L3Harris Technologies Inc (LHX)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,371,000 | 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 |
| 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 |
| Quick ratio | 0.24 | 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 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($539,000K
+ $—K
+ $1,371,000K)
÷ $7,973,000K
= 0.24
The quick ratio of L3Harris Technologies Inc has varied over the past few quarters, indicating fluctuations in its short-term liquidity position. A quick ratio below 1 signifies that the company may have difficulty meeting its short-term obligations using its most liquid assets.
The quick ratio was relatively stable around 1 from Q1 2020 to Q2 2021, showing that the company had sufficient liquid assets to cover its current liabilities. However, in subsequent quarters, the quick ratio dropped significantly, reaching a low of 0.08 in Q2 2022, indicating a potential liquidity concern.
In Q4 2022, the quick ratio improved substantially to 1.52, indicating a significant increase in the company's ability to cover its short-term liabilities with its quick assets. However, this improvement was short-lived as the quick ratio decreased again in subsequent quarters, dropping to 0.20 in Q1 and Q2 2024.
Overall, the quick ratio trend suggests that L3Harris Technologies Inc may have experienced fluctuations in its short-term liquidity position, potentially indicating a need for closer monitoring and management of its working capital and liquidity levels.
Peer comparison
Sep 30, 2024