L3Harris Technologies Inc (LHX)
Cash 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 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 539,000 | 547,000 | 477,000 | 560,000 | 499,000 | 366,000 | 545,000 | 880,000 | 529,000 | 420,000 | 402,000 | 941,000 | 1,126,000 | 2,029,000 | 976,000 | 1,276,000 | 1,341,000 | 1,947,000 | 663,000 | 1,001,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 7,973,000 | 8,981,000 | 8,437,000 | 8,004,000 | 8,482,000 | 6,309,000 | 6,151,000 | 5,776,000 | 5,853,000 | 4,884,000 | 4,737,000 | 4,551,000 | 4,313,000 | 4,464,000 | 4,231,000 | 4,240,000 | 4,666,000 | 4,587,000 | 5,123,000 | 4,718,000 |
| Cash ratio | 0.07 | 0.06 | 0.06 | 0.07 | 0.06 | 0.06 | 0.09 | 0.15 | 0.09 | 0.09 | 0.08 | 0.21 | 0.26 | 0.45 | 0.23 | 0.30 | 0.29 | 0.42 | 0.13 | 0.21 |
September 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($539,000K
+ $—K)
÷ $7,973,000K
= 0.07
The cash ratio of L3Harris Technologies Inc has shown a fluctuating trend over the periods indicated. The ratio indicates the firm's ability to cover its short-term liabilities using its cash and cash equivalents.
From September 2022 to June 2023, the company maintained a relatively stable cash ratio between 0.08 and 0.09, suggesting a consistent ability to meet short-term obligations. However, in September 2023, the ratio decreased to 0.06, indicating a potential decrease in liquidity.
The cash ratio then improved to 0.07 in December 2023 before decreasing again to 0.06 in March and June 2024. This suggests some fluctuation in the company's cash position and its ability to cover short-term liabilities during these periods.
The cash ratio significantly increased to 0.15 in December 2022 and further to 0.21 in March 2022, indicating a stronger liquidity position at the end of 2022. The company sustained this strong position with a cash ratio of 0.26 in June 2021, followed by a notable peak of 0.45 in March 2021. These high ratios indicate a robust ability to cover short-term obligations with cash reserves during these periods.
In comparison, the company's cash ratio decreased to 0.30 in December 2020 and further to 0.29 in September 2020. However, it improved to 0.42 in March 2020, showing occasional fluctuations in the company's cash position and liquidity over these periods.
Overall, the company's cash ratio has shown some volatility, with periods of both strength and weakness in its ability to cover short-term liabilities with available cash and cash equivalents. Continuous monitoring of the cash ratio is essential to assess the company's liquidity and short-term financial health.
Peer comparison
Sep 30, 2024