Stock Analysis on Net
Stock Analysis on Net

Air Products & Chemicals Inc. (NYSE:APD)

Analysis of Liquidity Ratios
Quarterly Data

Beginner level


Liquidity Ratios (Summary)

Air Products & Chemicals Inc., liquidity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013
Current ratio 3.48 2.59 2.59 2.54 2.28 2.36 2.21 2.17 2.40 3.08 2.92 2.36 2.20 2.03 1.21 1.31 0.92 0.79 0.78 0.80 1.06 1.01 1.05 1.11 1.06 1.06 1.06
Quick ratio 3.03 2.00 2.03 2.02 1.87 1.93 1.82 1.79 2.00 2.54 2.38 1.95 1.83 1.72 0.59 0.90 0.57 0.44 0.44 0.44 0.57 0.51 0.56 0.62 0.62 0.63 0.62
Cash ratio 2.48 1.23 1.32 1.33 1.25 1.32 1.27 1.27 1.42 1.83 1.71 1.48 1.38 1.27 0.22 0.46 0.14 0.08 0.08 0.06 0.07 0.06 0.08 0.11 0.11 0.11 0.12

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30), 10-K (filing date: 2014-11-24), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-24), 10-Q (filing date: 2014-01-29).

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Air Products & Chemicals Inc.’s current ratio improved 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. Air Products & Chemicals Inc.’s quick ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Air Products & Chemicals Inc.’s cash ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Current Ratio

Air Products & Chemicals Inc., current ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013
Selected Financial Data (US$ in thousands)
Current assets 9,006,500  4,688,500  4,719,700  4,618,300  4,915,200  4,895,200  5,089,900  5,082,200  5,055,500  5,396,300  5,355,500  5,876,700  5,347,000  5,294,100  3,548,800  4,317,300  3,378,800  3,031,200  2,779,000  2,910,800  3,102,300  3,114,500  3,137,200  3,294,800  3,339,800  3,299,900  3,330,100 
Current liabilities 2,591,000  1,806,900  1,819,000  1,820,900  2,155,200  2,073,000  2,303,500  2,338,300  2,109,800  1,752,300  1,831,600  2,489,000  2,433,200  2,602,300  2,929,800  3,283,300  3,658,900  3,839,100  3,572,400  3,648,100  2,918,900  3,081,300  3,001,900  2,963,000  3,156,100  3,110,300  3,145,200 
Liquidity Ratio
Current ratio1 3.48 2.59 2.59 2.54 2.28 2.36 2.21 2.17 2.40 3.08 2.92 2.36 2.20 2.03 1.21 1.31 0.92 0.79 0.78 0.80 1.06 1.01 1.05 1.11 1.06 1.06 1.06
Benchmarks
Current Ratio, Competitors2
Ecolab Inc. 1.60 1.51 1.33 1.24 1.18 1.14 1.27 1.34 1.27 1.15 1.34 1.23 1.05 1.02 1.42 1.00 0.97 1.01 0.93 1.31 1.12 1.19
Linde plc 0.80 0.74 0.85 0.90 1.02 1.35 1.33 0.86 0.96 0.94 0.99 1.11 1.02 1.34 1.16 1.34 1.33 1.60 1.39 1.28 1.26 1.17

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30), 10-K (filing date: 2014-11-24), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-24), 10-Q (filing date: 2014-01-29).

1 Q3 2020 Calculation
Current ratio = Current assets ÷ Current liabilities
= 9,006,500 ÷ 2,591,000 = 3.48

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. Air Products & Chemicals Inc.’s current ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Quick Ratio

Air Products & Chemicals Inc., quick ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013
Selected Financial Data (US$ in thousands)
Cash and cash items 3,921,400  2,220,100  2,406,100  2,248,700  2,696,800  2,735,900  2,923,300  2,791,300  2,986,500  3,066,900  2,722,600  3,273,600  2,332,600  1,869,300  655,500  1,501,300  514,800  313,100  279,100  206,400  215,300  195,700  238,800  336,600  337,600  356,900  387,600 
Short-term investments 2,515,700  —  —  166,000  —  2,600  12,300  184,700  7,300  137,000  407,100  404,000  1,016,100  1,423,200  —  —  —  —  —  —  —  —  —  —  —  —  — 
Trade receivables, net 1,409,700  1,399,400  1,288,600  1,260,200  1,340,700  1,258,500  1,268,200  1,207,200  1,227,600  1,252,300  1,233,400  1,174,000  1,101,200  1,176,300  1,063,300  1,439,900  1,563,200  1,373,300  1,288,500  1,406,200  1,440,800  1,381,400  1,430,400  1,486,000  1,612,700  1,613,700  1,561,200 
Total quick assets 7,846,800  3,619,500  3,694,700  3,674,900  4,037,500  3,997,000  4,203,800  4,183,200  4,221,400  4,456,200  4,363,100  4,851,600  4,449,900  4,468,800  1,718,800  2,941,200  2,078,000  1,686,400  1,567,600  1,612,600  1,656,100  1,577,100  1,669,200  1,822,600  1,950,300  1,970,600  1,948,800 
 
Current liabilities 2,591,000  1,806,900  1,819,000  1,820,900  2,155,200  2,073,000  2,303,500  2,338,300  2,109,800  1,752,300  1,831,600  2,489,000  2,433,200  2,602,300  2,929,800  3,283,300  3,658,900  3,839,100  3,572,400  3,648,100  2,918,900  3,081,300  3,001,900  2,963,000  3,156,100  3,110,300  3,145,200 
Liquidity Ratio
Quick ratio1 3.03 2.00 2.03 2.02 1.87 1.93 1.82 1.79 2.00 2.54 2.38 1.95 1.83 1.72 0.59 0.90 0.57 0.44 0.44 0.44 0.57 0.51 0.56 0.62 0.62 0.63 0.62
Benchmarks
Quick Ratio, Competitors2
Ecolab Inc. 1.12 1.06 0.82 0.73 0.69 0.67 0.75 0.80 0.74 0.69 0.81 0.73 0.63 0.61 0.88 0.61 0.59 0.61 0.52 0.74 0.63 0.68
Linde plc 0.61 0.54 0.61 0.62 0.72 0.94 0.70 0.64 0.72 0.69 0.73 0.83 0.76 1.00 0.87 0.96 0.94 1.06 0.92 0.86 0.84 0.80

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30), 10-K (filing date: 2014-11-24), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-24), 10-Q (filing date: 2014-01-29).

1 Q3 2020 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 7,846,800 ÷ 2,591,000 = 3.03

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. Air Products & Chemicals Inc.’s quick ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Cash Ratio

Air Products & Chemicals Inc., cash ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013
Selected Financial Data (US$ in thousands)
Cash and cash items 3,921,400  2,220,100  2,406,100  2,248,700  2,696,800  2,735,900  2,923,300  2,791,300  2,986,500  3,066,900  2,722,600  3,273,600  2,332,600  1,869,300  655,500  1,501,300  514,800  313,100  279,100  206,400  215,300  195,700  238,800  336,600  337,600  356,900  387,600 
Short-term investments 2,515,700  —  —  166,000  —  2,600  12,300  184,700  7,300  137,000  407,100  404,000  1,016,100  1,423,200  —  —  —  —  —  —  —  —  —  —  —  —  — 
Total cash assets 6,437,100  2,220,100  2,406,100  2,414,700  2,696,800  2,738,500  2,935,600  2,976,000  2,993,800  3,203,900  3,129,700  3,677,600  3,348,700  3,292,500  655,500  1,501,300  514,800  313,100  279,100  206,400  215,300  195,700  238,800  336,600  337,600  356,900  387,600 
 
Current liabilities 2,591,000  1,806,900  1,819,000  1,820,900  2,155,200  2,073,000  2,303,500  2,338,300  2,109,800  1,752,300  1,831,600  2,489,000  2,433,200  2,602,300  2,929,800  3,283,300  3,658,900  3,839,100  3,572,400  3,648,100  2,918,900  3,081,300  3,001,900  2,963,000  3,156,100  3,110,300  3,145,200 
Liquidity Ratio
Cash ratio1 2.48 1.23 1.32 1.33 1.25 1.32 1.27 1.27 1.42 1.83 1.71 1.48 1.38 1.27 0.22 0.46 0.14 0.08 0.08 0.06 0.07 0.06 0.08 0.11 0.11 0.11 0.12
Benchmarks
Cash Ratio, Competitors2
Ecolab Inc. 0.42 0.39 0.05 0.03 0.02 0.02 0.03 0.06 0.01 0.04 0.06 0.06 0.06 0.05 0.11 0.04 0.04 0.06 0.02 0.05 0.07 0.06
Linde plc 0.33 0.26 0.22 0.19 0.26 0.52 0.34 0.16 0.15 0.15 0.19 0.21 0.18 0.23 0.21 0.26 0.23 0.12 0.08 0.06 0.06 0.05

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30), 10-K (filing date: 2014-11-24), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-24), 10-Q (filing date: 2014-01-29).

1 Q3 2020 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 6,437,100 ÷ 2,591,000 = 2.48

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. Air Products & Chemicals Inc.’s cash ratio deteriorated from Q1 2020 to Q2 2020 but then improved from Q2 2020 to Q3 2020 exceeding Q1 2020 level.