L3Harris Technologies Inc (LHX)

Cash ratio

		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	Jun 30, 2019
Cash and cash equivalents	US$ in thousands	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	530,000
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	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	2,268,000
Cash ratio		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	0.23

June 30, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($547,000K + $—K) ÷ $8,981,000K
= 0.06

The cash ratio of L3Harris Technologies Inc has exhibited fluctuations over the past few quarters. The ratio ranged from 0.06 to 0.09 in the first half of 2022 before increasing significantly to 0.21 at the end of December 2022. This high ratio was sustained in the first quarter of 2023 but dropped back to 0.09 by the end of March 2023.

Subsequently, there was a notable decline in the cash ratio to 0.06 in the second quarter of 2023, which was maintained in the third quarter of the same year. However, the ratio experienced a sudden increase to 0.09 in the fourth quarter of 2023.

In the first quarter of 2024, the cash ratio rose to 0.09 before showing a slight increase to 0.06 in the second quarter of the same year. Overall, the cash ratio has displayed some volatility in recent periods, indicating fluctuations in the company's ability to cover its short-term liabilities with its cash and cash equivalents.