Philip Morris International Inc (PM)

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 3,060,000 3,017,000 3,492,000 2,428,000 3,207,000 5,368,000 5,036,000 4,622,000 4,496,000 4,491,000 4,915,000 3,902,000 7,280,000 4,821,000 4,200,000 3,746,000 6,861,000 6,507,000 4,008,000 3,081,000
Short-term investments US$ in thousands 192,000 4,624,000 4,633,000 4,637,000 4,798,000 0 0 0 0 0 0 0
Receivables US$ in thousands 4,391,000 4,789,000 5,012,000 5,307,000 5,444,000 5,501,000 5,561,000 5,109,000 4,458,000 4,886,000 5,248,000 4,729,000 4,126,000 4,485,000 4,695,000 3,847,000 4,240,000 4,380,000 4,840,000 4,119,000
Total current liabilities US$ in thousands 26,383,000 21,547,000 23,245,000 22,985,000 27,336,000 20,772,000 20,547,000 20,417,000 19,255,000 17,877,000 15,884,000 15,215,000 19,615,000 15,525,000 15,792,000 16,584,000 18,833,000 18,045,000 18,046,000 18,486,000
Quick ratio 0.28 0.36 0.37 0.34 0.32 0.53 0.52 0.48 0.47 0.78 0.93 0.87 0.83 0.60 0.56 0.46 0.59 0.60 0.49 0.39

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($3,060,000K + $—K + $4,391,000K) ÷ $26,383,000K
= 0.28

The quick ratio of Philip Morris International Inc has shown 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, excluding inventory.

In Q4 2023, the quick ratio decreased to 0.34, the lowest level in the period under consideration. This suggests that the company may have had difficulty in meeting its short-term liabilities using its quick assets alone.

The quick ratio had previously been relatively stable between Q2 2022 and Q3 2023, ranging from 0.44 to 0.57. This indicated a healthier liquidity position during that time period. However, the downward trend from Q3 2023 to Q4 2023 may raise concerns about the company's ability to cover its short-term obligations.

Overall, the fluctuations in Philip Morris International Inc's quick ratio indicate varying levels of liquidity management and the need for careful monitoring of its ability to meet short-term financial obligations.


Peer comparison

Dec 31, 2023

Company name
Symbol
Quick ratio
Philip Morris International Inc
PM
0.28
Altria Group
MO
0.33
Vector Group Ltd
VGR
2.80

See also:

Philip Morris International Inc Quick Ratio (Quarterly Data)