L3Harris Technologies Inc (LHX)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 8,302,000 | 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 |
| 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 |
| Current ratio | 1.04 | 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 |
September 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $8,302,000K ÷ $7,973,000K
= 1.04
The current ratio of L3Harris Technologies Inc has exhibited fluctuations over the past several quarters. As of September 30, 2024, the current ratio stands at 1.04, indicating that the company has approximately $1.04 in current assets available to cover each $1 of current liabilities.
Looking at the trend over the past few quarters, the current ratio has shown a general downward trend since reaching a high of 1.78 in March 2021. The current ratio decreased to 1.37 as of December 31, 2020, and further declined to 1.04 by September 30, 2024.
It is worth noting that the current ratio dropped below 1 in some quarters, implying that the company may have had difficulty meeting its short-term obligations with its current assets alone. This occurred in September 30, 2023, when the ratio was 0.88 and June 30, 2024, when it was 0.90.
Overall, the current ratio trend suggests fluctuations in the company's liquidity position over the analyzed period, with a recent improvement as of September 30, 2024, compared to the previous quarters. It would be advisable for stakeholders to further evaluate the composition of current assets and liabilities to understand the underlying factors influencing these fluctuations in the current ratio.
Peer comparison
Sep 30, 2024