Stock Analysis on Net

Apple Inc. (NASDAQ:AAPL)

Analysis of Liquidity Ratios
Quarterly Data

Microsoft Excel

Liquidity Ratios (Summary)

Apple Inc., liquidity ratios (quarterly data)

Microsoft Excel
Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Sep 24, 2022 Jun 25, 2022 Mar 26, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021 Dec 26, 2020 Sep 26, 2020 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
Current ratio 1.07 0.99 0.98 0.94 0.94 0.88 0.86 0.93 1.04 1.07 1.06 1.14 1.16 1.36 1.47 1.50 1.60 1.54 1.50 1.32 1.30 1.12 1.31 1.46 1.24
Quick ratio 0.92 0.84 0.81 0.76 0.77 0.71 0.70 0.76 0.88 0.91 0.89 0.97 1.02 1.22 1.31 1.30 1.44 1.38 1.35 1.13 1.14 0.99 1.10 1.24 1.11
Cash ratio 0.55 0.42 0.50 0.47 0.37 0.31 0.37 0.40 0.43 0.50 0.57 0.66 0.58 0.86 0.98 0.98 1.05 0.95 1.05 0.85 0.80 0.57 0.80 0.98 0.67

Based on: 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-K (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29), 10-K (reporting date: 2018-09-29), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-30).

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Apple Inc. current ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Apple Inc. quick ratio improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Apple Inc. cash ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 exceeding Q3 2023 level.

Current Ratio

Apple Inc., current ratio calculation (quarterly data)

Microsoft Excel
Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Sep 24, 2022 Jun 25, 2022 Mar 26, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021 Dec 26, 2020 Sep 26, 2020 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
Selected Financial Data (US$ in millions)
Current assets 143,692 143,566 122,659 112,913 128,777 135,405 112,292 118,180 153,154 134,836 114,423 121,465 154,106 143,713 140,065 143,753 163,231 162,819 134,973 123,346 140,828 131,339 115,761 130,053 143,810
Current liabilities 133,973 145,308 124,963 120,075 137,286 153,982 129,873 127,508 147,574 125,481 107,754 106,385 132,507 105,392 95,318 96,094 102,161 105,718 89,704 93,772 108,283 116,866 88,548 89,320 115,788
Liquidity Ratio
Current ratio1 1.07 0.99 0.98 0.94 0.94 0.88 0.86 0.93 1.04 1.07 1.06 1.14 1.16 1.36 1.47 1.50 1.60 1.54 1.50 1.32 1.30 1.12 1.31 1.46 1.24
Benchmarks
Current Ratio, Competitors2
Arista Networks Inc. 4.39 4.15 4.14 3.96 4.29 4.01 3.70 3.73 4.34 5.06 5.03 5.09 4.99 5.50 5.59 5.82 5.81 5.91 5.77 5.34
Cisco Systems Inc. 1.47 1.38 1.39 1.41 1.45 1.43 1.49 1.42 1.62 1.49 1.53 1.61 1.59 1.72 1.59 1.81 1.70 1.51 1.69 1.80 2.11 2.29 2.34 2.43 2.87
Super Micro Computer Inc. 2.23 2.31 2.49 2.89 2.13 1.91 1.79 1.91 1.85 1.93 2.10 2.29 2.51 2.25 2.10 2.26 2.41 2.35 2.40 2.10 2.02

Based on: 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-K (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29), 10-K (reporting date: 2018-09-29), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-30).

1 Q1 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 143,692 ÷ 133,973 = 1.07

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 improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Quick Ratio

Apple Inc., quick ratio calculation (quarterly data)

Microsoft Excel
Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Sep 24, 2022 Jun 25, 2022 Mar 26, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021 Dec 26, 2020 Sep 26, 2020 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
Selected Financial Data (US$ in millions)
Cash and cash equivalents 40,760 29,965 28,408 24,687 20,535 23,646 27,502 28,098 37,119 34,940 34,050 38,466 36,010 38,016 33,383 40,174 39,771 48,844 50,530 37,988 44,771 25,913 31,971 45,059 27,491
Current marketable securities 32,340 31,590 34,074 31,185 30,820 24,658 20,729 23,413 26,794 27,699 27,646 31,368 40,816 52,927 59,642 53,877 67,391 51,713 44,084 42,104 41,656 40,388 38,999 42,881 49,662
Accounts receivable, net 23,194 29,508 19,549 17,936 23,752 28,184 21,803 20,815 30,213 26,278 17,475 18,503 27,101 16,120 17,882 15,722 20,970 22,926 14,148 15,085 18,077 23,186 14,104 14,324 23,440
Vendor non-trade receivables 26,908 31,477 19,637 17,963 30,428 32,748 20,439 24,585 35,040 25,228 16,433 14,533 31,519 21,325 14,193 14,955 18,976 22,878 12,326 11,193 18,904 25,809 12,263 8,084 27,459
Total quick assets 123,202 122,540 101,668 91,771 105,535 109,236 90,473 96,911 129,166 114,145 95,604 102,870 135,446 128,388 125,100 124,728 147,108 146,361 121,088 106,370 123,408 115,296 97,337 110,348 128,052
 
Current liabilities 133,973 145,308 124,963 120,075 137,286 153,982 129,873 127,508 147,574 125,481 107,754 106,385 132,507 105,392 95,318 96,094 102,161 105,718 89,704 93,772 108,283 116,866 88,548 89,320 115,788
Liquidity Ratio
Quick ratio1 0.92 0.84 0.81 0.76 0.77 0.71 0.70 0.76 0.88 0.91 0.89 0.97 1.02 1.22 1.31 1.30 1.44 1.38 1.35 1.13 1.14 0.99 1.10 1.24 1.11
Benchmarks
Quick Ratio, Competitors2
Arista Networks Inc. 3.16 2.86 2.73 2.65 3.05 2.89 2.73 2.97 3.54 4.23 4.24 4.33 4.25 4.73 4.94 5.22 5.22 5.28 4.95 4.46
Cisco Systems Inc. 1.18 1.13 1.11 1.13 1.16 1.16 1.23 1.20 1.41 1.32 1.35 1.46 1.45 1.58 1.46 1.64 1.54 1.39 1.56 1.67 1.97 2.11 2.22 2.33 2.76
Super Micro Computer Inc. 0.87 1.16 0.95 1.17 0.72 0.75 0.62 0.62 0.66 0.72 0.75 0.95 1.06 0.87 0.81 1.00 1.01 1.06 0.88 0.76 0.75

Based on: 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-K (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29), 10-K (reporting date: 2018-09-29), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-30).

1 Q1 2024 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 123,202 ÷ 133,973 = 0.92

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 improved from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Cash Ratio

Apple Inc., cash ratio calculation (quarterly data)

Microsoft Excel
Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Sep 24, 2022 Jun 25, 2022 Mar 26, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021 Dec 26, 2020 Sep 26, 2020 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
Selected Financial Data (US$ in millions)
Cash and cash equivalents 40,760 29,965 28,408 24,687 20,535 23,646 27,502 28,098 37,119 34,940 34,050 38,466 36,010 38,016 33,383 40,174 39,771 48,844 50,530 37,988 44,771 25,913 31,971 45,059 27,491
Current marketable securities 32,340 31,590 34,074 31,185 30,820 24,658 20,729 23,413 26,794 27,699 27,646 31,368 40,816 52,927 59,642 53,877 67,391 51,713 44,084 42,104 41,656 40,388 38,999 42,881 49,662
Total cash assets 73,100 61,555 62,482 55,872 51,355 48,304 48,231 51,511 63,913 62,639 61,696 69,834 76,826 90,943 93,025 94,051 107,162 100,557 94,614 80,092 86,427 66,301 70,970 87,940 77,153
 
Current liabilities 133,973 145,308 124,963 120,075 137,286 153,982 129,873 127,508 147,574 125,481 107,754 106,385 132,507 105,392 95,318 96,094 102,161 105,718 89,704 93,772 108,283 116,866 88,548 89,320 115,788
Liquidity Ratio
Cash ratio1 0.55 0.42 0.50 0.47 0.37 0.31 0.37 0.40 0.43 0.50 0.57 0.66 0.58 0.86 0.98 0.98 1.05 0.95 1.05 0.85 0.80 0.57 0.80 0.98 0.67
Benchmarks
Cash Ratio, Competitors2
Arista Networks Inc. 2.62 2.41 2.26 2.10 2.34 2.37 2.27 2.50 3.07 3.79 3.82 3.85 3.74 4.28 4.35 4.60 4.56 4.46 4.30 3.96
Cisco Systems Inc. 0.87 0.84 0.81 0.81 0.79 0.75 0.83 0.81 1.00 0.93 0.97 1.12 1.11 1.16 1.10 1.23 1.14 1.05 1.24 1.37 1.61 1.72 1.90 2.08 2.44
Super Micro Computer Inc. 0.34 0.32 0.33 0.33 0.18 0.18 0.17 0.21 0.25 0.24 0.23 0.47 0.51 0.30 0.38 0.46 0.41 0.41 0.30 0.16 0.14

Based on: 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-Q (reporting date: 2021-12-25), 10-K (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-K (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29), 10-K (reporting date: 2018-09-29), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-30).

1 Q1 2024 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 73,100 ÷ 133,973 = 0.55

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 Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 exceeding Q3 2023 level.