L3Harris Technologies Inc (LHX)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 8,047,000 | 8,266,000 | 8,055,000 | 7,501,000 | 6,850,000 | 7,000,000 | 6,754,000 | 6,431,000 | 6,188,000 | 6,249,000 | 6,359,000 | 6,626,000 | 7,589,000 | 7,538,000 | 6,667,000 | 6,393,000 | 6,926,000 | 7,211,000 | 7,027,000 | 2,578,000 |
| 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 |
| Current ratio | 0.90 | 0.98 | 1.01 | 0.88 | 1.09 | 1.14 | 1.17 | 1.10 | 1.27 | 1.32 | 1.40 | 1.54 | 1.70 | 1.78 | 1.57 | 1.37 | 1.51 | 1.41 | 1.49 | 1.14 |
June 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $8,047,000K ÷ $8,981,000K
= 0.90
The current ratio of L3Harris Technologies Inc has been fluctuating over the past few quarters, indicating variations in the company's ability to meet its short-term obligations with its current assets.
The current ratio was as low as 0.88 in September 2023, suggesting that the company may have faced challenges in covering its current liabilities with its current assets during that period. However, the ratio improved in subsequent quarters, reaching a peak of 1.78 in March 2021, indicating a strong ability to meet short-term obligations.
In more recent quarters, the current ratio has been on a declining trend, falling to 0.90 in June 2024. This decrease may raise concerns about the company's liquidity position and ability to pay off its short-term debts. A current ratio below 1.0 may indicate potential liquidity issues, as current liabilities exceed current assets.
Overall, while the company has shown varying performance in terms of current ratio, it is important to closely monitor this ratio in the future to assess L3Harris Technologies Inc's liquidity position and ability to meet its short-term financial obligations.
Peer comparison
Jun 30, 2024