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
See also:
Philip Morris International Inc Quick Ratio (Quarterly Data)