UGI Corporation (UGI)
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 | 204,000 | 241,000 | 260,000 | 321,000 | 317,000 | 405,000 | 670,000 | 718,000 | 334,000 | 855,000 | 545,000 | 444,000 | 416,000 | 336,000 | 487,000 | 297,000 | 333,000 | 447,000 | 533,700 | 492,100 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 300 | 300 | 400 | 100 | — | — |
| Receivables | US$ in thousands | 1,188,000 | 914,000 | 991,000 | 1,523,000 | 1,629,000 | 1,255,000 | 1,361,000 | 1,818,000 | 1,589,000 | 1,008,000 | 976,000 | 1,310,000 | 1,115,000 | 732,000 | 674,600 | 1,016,300 | 1,011,100 | 640,700 | 779,800 | 1,231,400 |
| Total current liabilities | US$ in thousands | 2,341,000 | 2,274,000 | 2,083,000 | 2,273,000 | 3,380,000 | 2,444,000 | 2,068,000 | 2,499,000 | 2,581,000 | 2,297,000 | 1,701,000 | 1,892,000 | 2,097,000 | 1,755,000 | 1,679,000 | 2,116,000 | 2,391,000 | 2,028,000 | 1,594,700 | 1,777,300 |
| Quick ratio | 0.59 | 0.51 | 0.60 | 0.81 | 0.58 | 0.68 | 0.98 | 1.01 | 0.75 | 0.81 | 0.89 | 0.93 | 0.73 | 0.61 | 0.69 | 0.62 | 0.56 | 0.54 | 0.82 | 0.97 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($204,000K
+ $—K
+ $1,188,000K)
÷ $2,341,000K
= 0.59
The quick ratio is a measure of a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 indicates that a company may have difficulty covering its short-term liabilities with its current liquid assets.
Looking at the trend of UGI Corp.'s quick ratio over the past eight quarters, we observe significant fluctuations. The quick ratio ranged from a high of 1.48 in Q2 2022 to a low of 0.66 in Q4 2023. This variability suggests that UGI Corp.'s liquidity position has been unstable and may warrant further investigation into the company's liquidity management.
In the most recent quarter, Q1 2024, UGI Corp.'s quick ratio improved to 0.75 compared to the previous quarter but remained below 1. While this suggests a slight increase in the company's ability to cover its short-term liabilities with its liquid assets, the ratio is still below the ideal threshold of 1.
Overall, UGI Corp.'s quick ratio has shown inconsistency and volatility over the analyzed periods, indicating potential challenges in managing short-term liquidity and meeting obligations. It would be advisable for stakeholders to closely monitor UGI Corp.'s liquidity position and assess the factors influencing these fluctuations to ensure the company's financial health and stability.
Peer comparison
Dec 31, 2023