United Parcel Service Inc (UPS)
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 | 3,206,000 | 4,311,000 | 4,812,000 | 6,190,000 | 5,602,000 | 11,045,000 | 11,735,000 | 12,208,000 | 10,255,000 | 10,212,000 | 9,608,000 | 7,731,000 | 5,910,000 | 8,839,000 | 8,813,000 | 8,955,000 | 5,238,000 | 4,040,000 | 4,072,000 | 4,399,000 |
| Short-term investments | US$ in thousands | 2,866,000 | 2,967,000 | 3,071,000 | 6,410,000 | 3,984,000 | 660,000 | 670,000 | 672,000 | 674,000 | 694,000 | 346,000 | 351,000 | 406,000 | 402,000 | 403,000 | 505,000 | 503,000 | 498,000 | 725,000 | 712,000 |
| Receivables | US$ in thousands | 11,216,000 | 9,461,000 | 9,587,000 | 10,299,000 | 12,583,000 | 10,975,000 | 11,396,000 | 11,199,000 | 12,541,000 | 10,474,000 | 10,137,000 | 10,127,000 | 10,750,000 | 8,993,000 | 9,230,000 | 8,126,000 | 9,934,000 | 7,951,000 | 8,071,000 | 7,613,000 |
| Total current liabilities | US$ in thousands | 17,676,000 | 15,817,000 | 14,686,000 | 16,262,000 | 18,140,000 | 17,679,000 | 17,337,000 | 16,842,000 | 17,569,000 | 15,472,000 | 15,770,000 | 16,306,000 | 17,016,000 | 15,456,000 | 16,271,000 | 15,846,000 | 15,413,000 | 12,835,000 | 13,633,000 | 13,209,000 |
| Quick ratio | 0.98 | 1.06 | 1.19 | 1.41 | 1.22 | 1.28 | 1.37 | 1.43 | 1.34 | 1.38 | 1.27 | 1.12 | 1.00 | 1.18 | 1.13 | 1.11 | 1.02 | 0.97 | 0.94 | 0.96 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($3,206,000K
+ $2,866,000K
+ $11,216,000K)
÷ $17,676,000K
= 0.98
The quick ratio of United Parcel Service, Inc. has shown a declining trend over the past eight quarters, decreasing from 1.52 in Q1 2022 to 1.10 in Q4 2023. This indicates that the company's ability to meet its short-term liabilities with its most liquid assets has weakened over time. However, it is noteworthy that the quick ratio has generally remained above 1, suggesting that the company still has an adequate level of liquid assets to cover its short-term obligations. Further analysis is recommended to understand the factors contributing to this downward trend and assess the overall liquidity position of the company.