetblue Airways Corp's liquidity position has weakened over the past quarters. A quick ratio below 1 suggests that the company may have difficulty meeting its short-term obligations without selling inventory or obtaining additional financing.
It is recommended that Jetblue Airways Corp closely monitors its liquidity position and takes appropriate steps to improve its quick ratio, such as increasing cash reserves or reducing current liabilities. Maintaining a healthy quick ratio is essential for ensuring the company's financial stability and ability to weather any short-term financial challenges.
Peer comparison
Dec 31, 2023