Johnson Controls International PLC (JCI)

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 1,801,000 835,000 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
Receivables US$ in thousands 6,051,000 6,077,000 6,550,000 6,012,000 5,732,000 5,791,000 5,919,000 5,757,000 5,734,000 5,811,000 5,746,000 5,234,000 5,233,000 5,599,000 5,399,000 5,534,000 5,646,000 6,878,000 6,094,000 5,761,000
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
Quick ratio 0.63 0.62 0.68 0.64 0.63 0.70 0.62 0.65 0.70 0.90 0.88 0.93 0.95 0.92 0.83 0.69 0.81 1.07 1.06 0.45

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,801,000K + $—K + $6,051,000K) ÷ $12,409,000K
= 0.63

The quick ratio for Johnson Controls International plc has shown some fluctuations over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.

The quick ratio has been relatively consistent, fluctuating between 0.72 and 0.80. A quick ratio below 1.0 may indicate potential difficulty in meeting short-term obligations, but the company's quick ratio has generally remained above this threshold, suggesting a relatively stable ability to cover short-term liabilities with its liquid assets.

Overall, the company's quick ratio indicates that it has maintained a reasonable level of liquidity to cover its short-term financial obligations during the period covered by the data. However, fluctuations in the quick ratio should be further examined in conjunction with other financial metrics to gain a more comprehensive understanding of the company's financial health.


Peer comparison

Dec 31, 2023

Company name
Symbol
Quick ratio
Johnson Controls International PLC
JCI
0.63
NV5 Global Inc
NVEE
1.24

See also:

Johnson Controls International PLC Quick Ratio (Quarterly Data)