Johnson Controls International PLC (JCI)
Cash 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 and cash equivalents | US$ in thousands | 1,801,000 | 835,000 | 1,057,000 | 1,975,000 | 1,509,000 | 2,031,000 | 1,506,000 | 1,787,000 | 1,207,000 | 1,336,000 | 1,450,000 | 1,883,000 | 1,839,000 | 1,951,000 | 2,342,000 | 1,006,000 | 2,160,000 | 2,805,000 | 3,685,000 | 239,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 1,066,000 | 1,016,000 | 1,045,000 | 1,003,000 | — | 834,000 | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 12,409,000 | 11,084,000 | 11,128,000 | 12,403,000 | 11,563,000 | 11,239,000 | 11,883,000 | 11,654,000 | 9,987,000 | 9,098,000 | 9,285,000 | 8,740,000 | 8,486,000 | 8,248,000 | 10,304,000 | 9,509,000 | 9,692,000 | 9,070,000 | 9,242,000 | 13,441,000 |
| Cash ratio | 0.15 | 0.08 | 0.09 | 0.16 | 0.13 | 0.18 | 0.13 | 0.15 | 0.12 | 0.26 | 0.27 | 0.34 | 0.33 | 0.24 | 0.31 | 0.11 | 0.22 | 0.31 | 0.40 | 0.02 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,801,000K
+ $—K)
÷ $12,409,000K
= 0.15
The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. It is calculated by dividing a company's cash and cash equivalents by its current liabilities.
Looking at Johnson Controls International plc's cash ratio over the past eight quarters, we can observe fluctuations in the ratio. In the most recent quarter, as of December 31, 2023, the cash ratio stood at 0.24, indicating that the company had $0.24 of cash and cash equivalents for every $1 of current liabilities.
The trend in the cash ratio over the last year shows a relatively consistent level, with a slight decrease in the ratio in the second and third quarters of 2023, before increasing again in the most recent quarter. This fluctuation could indicate changes in the company's cash position and/or current liabilities during these periods.
It is important to note that while a high cash ratio may indicate a strong ability to cover short-term liabilities, it can also suggest an inefficient use of cash. Conversely, a low cash ratio may signal liquidity challenges. Therefore, a deeper understanding of the company's cash management practices and overall financial health is necessary to draw meaningful conclusions about its liquidity position.
Peer comparison
Dec 31, 2023
See also:
Johnson Controls International PLC Cash Ratio (Quarterly Data)