ODP Corp (ODP)
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 | 392,000 | 384,000 | 335,000 | 343,000 | 403,000 | 473,000 | 417,000 | 557,000 | 514,000 | 753,000 | 691,000 | 753,000 | 729,000 | 743,000 | 762,000 | 842,000 | 698,000 | 588,000 | 444,000 | 604,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 487,000 | 542,000 | 516,000 | — | 536,000 | 591,000 | 566,000 | 572,000 | 495,000 | 482,000 | 681,000 | 687,000 | 631,000 | 661,000 | 679,000 | 850,000 | 1,418,000 | 1,744,000 | 901,000 | 944,000 |
| Total current liabilities | US$ in thousands | 1,693,000 | 1,760,000 | 1,782,000 | 1,845,000 | 1,859,000 | 1,893,000 | 1,903,000 | 1,966,000 | 2,265,000 | 2,181,000 | 2,100,000 | 2,129,000 | 2,093,000 | 2,287,000 | 2,135,000 | 2,345,000 | 3,094,000 | 3,156,000 | 3,181,000 | 3,233,000 |
| Quick ratio | 0.52 | 0.53 | 0.48 | 0.19 | 0.51 | 0.56 | 0.52 | 0.57 | 0.45 | 0.57 | 0.65 | 0.68 | 0.65 | 0.61 | 0.67 | 0.72 | 0.68 | 0.74 | 0.42 | 0.48 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($392,000K
+ $—K
+ $487,000K)
÷ $1,693,000K
= 0.52
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. ODP Corp's quick ratio has fluctuated over the past five years, ranging from a low of 0.19 to a high of 0.74.
The trend of the quick ratio shows that ODP Corp experienced a notable decrease in liquidity in the first quarter of 2023, with a quick ratio of 0.19, indicating potential difficulty in meeting short-term obligations. However, the quick ratio improved in subsequent quarters, reaching its highest level at 0.74 in the first quarter of 2020.
Overall, ODP Corp's quick ratio demonstrates variability in its liquidity position over the analyzed period. It is important for the company to closely monitor and manage its liquidity to ensure it can meet its short-term obligations effectively.
Peer comparison
Dec 31, 2023