Current Ratio
since 2008
Calculation
Activision Blizzard Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 4.07 | = | 14,469) | ÷ | 3,555) |
| Dec 31, 2021 | 5.21 | = | 12,556) | ÷ | 2,411) |
| Dec 31, 2020 | 3.41 | = | 10,565) | ÷ | 3,100) |
| Dec 31, 2019 | 2.50 | = | 7,292) | ÷ | 2,915) |
| Dec 31, 2018 | 2.31 | = | 6,106) | ÷ | 2,642) |
| Dec 31, 2017 | 1.78 | = | 6,520) | ÷ | 3,663) |
| Dec 31, 2016 | 1.82 | = | 4,830) | ÷ | 2,656) |
| Dec 31, 2015 | 1.30 | = | 3,387) | ÷ | 2,611) |
| Dec 31, 2014 | 2.55 | = | 6,909) | ÷ | 2,714) |
| Dec 31, 2013 | 2.60 | = | 6,241) | ÷ | 2,405) |
| Dec 31, 2012 | 2.37 | = | 6,274) | ÷ | 2,652) |
| Dec 31, 2011 | 2.10 | = | 5,380) | ÷ | 2,556) |
| Dec 31, 2010 | 1.85 | = | 5,385) | ÷ | 2,907) |
| Dec 31, 2009 | 2.13 | = | 5,329) | ÷ | 2,507) |
| Dec 31, 2008 | 2.37 | = | 5,495) | ÷ | 2,320) |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).
1 US$ in millions
The liquidity position of the company exhibits a long-term strengthening trend, characterized by a substantial expansion of current assets relative to a comparatively stable current liabilities base. From 2008 to 2022, the company shifted from a moderate liquidity profile to a highly liquid state, with the current ratio increasing from 2.37 to 4.07.
- Current Ratio Trajectory
- The current ratio remained relatively stable between 1.85 and 2.60 from 2008 through 2014. A significant contraction occurred in 2015, where the ratio fell to its lowest point of 1.30. Following this decline, a consistent recovery period began, with the ratio accelerating sharply after 2019 to reach a peak of 5.21 in 2021, before moderating to 4.07 by the end of 2022.
- Current Asset Dynamics
- Current assets demonstrated an overall upward trajectory, growing from 5,495 million US$ in 2008 to 14,469 million US$ in 2022. A notable anomaly is observed in 2015, where current assets dropped sharply to 3,387 million US$. However, the period between 2019 and 2022 saw the most rapid expansion, with assets nearly doubling from 7,292 million US$ to over 14 billion US$.
- Current Liability Stability
- Current liabilities exhibited minimal volatility over the 14-year span. Values generally fluctuated within a narrow corridor, starting at 2,320 million US$ in 2008 and ending at 3,555 million US$ in 2022. The lack of aggressive growth in short-term obligations, paired with the aggressive growth in liquid assets, is the primary driver of the increased current ratio.
- Liquidity Analysis
- The surge in the current ratio post-2019 indicates a significant accumulation of short-term resources. The peak ratio of 5.21 in 2021 suggests a highly conservative liquidity posture, ensuring that short-term obligations are covered more than five times over by current assets.
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Comparison to Competitors
Activision Blizzard Inc., current ratio, long-term trends, comparison to competitors
| Activision Blizzard Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Dec 31, 2022 | 4.07 | 2.38 | 0.78 | 2.20 | 1.17 | 1.00 |
| Dec 31, 2021 | 5.21 | 2.93 | 0.85 | 3.15 | 0.95 | 1.08 |
| Dec 31, 2020 | 3.41 | 3.07 | 0.93 | 5.05 | 1.25 | 1.32 |
| Dec 31, 2019 | 2.50 | 3.37 | 0.84 | 4.40 | 0.90 | 0.90 |
| Dec 31, 2018 | 2.31 | 3.92 | 0.79 | 7.19 | 1.49 | 0.94 |
| Dec 31, 2017 | 1.78 | 5.14 | 0.74 | 12.92 | 1.40 | 0.81 |
| Dec 31, 2016 | 1.82 | 6.29 | 0.76 | 11.97 | 1.25 | 1.01 |
| Dec 31, 2015 | 1.30 | 4.67 | 0.68 | 11.25 | 1.54 | 1.03 |
| Dec 31, 2014 | 2.55 | 4.80 | 0.78 | 9.60 | 1.48 | 1.14 |
| Dec 31, 2013 | 2.60 | 4.58 | 0.74 | 11.88 | 1.42 | 1.21 |
| Dec 31, 2012 | 2.37 | 4.22 | 1.20 | 10.71 | 1.34 | 1.07 |
| Dec 31, 2011 | 2.10 | 5.92 | 0.65 | — | 1.49 | 1.14 |
| Dec 31, 2010 | 1.85 | 4.16 | 1.08 | — | 1.65 | 1.11 |
| Dec 31, 2009 | 2.13 | 10.62 | 0.44 | — | 1.82 | 1.33 |
| Dec 31, 2008 | 2.37 | 8.77 | 0.42 | — | 1.67 | 1.01 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).
Comparison to Sector (Media & Entertainment)
Activision Blizzard Inc., current ratio, long-term trends, comparison to sector (media & entertainment)
| Activision Blizzard Inc. | Media & Entertainment | |
|---|---|---|
| Dec 31, 2022 | 4.07 | 1.76 |
| Dec 31, 2021 | 5.21 | 2.08 |
| Dec 31, 2020 | 3.41 | 2.38 |
| Dec 31, 2019 | 2.50 | 2.16 |
| Dec 31, 2018 | 2.31 | 2.51 |
| Dec 31, 2017 | 1.78 | 2.85 |
| Dec 31, 2016 | 1.82 | 2.86 |
| Dec 31, 2015 | 1.30 | 2.47 |
| Dec 31, 2014 | 2.55 | 2.46 |
| Dec 31, 2013 | 2.60 | 2.35 |
| Dec 31, 2012 | 2.37 | 2.31 |
| Dec 31, 2011 | 2.10 | 2.17 |
| Dec 31, 2010 | 1.85 | 2.14 |
| Dec 31, 2009 | 2.13 | 2.33 |
| Dec 31, 2008 | 2.37 | 1.56 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).
Comparison to Industry (Communication Services)
Activision Blizzard Inc., current ratio, long-term trends, comparison to industry (communication services)
| Activision Blizzard Inc. | Communication Services | |
|---|---|---|
| Dec 31, 2022 | 4.07 | 1.28 |
| Dec 31, 2021 | 5.21 | 1.41 |
| Dec 31, 2020 | 3.41 | 1.74 |
| Dec 31, 2019 | 2.50 | 1.49 |
| Dec 31, 2018 | 2.31 | 1.59 |
| Dec 31, 2017 | 1.78 | 1.65 |
| Dec 31, 2016 | 1.82 | 1.69 |
| Dec 31, 2015 | 1.30 | 1.45 |
| Dec 31, 2014 | 2.55 | 1.61 |
| Dec 31, 2013 | 2.60 | 1.90 |
| Dec 31, 2012 | 2.37 | 1.44 |
| Dec 31, 2011 | 2.10 | 1.35 |
| Dec 31, 2010 | 1.85 | 1.12 |
| Dec 31, 2009 | 2.13 | 1.08 |
| Dec 31, 2008 | 2.37 | 0.93 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).