Stock Analysis on Net
Stock Analysis on Net

Apple Inc. (NASDAQ:AAPL)

Analysis of Liquidity Ratios
Quarterly Data

Beginner level

Liquidity Ratios (Summary)

Apple Inc., liquidity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 30, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Sep 24, 2016 Jun 25, 2016 Mar 26, 2016 Dec 26, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015 Dec 27, 2014 Sep 27, 2014 Jun 28, 2014 Mar 29, 2014 Dec 28, 2013
Current ratio 1.47 1.50 1.60 1.54 1.50 1.32 1.30 1.12 1.31 1.46 1.24 1.28 1.39 1.39 1.23 1.35 1.31 1.28 1.00 1.11 1.09 1.16 1.13 1.08 1.47 1.63 1.49
Quick ratio 1.31 1.30 1.44 1.38 1.35 1.13 1.14 0.99 1.10 1.24 1.11 1.09 1.22 1.20 1.05 1.22 1.13 1.10 0.82 0.89 0.84 0.87 0.85 0.82 1.18 1.32 1.23
Cash ratio 0.98 0.98 1.05 0.95 1.05 0.85 0.80 0.57 0.80 0.98 0.67 0.74 0.94 0.91 0.72 0.85 0.86 0.81 0.50 0.52 0.53 0.56 0.44 0.40 0.82 0.96 0.76

Based on: 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-Q (filing date: 2020-01-29), 10-K (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-05), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-Q (filing date: 2018-02-02), 10-K (filing date: 2017-11-03), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-Q (filing date: 2017-02-01), 10-K (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-28), 10-K (filing date: 2014-10-27), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-24), 10-Q (filing date: 2014-01-28).

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Apple Inc.’s current ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Apple Inc.’s quick ratio deteriorated from Q1 2020 to Q2 2020 but then slightly improved from Q2 2020 to Q3 2020.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Apple Inc.’s cash ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Current Ratio

Apple Inc., current ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 30, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Sep 24, 2016 Jun 25, 2016 Mar 26, 2016 Dec 26, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015 Dec 27, 2014 Sep 27, 2014 Jun 28, 2014 Mar 29, 2014 Dec 28, 2013
Selected Financial Data (US$ in millions)
Current assets 140,065  143,753  163,231  162,819  134,973  123,346  140,828  131,339  115,761  130,053  143,810  128,645  112,875  101,990  103,332  106,869  93,761  87,592  76,219  89,378  70,953  67,891  83,403  68,531  67,949  70,541  80,347 
Current liabilities 95,318  96,094  102,161  105,718  89,704  93,772  108,283  116,866  88,548  89,320  115,788  100,814  81,302  73,342  84,130  79,006  71,486  68,265  76,092  80,610  65,285  58,729  73,611  63,448  46,205  43,208  53,769 
Liquidity Ratio
Current ratio1 1.47 1.50 1.60 1.54 1.50 1.32 1.30 1.12 1.31 1.46 1.24 1.28 1.39 1.39 1.23 1.35 1.31 1.28 1.00 1.11 1.09 1.16 1.13 1.08 1.47 1.63 1.49
Benchmarks
Current Ratio, Competitors2
Advanced Micro Devices Inc. 2.10 2.21 1.95 2.10 2.08 2.08 1.78 1.76 1.66 1.62 1.76 1.70 1.73 1.82 1.88 1.92 1.59 1.68 1.65 1.70 1.75 1.93
Analog Devices Inc. 1.47 1.30 1.08 1.32 1.35 1.52 2.34 1.50 1.58 1.53 1.76 1.47 1.99 1.38 8.91 6.35 6.97 6.76 7.82 3.66 3.92 3.79 6.01
Applied Materials Inc. 2.86 2.67 2.36 2.30 2.65 2.79 2.72 2.64 2.52 2.60 2.96 3.14 2.91 2.93 2.39 2.30 2.50 2.58 3.00 2.44 2.33 2.76 2.75 2.47 2.41 2.40 2.43
Broadcom Inc. 2.04 2.15 1.56 1.44 1.32 1.26 1.27 3.90 3.98 5.87 5.70 6.26 4.48 4.13 3.46 2.31 2.22 2.52 4.61 3.37 3.33 4.50 4.85 3.77 4.09 4.89 5.11
Cisco Systems Inc. 1.59 1.81 1.70 1.51 1.69 1.80 2.11 2.29 2.34 2.43 2.87 3.03 3.52 3.67 3.58 3.16 3.27 3.29 3.35 3.23 2.98 3.39 3.31
Intel Corp. 1.66 1.97 1.74 1.40 1.20 1.48 1.54 1.73 1.51 1.57 1.58 1.69 1.60 2.16 1.69 1.75 1.80 1.67 1.56 2.58 2.40 1.97 1.76
Lam Research Corp. 4.47 3.30 3.59 3.61 3.37 3.39 2.66 2.90 2.64 2.47 3.31 3.10 3.22 3.20 3.86 3.81 2.96 3.00 2.86 2.38 3.49 2.88 2.93
Micron Technology Inc. 2.89 2.74 2.56 2.58 2.79 2.25 2.90 2.79 2.63 2.58 2.39 2.34 2.14 1.91 1.71 1.96 2.25 2.00 2.11 2.20 2.19 2.41 2.19
NVIDIA Corp. 8.42 8.65 8.98 7.94 7.08 7.41 8.54 8.03 8.26 7.82 8.26 4.77 4.07 2.56 2.44 2.57 6.82 5.99 6.60 6.38 5.72 6.19 5.87
Qualcomm Inc. 1.97 1.57 1.76 1.88 1.77 1.55 1.54 1.55 2.73 3.60 3.41 4.00 2.95 1.67 1.97 3.14 3.07 2.87 3.13 3.62 4.26 3.36 3.55 3.73 3.72 3.56 3.87
Texas Instruments Inc. 3.92 3.49 4.13 4.34 3.01 3.68 3.27 3.97 6.54 4.62 3.87 3.89 4.00 4.39 3.29 3.31 3.36 2.75 2.77 2.92 2.52 3.36

Based on: 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-Q (filing date: 2020-01-29), 10-K (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-05), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-Q (filing date: 2018-02-02), 10-K (filing date: 2017-11-03), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-Q (filing date: 2017-02-01), 10-K (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-28), 10-K (filing date: 2014-10-27), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-24), 10-Q (filing date: 2014-01-28).

1 Q3 2020 Calculation
Current ratio = Current assets ÷ Current liabilities
= 140,065 ÷ 95,318 = 1.47

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.’s current ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Quick Ratio

Apple Inc., quick ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 30, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Sep 24, 2016 Jun 25, 2016 Mar 26, 2016 Dec 26, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015 Dec 27, 2014 Sep 27, 2014 Jun 28, 2014 Mar 29, 2014 Dec 28, 2013
Selected Financial Data (US$ in millions)
Cash and cash equivalents 33,383  40,174  39,771  48,844  50,530  37,988  44,771  25,913  31,971  45,059  27,491  20,289  18,571  15,157  16,371  20,484  18,237  21,514  16,689  21,120  15,319  14,489  19,478  13,844  12,977  18,949  14,077 
Short-term marketable securities 59,642  53,877  67,391  51,713  44,084  42,104  41,656  40,388  38,999  42,881  49,662  53,892  58,188  51,944  44,081  46,671  43,519  33,769  21,385  20,481  19,384  18,607  12,985  11,233  24,828  22,401  26,634 
Accounts receivable, net 17,882  15,722  20,970  22,926  14,148  15,085  18,077  23,186  14,104  14,324  23,440  17,874  12,399  11,579  14,057  15,754  11,714  12,229  12,953  16,849  10,370  10,905  16,709  17,460  10,788  9,700  14,200 
Vendor non-trade receivables 14,193  14,955  18,976  22,878  12,326  11,193  18,904  25,809  12,263  8,084  27,459  17,799  10,233  9,033  13,920  13,545  7,328  7,595  11,668  13,494  9,537  7,259  13,267  9,759  6,053  6,120  10,998 
Total quick assets 125,100  124,728  147,108  146,361  121,088  106,370  123,408  115,296  97,337  110,348  128,052  109,854  99,391  87,713  88,429  96,454  80,798  75,107  62,695  71,944  54,610  51,260  62,439  52,296  54,646  57,170  65,909 
 
Current liabilities 95,318  96,094  102,161  105,718  89,704  93,772  108,283  116,866  88,548  89,320  115,788  100,814  81,302  73,342  84,130  79,006  71,486  68,265  76,092  80,610  65,285  58,729  73,611  63,448  46,205  43,208  53,769 
Liquidity Ratio
Quick ratio1 1.31 1.30 1.44 1.38 1.35 1.13 1.14 0.99 1.10 1.24 1.11 1.09 1.22 1.20 1.05 1.22 1.13 1.10 0.82 0.89 0.84 0.87 0.85 0.82 1.18 1.32 1.23
Benchmarks
Quick Ratio, Competitors2
Advanced Micro Devices Inc. 1.46 1.55 1.43 1.40 1.36 1.38 1.21 1.21 1.12 1.05 1.07 1.04 1.01 1.05 1.17 1.29 1.03 0.92 0.94 0.97 1.08 1.30
Analog Devices Inc. 1.05 0.87 0.70 0.85 0.88 1.03 1.55 1.04 1.11 1.09 1.24 1.09 1.45 1.25 8.37 5.79 6.27 6.07 7.01 3.14 3.36 3.26 5.18
Applied Materials Inc. 1.76 1.75 1.45 1.38 1.57 1.63 1.63 1.62 1.59 1.75 2.19 2.34 2.17 2.23 1.71 1.66 1.73 1.74 2.06 1.77 1.57 1.86 1.85 1.71 1.63 1.58 1.53
Broadcom Inc. 1.72 1.88 1.30 1.21 1.09 1.04 1.05 3.26 3.27 5.15 4.84 5.40 3.55 3.18 2.58 1.71 1.52 1.47 3.75 2.54 2.27 3.60 3.89 2.35 1.99 3.84 3.94
Cisco Systems Inc. 1.46 1.64 1.54 1.39 1.56 1.67 1.97 2.11 2.22 2.33 2.76 2.92 3.40 3.56 3.46 3.05 3.01 3.03 3.09 2.97 2.73 3.08 3.03
Intel Corp. 1.15 1.48 1.22 0.93 0.75 0.92 1.00 1.11 0.95 0.96 1.06 1.13 1.13 1.67 1.04 1.07 1.13 1.18 1.10 1.92 1.65 1.31 1.15
Lam Research Corp. 3.60 2.62 2.94 2.90 2.73 2.54 1.93 2.26 2.17 2.04 2.77 2.62 2.73 2.73 3.42 3.34 2.47 2.50 2.38 1.96 2.88 2.24 2.35
Micron Technology Inc. 1.98 1.81 1.74 1.74 1.84 1.62 2.12 2.13 2.04 2.03 1.80 1.72 1.52 1.30 1.19 1.34 1.57 1.36 1.46 1.54 1.62 1.76 1.56
NVIDIA Corp. 7.61 7.62 7.64 6.66 6.10 6.57 7.70 7.26 7.29 6.87 7.31 4.26 3.68 2.29 2.22 2.36 6.16 5.36 5.94 5.69 5.14 5.59 5.28
Qualcomm Inc. 1.57 1.33 1.54 1.65 1.54 1.33 1.30 1.33 2.41 3.40 3.20 3.75 2.66 1.40 1.61 2.85 2.78 2.58 2.75 3.16 3.83 2.86 3.13 3.32 3.36 3.19 3.50
Texas Instruments Inc. 2.84 2.54 3.04 3.19 2.13 2.56 2.20 2.81 4.56 2.97 2.55 2.44 2.37 2.74 2.10 2.11 1.95 1.68 1.72 1.69 1.48 2.06

Based on: 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-Q (filing date: 2020-01-29), 10-K (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-05), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-Q (filing date: 2018-02-02), 10-K (filing date: 2017-11-03), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-Q (filing date: 2017-02-01), 10-K (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-28), 10-K (filing date: 2014-10-27), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-24), 10-Q (filing date: 2014-01-28).

1 Q3 2020 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 125,100 ÷ 95,318 = 1.31

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.’s quick ratio deteriorated from Q1 2020 to Q2 2020 but then slightly improved from Q2 2020 to Q3 2020.

Cash Ratio

Apple Inc., cash ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 30, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Sep 24, 2016 Jun 25, 2016 Mar 26, 2016 Dec 26, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015 Dec 27, 2014 Sep 27, 2014 Jun 28, 2014 Mar 29, 2014 Dec 28, 2013
Selected Financial Data (US$ in millions)
Cash and cash equivalents 33,383  40,174  39,771  48,844  50,530  37,988  44,771  25,913  31,971  45,059  27,491  20,289  18,571  15,157  16,371  20,484  18,237  21,514  16,689  21,120  15,319  14,489  19,478  13,844  12,977  18,949  14,077 
Short-term marketable securities 59,642  53,877  67,391  51,713  44,084  42,104  41,656  40,388  38,999  42,881  49,662  53,892  58,188  51,944  44,081  46,671  43,519  33,769  21,385  20,481  19,384  18,607  12,985  11,233  24,828  22,401  26,634 
Total cash assets 93,025  94,051  107,162  100,557  94,614  80,092  86,427  66,301  70,970  87,940  77,153  74,181  76,759  67,101  60,452  67,155  61,756  55,283  38,074  41,601  34,703  33,096  32,463  25,077  37,805  41,350  40,711 
 
Current liabilities 95,318  96,094  102,161  105,718  89,704  93,772  108,283  116,866  88,548  89,320  115,788  100,814  81,302  73,342  84,130  79,006  71,486  68,265  76,092  80,610  65,285  58,729  73,611  63,448  46,205  43,208  53,769 
Liquidity Ratio
Cash ratio1 0.98 0.98 1.05 0.95 1.05 0.85 0.80 0.57 0.80 0.98 0.67 0.74 0.94 0.91 0.72 0.85 0.86 0.81 0.50 0.52 0.53 0.56 0.44 0.40 0.82 0.96 0.76
Benchmarks
Cash Ratio, Competitors2
Advanced Micro Devices Inc. 0.73 0.70 0.64 0.65 0.63 0.68 0.58 0.56 0.53 0.62 0.80 0.55 0.58 0.69 0.94 0.85 0.61 0.54 0.56 0.52 0.59 0.70
Analog Devices Inc. 0.65 0.50 0.37 0.43 0.41 0.52 0.71 0.58 0.58 0.56 0.67 0.66 0.83 1.14 7.78 5.18 5.60 5.48 6.38 2.72 2.93 2.88 4.54
Applied Materials Inc. 1.11 1.20 0.87 0.81 0.94 1.00 0.98 0.99 0.92 1.17 1.69 1.77 1.65 1.65 1.09 1.03 1.10 1.01 1.35 1.31 0.91 1.20 1.22 1.12 1.04 0.98 0.92
Broadcom Inc. 1.32 1.39 0.83 0.73 0.66 0.63 0.61 1.84 1.89 3.85 3.59 4.43 2.46 2.17 1.67 1.01 0.72 0.77 2.52 1.63 1.42 2.77 3.04 1.58 1.36 3.07 3.05
Cisco Systems Inc. 1.10 1.23 1.14 1.05 1.24 1.37 1.61 1.72 1.90 2.08 2.44 2.56 2.99 3.16 3.06 2.64 2.65 2.65 2.67 2.56 2.34 2.65 2.60
Intel Corp. 0.83 1.15 0.87 0.59 0.48 0.61 0.64 0.70 0.67 0.70 0.81 0.80 0.85 1.38 0.81 0.84 0.88 0.95 0.86 1.62 1.38 1.03 0.94
Lam Research Corp. 2.56 1.83 2.27 2.29 2.19 1.68 1.28 1.57 1.64 1.46 2.22 2.05 2.13 2.19 2.90 2.82 1.94 2.01 1.90 1.55 2.28 1.69 1.81
Micron Technology Inc. 1.40 1.28 1.20 1.24 1.24 1.02 1.07 1.18 1.20 1.31 1.11 1.02 0.84 0.75 0.75 0.91 1.11 0.91 0.90 0.90 1.06 1.09 0.96
NVIDIA Corp. 6.62 6.44 6.60 5.58 4.72 5.43 6.60 6.16 6.15 5.69 6.31 3.80 3.27 2.03 2.00 2.14 5.53 4.81 5.43 5.16 4.54 5.05 4.84
Qualcomm Inc. 1.34 1.02 1.24 1.37 1.32 0.98 0.98 1.08 2.22 3.13 2.94 3.42 2.28 0.98 1.35 2.55 2.50 2.33 2.54 2.84 3.51 2.52 2.78 2.92 3.01 2.82 3.25
Texas Instruments Inc. 2.29 1.99 2.54 2.52 1.59 1.89 1.71 2.15 3.50 2.19 1.98 1.68 1.59 1.90 1.54 1.45 1.28 1.16 1.26 1.09 1.04 1.45

Based on: 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-Q (filing date: 2020-01-29), 10-K (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-05), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-Q (filing date: 2018-02-02), 10-K (filing date: 2017-11-03), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-Q (filing date: 2017-02-01), 10-K (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-28), 10-K (filing date: 2014-10-27), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-24), 10-Q (filing date: 2014-01-28).

1 Q3 2020 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 93,025 ÷ 95,318 = 0.98

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.’s cash ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.