PPG Industries Inc (PPG)

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 1,514,000 1,218,000 1,228,000 1,426,000 1,099,000 1,029,000 931,000 960,000 1,005,000 1,216,000 1,195,000 1,808,000 1,826,000 2,008,000 2,252,000 1,886,000 1,216,000 1,432,000 963,000 784,000
Short-term investments US$ in thousands 75,000 64,000 68,000 56,000 55,000 60,000 61,000 73,000 67,000 88,000 110,000 120,000 96,000 87,000 45,000 50,000 57,000 58,000 53,000 55,000
Receivables US$ in thousands 3,279,000 3,612,000 3,821,000 3,595,000 3,303,000 3,541,000 3,818,000 3,659,000 3,152,000 3,382,000 3,498,000 3,034,000 2,726,000 2,843,000 2,673,000 2,804,000 2,756,000 3,028,000 3,332,000 3,197,000
Total current liabilities US$ in thousands 5,054,000 5,100,000 5,416,000 4,868,000 4,721,000 4,926,000 5,165,000 5,172,000 4,766,000 5,463,000 5,488,000 5,120,000 4,831,000 4,613,000 5,234,000 5,195,000 4,375,000 4,578,000 4,706,000 4,588,000
Quick ratio 0.96 0.96 0.94 1.04 0.94 0.94 0.93 0.91 0.89 0.86 0.88 0.97 0.96 1.07 0.95 0.91 0.92 0.99 0.92 0.88

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,514,000K + $75,000K + $3,279,000K) ÷ $5,054,000K
= 0.96

The quick ratio of PPG Industries, Inc. has remained relatively stable over the past eight quarters, ranging from 1.00 to 1.15. This indicates that the company has consistently maintained a strong ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1.00 suggests that PPG has an adequate level of current assets (excluding inventory) to cover its current liabilities, providing a cushion against potential liquidity challenges. The slight fluctuations in the quick ratio over time do not raise significant concerns about PPG's short-term liquidity position, as the ratios have mostly stayed above the acceptable threshold of 1.00. Overall, the company's quick ratio indicates a prudent management of liquidity and ability to meet its short-term financial obligations comfortably.


Peer comparison

Dec 31, 2023

Company name
Symbol
Quick ratio
PPG Industries Inc
PPG
0.96
Axalta Coating Systems Ltd
AXTA
1.37
RPM International Inc
RPM
1.22