Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Apple Inc., liquidity ratios
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-24), 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Apple Inc. current ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Apple Inc. quick ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Apple Inc. cash ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Current Ratio
Apple Inc., current ratio calculation, comparison to benchmarks
| Sep 30, 2023 | Sep 24, 2022 | Sep 25, 2021 | Sep 26, 2020 | Sep 28, 2019 | Sep 29, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Current assets | 143,566) | 135,405) | 134,836) | 143,713) | 162,819) | 131,339) | |
| Current liabilities | 145,308) | 153,982) | 125,481) | 105,392) | 105,718) | 116,866) | |
| Liquidity Ratio | |||||||
| Current ratio1 | 0.99 | 0.88 | 1.07 | 1.36 | 1.54 | 1.12 | |
| Benchmarks | |||||||
| Current Ratio, Competitors2 | |||||||
| Arista Networks Inc. | 4.39 | 4.29 | 4.34 | 4.99 | 5.81 | — | |
| Cisco Systems Inc. | 1.38 | 1.43 | 1.49 | 1.72 | 1.51 | 2.29 | |
| Super Micro Computer Inc. | 2.31 | 1.91 | 1.93 | 2.25 | 2.35 | 1.89 | |
| Current Ratio, Sector | |||||||
| Technology Hardware & Equipment | 1.10 | 0.99 | 1.17 | 1.46 | 1.55 | — | |
| Current Ratio, Industry | |||||||
| Information Technology | 1.46 | 1.44 | 1.64 | 1.85 | 1.77 | — | |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-24), 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29).
1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 143,566 ÷ 145,308 = 0.99
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. | Apple Inc. current ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Quick Ratio
Apple Inc., quick ratio calculation, comparison to benchmarks
| Sep 30, 2023 | Sep 24, 2022 | Sep 25, 2021 | Sep 26, 2020 | Sep 28, 2019 | Sep 29, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Cash and cash equivalents | 29,965) | 23,646) | 34,940) | 38,016) | 48,844) | 25,913) | |
| Current marketable securities | 31,590) | 24,658) | 27,699) | 52,927) | 51,713) | 40,388) | |
| Accounts receivable, net | 29,508) | 28,184) | 26,278) | 16,120) | 22,926) | 23,186) | |
| Vendor non-trade receivables | 31,477) | 32,748) | 25,228) | 21,325) | 22,878) | 25,809) | |
| Total quick assets | 122,540) | 109,236) | 114,145) | 128,388) | 146,361) | 115,296) | |
| Current liabilities | 145,308) | 153,982) | 125,481) | 105,392) | 105,718) | 116,866) | |
| Liquidity Ratio | |||||||
| Quick ratio1 | 0.84 | 0.71 | 0.91 | 1.22 | 1.38 | 0.99 | |
| Benchmarks | |||||||
| Quick Ratio, Competitors2 | |||||||
| Arista Networks Inc. | 3.16 | 3.05 | 3.54 | 4.25 | 5.22 | — | |
| Cisco Systems Inc. | 1.13 | 1.16 | 1.32 | 1.58 | 1.39 | 2.11 | |
| Super Micro Computer Inc. | 1.16 | 0.75 | 0.72 | 0.87 | 1.06 | 0.70 | |
| Quick Ratio, Sector | |||||||
| Technology Hardware & Equipment | 0.92 | 0.79 | 1.00 | 1.30 | 1.40 | — | |
| Quick Ratio, Industry | |||||||
| Information Technology | 1.17 | 1.15 | 1.38 | 1.60 | 1.55 | — | |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-24), 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29).
1 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 122,540 ÷ 145,308 = 0.84
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. | Apple Inc. quick ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Cash Ratio
Apple Inc., cash ratio calculation, comparison to benchmarks
| Sep 30, 2023 | Sep 24, 2022 | Sep 25, 2021 | Sep 26, 2020 | Sep 28, 2019 | Sep 29, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Cash and cash equivalents | 29,965) | 23,646) | 34,940) | 38,016) | 48,844) | 25,913) | |
| Current marketable securities | 31,590) | 24,658) | 27,699) | 52,927) | 51,713) | 40,388) | |
| Total cash assets | 61,555) | 48,304) | 62,639) | 90,943) | 100,557) | 66,301) | |
| Current liabilities | 145,308) | 153,982) | 125,481) | 105,392) | 105,718) | 116,866) | |
| Liquidity Ratio | |||||||
| Cash ratio1 | 0.42 | 0.31 | 0.50 | 0.86 | 0.95 | 0.57 | |
| Benchmarks | |||||||
| Cash Ratio, Competitors2 | |||||||
| Arista Networks Inc. | 2.62 | 2.34 | 3.07 | 3.74 | 4.56 | — | |
| Cisco Systems Inc. | 0.84 | 0.75 | 0.93 | 1.16 | 1.05 | 1.72 | |
| Super Micro Computer Inc. | 0.32 | 0.18 | 0.24 | 0.30 | 0.41 | 0.14 | |
| Cash Ratio, Sector | |||||||
| Technology Hardware & Equipment | 0.52 | 0.39 | 0.59 | 0.93 | 0.99 | — | |
| Cash Ratio, Industry | |||||||
| Information Technology | 0.75 | 0.72 | 0.96 | 1.19 | 1.11 | — | |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-24), 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29).
1 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 61,555 ÷ 145,308 = 0.42
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. | Apple Inc. cash ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |