Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Philip Morris International Inc., liquidity ratios
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Current ratio | 0.72 | 0.92 | 1.10 | 1.09 | 1.13 | |
| Quick ratio | 0.29 | 0.44 | 0.56 | 0.56 | 0.59 | |
| Cash ratio | 0.12 | 0.23 | 0.37 | 0.36 | 0.38 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Philip Morris International Inc. current ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Philip Morris International Inc. quick ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Philip Morris International Inc. cash ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Current Ratio
Philip Morris International Inc., current ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 19,619) | 17,717) | 21,492) | 20,514) | 19,442) | |
| Current liabilities | 27,336) | 19,255) | 19,615) | 18,833) | 17,191) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 0.72 | 0.92 | 1.10 | 1.09 | 1.13 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| Altria Group Inc. | 0.84 | 0.71 | 0.79 | 0.59 | — | |
| Coca-Cola Co. | 1.15 | 1.13 | 1.32 | 0.76 | — | |
| Mondelēz International Inc. | 0.60 | 0.74 | 0.66 | 0.50 | — | |
| PepsiCo Inc. | 0.80 | 0.83 | 0.98 | 0.86 | — | |
| Current Ratio, Sector | ||||||
| Food, Beverage & Tobacco | 0.86 | 0.88 | 0.95 | 0.71 | — | |
| Current Ratio, Industry | ||||||
| Consumer Staples | 0.89 | 0.92 | 0.90 | 0.79 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= 19,619 ÷ 27,336 = 0.72
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Philip Morris International Inc. current ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Quick Ratio
Philip Morris International Inc., quick ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 3,207) | 4,496) | 7,280) | 6,861) | 6,593) | |
| Trade receivables, less allowances | 3,850) | 3,123) | 2,905) | 3,080) | 2,950) | |
| Other receivables, less allowances | 906) | 817) | 856) | 637) | 614) | |
| Total quick assets | 7,963) | 8,436) | 11,041) | 10,578) | 10,157) | |
| Current liabilities | 27,336) | 19,255) | 19,615) | 18,833) | 17,191) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.29 | 0.44 | 0.56 | 0.56 | 0.59 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| Altria Group Inc. | 0.67 | 0.54 | 0.56 | 0.28 | — | |
| Coca-Cola Co. | 0.77 | 0.81 | 0.96 | 0.56 | — | |
| Mondelēz International Inc. | 0.35 | 0.48 | 0.43 | 0.28 | — | |
| PepsiCo Inc. | 0.58 | 0.56 | 0.77 | 0.66 | — | |
| Quick Ratio, Sector | ||||||
| Food, Beverage & Tobacco | 0.59 | 0.61 | 0.70 | 0.50 | — | |
| Quick Ratio, Industry | ||||||
| Consumer Staples | 0.40 | 0.43 | 0.46 | 0.36 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 7,963 ÷ 27,336 = 0.29
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Philip Morris International Inc. quick ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Cash Ratio
Philip Morris International Inc., cash ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 3,207) | 4,496) | 7,280) | 6,861) | 6,593) | |
| Total cash assets | 3,207) | 4,496) | 7,280) | 6,861) | 6,593) | |
| Current liabilities | 27,336) | 19,255) | 19,615) | 18,833) | 17,191) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.12 | 0.23 | 0.37 | 0.36 | 0.38 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| Altria Group Inc. | 0.47 | 0.53 | 0.55 | 0.26 | — | |
| Coca-Cola Co. | 0.59 | 0.63 | 0.75 | 0.41 | — | |
| Mondelēz International Inc. | 0.11 | 0.25 | 0.24 | 0.08 | — | |
| PepsiCo Inc. | 0.20 | 0.23 | 0.41 | 0.28 | — | |
| Cash Ratio, Sector | ||||||
| Food, Beverage & Tobacco | 0.32 | 0.39 | 0.47 | 0.29 | — | |
| Cash Ratio, Industry | ||||||
| Consumer Staples | 0.25 | 0.31 | 0.33 | 0.23 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 3,207 ÷ 27,336 = 0.12
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Philip Morris International Inc. cash ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |