L3Harris Technologies Inc (LHX)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,230,000 | 1,209,000 | 7,879,000 | 8,550,000 | 6,465,000 | 6,338,000 | 5,920,000 | 5,919,000 | — | — | 5,968,000 | — | — | 1,096,000 | 1,344,000 | 1,128,000 | 1,148,000 | 1,278,000 | 1,275,000 | 457,000 |
| 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 |
| Quick ratio | 0.20 | 0.20 | 1.05 | 1.07 | 1.08 | 1.12 | 1.18 | 1.10 | 0.09 | 0.08 | 1.52 | 0.26 | 0.45 | 0.49 | 0.62 | 0.53 | 0.67 | 0.38 | 0.48 | 0.44 |
June 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($547,000K
+ $—K
+ $1,230,000K)
÷ $8,981,000K
= 0.20
The quick ratio of L3Harris Technologies Inc has fluctuated over the past few quarters, indicating varying levels of liquidity. The quick ratio measures the company's ability to cover its short-term obligations with its most liquid assets, excluding inventory. A quick ratio above 1 indicates that the company has enough liquid assets to cover its short-term liabilities.
The quick ratio for L3Harris Technologies Inc was consistently above 1 from December 2022 to March 2023, suggesting a healthy liquidity position during this period. However, the quick ratio dropped significantly in the subsequent quarters, reaching a low of 0.08 in March 2022 and 0.09 in June 2022. These low ratios indicate a potential liquidity strain, as the company may not have sufficient liquid assets to cover its short-term obligations during these periods.
The quick ratio improved in the following quarters, with ratios above 1 in December 2023 and March 2024. This indicates an improvement in the company's liquidity position, providing better coverage for its short-term liabilities using its liquid assets.
Overall, the quick ratio of L3Harris Technologies Inc has displayed volatility, ranging from a low of 0.08 to a high of 1.52 over the past few quarters. Investors and stakeholders should continue to monitor the company's liquidity position to assess its ability to meet short-term obligations effectively.
Peer comparison
Jun 30, 2024