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
See also:
Johnson Controls International PLC Quick Ratio (Quarterly Data)