Penske Automotive Group Inc (PAG)
Cash 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 and cash equivalents | US$ in thousands | 96,400 | 104,400 | 119,600 | 100,600 | 106,500 | 92,300 | 154,900 | 170,300 | 100,700 | 119,200 | 165,200 | 94,600 | 49,500 | 92,700 | 159,300 | 431,900 | 28,100 | 77,500 | 43,800 | 43,500 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 1,668,000 | 1,604,000 | 1,554,000 | 1,500,000 | 1,465,000 | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 5,657,900 | 4,949,100 | 5,068,500 | 4,760,900 | 4,713,100 | 4,313,400 | 4,214,800 | 4,413,200 | 4,274,600 | 3,836,700 | 4,402,500 | 4,588,700 | 4,674,900 | 4,108,500 | 4,689,500 | 5,229,300 | 5,451,000 | 5,346,500 | 5,169,900 | 5,376,100 |
| Cash ratio | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.04 | 0.04 | 0.02 | 0.47 | 0.40 | 0.36 | 0.33 | 0.38 | 0.03 | 0.08 | 0.01 | 0.01 | 0.01 | 0.01 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($96,400K
+ $—K)
÷ $5,657,900K
= 0.02
The cash ratio of Penske Automotive Group Inc has been relatively stable over the past eight quarters, ranging between 0.05 and 0.07. The cash ratio measures the company's ability to cover its short-term obligations using its cash and cash equivalents. A cash ratio of 0.05 to 0.07 means that for every dollar of current liabilities, Penske Automotive Group Inc has $0.05 to $0.07 in cash and cash equivalents available to cover those liabilities.
While the cash ratio provides insight into the company's liquidity position, it is important to consider the industry norms and the company's specific operational requirements when interpreting the ratio. A consistent cash ratio over time can indicate a stable liquidity position, but a declining trend may signal potential liquidity challenges. It is also essential to analyze other liquidity ratios and the company's overall financial health to gain a comprehensive understanding of its financial position.
Peer comparison
Dec 31, 2023