Altria Group (MO)
Quick ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 3,686,000 | 1,537,000 | 874,000 | 3,913,000 | 4,030,000 | 2,483,000 | 2,567,000 | 5,353,000 | 4,544,000 | 2,957,000 | 1,877,000 | 5,792,000 | 4,945,000 | 4,123,000 | 4,826,000 | 5,616,000 | 2,117,000 | 1,604,000 | 1,796,000 | 3,352,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | 13,481,000 | 19,831,000 | 19,831,000 | 19,831,000 | 19,529,000 | 19,408,000 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 71,000 | 57,000 | 63,000 | 58,000 | 48,000 | 52,000 | 43,000 | 46,000 | 47,000 | 36,000 | 132,000 | 142,000 | 137,000 | 151,000 | 140,000 | 147,000 | 152,000 | 165,000 | 163,000 | 158,000 |
| Total current liabilities | US$ in thousands | 11,319,000 | 10,381,000 | 11,664,000 | 9,146,000 | 8,616,000 | 8,097,000 | 8,311,000 | 10,928,000 | 8,579,000 | 8,112,000 | 5,783,000 | 10,004,000 | 9,063,000 | 8,290,000 | 9,400,000 | 11,154,000 | 8,174,000 | 7,662,000 | 7,952,000 | 10,119,000 |
| Quick ratio | 0.33 | 0.15 | 0.08 | 0.43 | 0.47 | 0.31 | 0.31 | 0.49 | 2.11 | 2.81 | 3.78 | 2.58 | 2.72 | 2.86 | 0.53 | 0.52 | 0.28 | 0.23 | 0.25 | 0.35 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($3,686,000K
+ $—K
+ $71,000K)
÷ $11,319,000K
= 0.33
The quick ratio of Altria Group Inc. has shown some fluctuations over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio under 1.0 typically indicates that a company may have difficulty meeting its short-term liabilities.
In Q4 2023, the quick ratio was 0.39, which indicates that Altria may have limited ability to cover its current liabilities with its quick assets. This is a decrease from the previous quarter Q3 2023, where the quick ratio was 0.21, suggesting a slight improvement in the company's liquidity position.
Comparing the Q4 2023 quick ratio to the same quarter in the previous year, Q4 2022, where the ratio was 0.70, there has been a significant decline in Altria's ability to cover its short-term obligations with its liquid assets.
Overall, Altria's quick ratio has been fluctuating, indicating potential challenges in meeting its short-term obligations with its current liquid assets. Further analysis of the company's cash management practices and liquidity position may be warranted.
Peer comparison
Dec 31, 2023