Sabre Corpo (SABR)

Liquidity ratios

	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
Current ratio	1.27	1.32	1.50	1.67	1.67	1.89	2.13	2.42	1.96	2.22	2.42	2.70	3.04	3.03	2.27	1.23	1.09	1.12	1.03	1.08
Quick ratio	1.19	1.12	1.29	1.45	1.52	1.63	1.88	2.21	1.79	2.02	2.24	2.50	2.92	2.83	2.09	1.10	1.00	1.00	0.90	0.94
Cash ratio	0.77	0.67	0.79	0.95	1.04	1.07	1.33	1.71	1.37	1.54	1.74	2.04	2.45	2.42	1.71	0.73	0.43	0.45	0.35	0.40

Sabre Corp's liquidity ratios, as reflected in the table data, have shown a gradual decline over the past eight quarters. The current ratio, which measures the company's ability to meet its short-term obligations with its current assets, decreased from 2.42 in Q1 2022 to 1.27 in Q4 2023. Similarly, the quick ratio, a more stringent measure of liquidity excluding inventory from current assets, also declined from 2.39 in Q1 2022 to 1.24 in Q4 2023.

The cash ratio, which focuses solely on the company's ability to cover its current liabilities with its cash and cash equivalents, exhibited a downward trend as well, falling from 1.91 in Q1 2022 to 0.84 in Q4 2023. This suggests that Sabre Corp may be facing challenges in maintaining sufficient liquid assets to meet its short-term debt obligations.

Overall, the declining trend in Sabre Corp's liquidity ratios indicates a potential strain on the company's ability to manage its short-term financial commitments. It is essential for the company to closely monitor and manage its liquidity position to ensure financial stability and mitigate the risk of defaulting on its obligations.

Additional liquidity measure

		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 conversion cycle	days	8.17	3.83	7.38	10.54	11.43	19.41	16.10	1.23	35.75	53.15	59.12	63.55	27.05	15.05	0.09	-1.62	26.14	7.34	20.92	11.34

Sabre Corp's cash conversion cycle has shown fluctuations over the past eight quarters, ranging from negative 25.71 days to positive 9.60 days. Generally, a negative cash conversion cycle indicates efficient management of working capital, implying that the company is able to convert its inventory into cash quickly.

During Q1 2022 and Q2 2022, the cash conversion cycle was negative, indicating that Sabre Corp was able to collect cash from customers faster than it paid its suppliers and converted inventory into sales. However, in Q3 2022, the cycle turned positive but improved again in Q4 2022.

In the following quarters of 2023, the cash conversion cycle continued to improve, reaching a negative 25.71 days in Q4 2023. This suggests that Sabre Corp has been managing its working capital efficiently by reducing the time it takes to convert inventory into sales and collect cash from customers.

Overall, the trend towards a more negative cash conversion cycle indicates that Sabre Corp has been effective in managing its cash flows and working capital, potentially leading to improved liquidity and financial performance.