Johnson Controls International PLC (JCI)
Quick ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 606,000 | 862,000 | 843,000 | 1,801,000 | 828,000 | 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 |
| Short-term investments | US$ in thousands | — | 27,000 | — | — | 7,000 | — | — | — | — | — | — | — | 1,066,000 | 1,016,000 | 1,045,000 | 1,003,000 | — | 834,000 | — | — |
| Receivables | US$ in thousands | 6,156,000 | 6,673,000 | 6,694,000 | 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 |
| Total current liabilities | US$ in thousands | 11,955,000 | 12,724,000 | 13,599,000 | 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 |
| Quick ratio | 0.57 | 0.59 | 0.55 | 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 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($606,000K
+ $—K
+ $6,156,000K)
÷ $11,955,000K
= 0.57
The quick ratio of Johnson Controls International PLC has shown some fluctuations over the past few years, ranging from 0.55 to 0.93. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1.0 indicates that the company may have difficulty covering its short-term liabilities with its current liquid assets.
Looking at the trend, the quick ratio has generally been above 0.6, suggesting that Johnson Controls International PLC has typically had enough liquid assets to cover its short-term liabilities. However, there was a notable decline in the quick ratio from 0.90 in December 2021 to 0.57 in September 2024.
Although the quick ratio dipped below 0.6 in some periods, it recovered and even exceeded 0.9 in a few instances. This indicates that the company has managed its liquidity well during those particular periods. It is essential for stakeholders to monitor the trend of the quick ratio to assess the company's short-term liquidity position and ability to meet its financial obligations.
Peer comparison
Sep 30, 2024
See also:
Johnson Controls International PLC Quick Ratio (Quarterly Data)