Raytheon Technologies Corp (RTX)
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 | 6,587,000 | 5,456,000 | 5,391,000 | 5,893,000 | 6,220,000 | 5,381,000 | 4,767,000 | 6,040,000 | 7,832,000 | 7,476,000 | 8,051,000 | 8,579,000 | 8,802,000 | 10,001,000 | 6,975,000 | 6,025,000 | 4,937,000 | 4,983,000 | 4,316,000 | 6,240,000 |
| Short-term investments | US$ in thousands | 745,000 | 737,000 | 719,000 | 703,000 | 774,000 | 740,000 | 788,000 | 857,000 | 965,000 | 965,000 | 71,000 | 879,000 | 881,000 | — | — | 1,976,000 | 0 | 2,358,000 | 2,503,000 | — |
| Receivables | US$ in thousands | 10,838,000 | 10,058,000 | 9,903,000 | 10,069,000 | 9,108,000 | 9,233,000 | 10,394,000 | 9,076,000 | 9,661,000 | 9,538,000 | 8,912,000 | 10,037,000 | 9,254,000 | 10,115,000 | 9,496,000 | 13,104,000 | 8,743,000 | 13,607,000 | 13,695,000 | 13,574,000 |
| Total current liabilities | US$ in thousands | 46,761,000 | 45,002,000 | 41,760,000 | 40,128,000 | 39,114,000 | 38,373,000 | 37,788,000 | 35,057,000 | 35,449,000 | 34,131,000 | 34,794,000 | 36,359,000 | 35,848,000 | 35,562,000 | 35,291,000 | 31,502,000 | 46,594,000 | 35,567,000 | 35,422,000 | 31,403,000 |
| Quick ratio | 0.39 | 0.36 | 0.38 | 0.42 | 0.41 | 0.40 | 0.42 | 0.46 | 0.52 | 0.53 | 0.49 | 0.54 | 0.53 | 0.57 | 0.47 | 0.67 | 0.29 | 0.59 | 0.58 | 0.63 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($6,587,000K
+ $745,000K
+ $10,838,000K)
÷ $46,761,000K
= 0.39
The quick ratio of RTX Corp has shown fluctuations over the past eight quarters, ranging from 0.77 to 0.88. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets, excluding inventory. A quick ratio below 1 suggests potential difficulty in meeting short-term liabilities, while a ratio above 1 indicates a strong ability to cover immediate financial obligations.
In the most recent quarter (Q4 2023), the quick ratio was 0.78, slightly lower than the previous quarter but remained below the ideal threshold of 1. However, it is important to consider the industry benchmarks and historical trends of the company when evaluating the quick ratio.
Overall, RTX Corp's quick ratio has generally remained within a relatively narrow range, suggesting a consistent ability to meet short-term obligations using liquid assets. Investors and analysts may want to monitor future changes in the quick ratio to assess the company's liquidity position and financial health.
Peer comparison
Dec 31, 2023