Zoetis Inc (ZTS)
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 | 2,039,000 | 1,754,000 | 1,717,000 | 2,109,000 | 3,581,000 | 2,507,000 | 2,652,000 | 3,135,000 | 3,485,000 | 3,274,000 | 3,658,000 | 3,602,000 | 3,604,000 | 3,654,000 | 3,353,000 | 1,951,000 | 1,934,000 | 1,815,000 | 1,755,000 | 1,728,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 102,000 | 100,000 | — | — | — | — | — | — | — | — | — | 0 | 12,000 | 25,000 | 65,000 |
| Receivables | US$ in thousands | 1,362,000 | 1,257,000 | 1,322,000 | 1,186,000 | 1,286,000 | 1,189,000 | 1,291,000 | 1,222,000 | 1,180,000 | 1,152,000 | 1,170,000 | 1,125,000 | 1,061,000 | 1,012,000 | 984,000 | 965,000 | 1,123,000 | 1,030,000 | 994,000 | 970,000 |
| Total current liabilities | US$ in thousands | 1,889,000 | 1,608,000 | 1,769,000 | 1,915,000 | 3,167,000 | 2,880,000 | 3,051,000 | 3,034,000 | 1,797,000 | 1,471,000 | 2,091,000 | 2,066,000 | 2,170,000 | 2,400,000 | 1,811,000 | 1,721,000 | 1,806,000 | 1,052,000 | 1,075,000 | 1,082,000 |
| Quick ratio | 1.80 | 1.87 | 1.72 | 1.72 | 1.54 | 1.32 | 1.33 | 1.44 | 2.60 | 3.01 | 2.31 | 2.29 | 2.15 | 1.94 | 2.39 | 1.69 | 1.69 | 2.72 | 2.58 | 2.55 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,039,000K
+ $—K
+ $1,362,000K)
÷ $1,889,000K
= 1.80
The quick ratio of Zoetis Inc has demonstrated a generally stable and healthy trend over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.
In Q4 2023, the quick ratio was 2.00, indicating that the company had $2.00 of liquid assets available to cover each dollar of current liabilities. This ratio decreased slightly from the previous quarter but remained above 2, which is considered a strong indicator of financial health.
Looking back over the past two years, the quick ratio has generally improved, reaching a peak of 2.16 in Q3 2023. This suggests that Zoetis Inc has been effectively managing its liquidity and ensuring it has sufficient short-term assets to meet its obligations.
Overall, the quick ratio trend for Zoetis Inc indicates a solid liquidity position, providing a buffer against any unforeseen financial challenges in the short term.
Peer comparison
Dec 31, 2023