Current Ratio
since 2005
Calculation
Altria Group Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.49 | = | 5,585) | ÷ | 11,319) |
| Dec 31, 2022 | 0.84 | = | 7,220) | ÷ | 8,616) |
| Dec 31, 2021 | 0.71 | = | 6,083) | ÷ | 8,579) |
| Dec 31, 2020 | 0.79 | = | 7,117) | ÷ | 9,063) |
| Dec 31, 2019 | 0.59 | = | 4,824) | ÷ | 8,174) |
| Dec 31, 2018 | 0.20 | = | 4,299) | ÷ | 21,193) |
| Dec 31, 2017 | 0.64 | = | 4,344) | ÷ | 6,792) |
| Dec 31, 2016 | 0.98 | = | 7,260) | ÷ | 7,375) |
| Dec 31, 2015 | 0.86 | = | 6,086) | ÷ | 7,078) |
| Dec 31, 2014 | 0.90 | = | 6,878) | ÷ | 7,673) |
| Dec 31, 2013 | 0.93 | = | 6,590) | ÷ | 7,058) |
| Dec 31, 2012 | 0.76 | = | 6,315) | ÷ | 8,259) |
| Dec 31, 2011 | 0.89 | = | 7,131) | ÷ | 7,973) |
| Dec 31, 2010 | 0.86 | = | 5,981) | ÷ | 6,941) |
| Dec 31, 2009 | 0.72 | = | 5,773) | ÷ | 7,992) |
| Dec 31, 2008 | 1.55 | = | 11,076) | ÷ | 7,142) |
| Dec 31, 2007 | 1.22 | = | 22,890) | ÷ | 18,782) |
| Dec 31, 2006 | 1.03 | = | 26,152) | ÷ | 25,427) |
| Dec 31, 2005 | 0.99 | = | 25,781) | ÷ | 26,158) |
Based on: 10-K (reporting date: 2023-12-31), 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), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The liquidity profile of the entity exhibits significant volatility over the analyzed period, characterized by a general long-term decline in short-term solvency. While the current ratio peaked at 1.55 in 2008, it has spent the majority of the subsequent fifteen years below the 1.0 threshold, indicating that current liabilities frequently exceed current assets.
- Current Asset Trajectory
- A substantial reduction in current assets occurred between 2007 and 2009, where values fell from 22,890 million US$ to 5,773 million US$. Following this contraction, assets remained relatively stable between 4,000 million US$ and 7,300 million US$ through 2023, with a notable low in 2017 and 2018.
- Current Liability Fluctuations
- Short-term obligations showed extreme variance, most notably in 2018 when current liabilities spiked to 21,193 million US$, a significant increase from the previous year's 6,792 million US$. A secondary increase is observed in 2023, with liabilities rising to 11,319 million US$, the highest level since 2018.
- Current Ratio Interpretation
- The current ratio demonstrates a pattern of instability. After reaching a high of 1.55 in 2008, the ratio dropped sharply to 0.72 in 2009. The most critical liquidity constraint was recorded in 2018, with the ratio falling to 0.20, coinciding with the peak in current liabilities. Although a partial recovery occurred between 2019 and 2022, peaking at 0.84, the ratio declined again to 0.49 by the end of 2023.
- Overall Liquidity Trend
- The persistent trend of a current ratio below 1.0 suggests a systemic operational strategy where short-term obligations are not covered by liquid assets. The recurring drops, particularly the 2018 anomaly and the 2023 decline, indicate periods of heightened short-term financial pressure or strategic shifts in debt maturity structures.
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Comparison to Competitors
Altria Group Inc., current ratio, long-term trends, comparison to competitors
| Altria Group Inc. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 0.49 | 1.13 | 0.62 | 0.85 | 0.75 |
| Dec 31, 2022 | 0.84 | 1.15 | 0.60 | 0.80 | 0.72 |
| Dec 31, 2021 | 0.71 | 1.13 | 0.74 | 0.83 | 0.92 |
| Dec 31, 2020 | 0.79 | 1.32 | 0.66 | 0.98 | 1.10 |
| Dec 31, 2019 | 0.59 | 0.76 | 0.50 | 0.86 | 1.09 |
| Dec 31, 2018 | 0.20 | 1.05 | 0.45 | 0.99 | 1.13 |
| Dec 31, 2017 | 0.64 | 1.34 | 0.48 | 1.51 | 1.35 |
| Dec 31, 2016 | 0.98 | 1.28 | 0.59 | 1.28 | 1.07 |
| Dec 31, 2015 | 0.86 | 1.24 | 0.82 | 1.31 | 1.03 |
| Dec 31, 2014 | 0.90 | 1.02 | 0.84 | 1.14 | 1.02 |
| Dec 31, 2013 | 0.93 | 1.13 | 0.92 | 1.24 | 0.99 |
| Dec 31, 2012 | 0.76 | 1.09 | 1.05 | 1.10 | 0.97 |
| Dec 31, 2011 | 0.89 | 1.05 | 0.88 | 0.96 | 1.00 |
| Dec 31, 2010 | 0.86 | 1.17 | 1.04 | 1.11 | 1.07 |
| Dec 31, 2009 | 0.72 | 1.28 | 1.08 | 1.44 | 1.31 |
| Dec 31, 2008 | 1.55 | 0.94 | 1.03 | 1.23 | 1.47 |
| Dec 31, 2007 | 1.22 | 0.92 | 0.63 | 1.31 | — |
| Dec 31, 2006 | 1.03 | 0.95 | 0.79 | 1.33 | — |
| Dec 31, 2005 | 0.99 | 1.04 | 0.93 | 1.11 | — |
Based on: 10-K (reporting date: 2023-12-31), 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), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Food, Beverage & Tobacco)
Altria Group Inc., current ratio, long-term trends, comparison to sector (food, beverage & tobacco)
| Altria Group Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| Dec 31, 2023 | 0.49 | 0.85 |
| Dec 31, 2022 | 0.84 | 0.82 |
| Dec 31, 2021 | 0.71 | 0.91 |
| Dec 31, 2020 | 0.79 | 1.01 |
| Dec 31, 2019 | 0.59 | 0.81 |
| Dec 31, 2018 | 0.20 | 0.93 |
| Dec 31, 2017 | 0.64 | 1.22 |
| Dec 31, 2016 | 0.98 | 1.11 |
| Dec 31, 2015 | 0.86 | 1.15 |
| Dec 31, 2014 | 0.90 | 1.02 |
| Dec 31, 2013 | 0.93 | 1.08 |
| Dec 31, 2012 | 0.76 | 1.06 |
| Dec 31, 2011 | 0.89 | 0.98 |
| Dec 31, 2010 | 0.86 | 1.10 |
| Dec 31, 2009 | 0.72 | 1.27 |
| Dec 31, 2008 | 1.55 | 1.15 |
| Dec 31, 2007 | 1.22 | 0.87 |
| Dec 31, 2006 | 1.03 | 0.98 |
| Dec 31, 2005 | 0.99 | 1.03 |
Based on: 10-K (reporting date: 2023-12-31), 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), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Staples)
Altria Group Inc., current ratio, long-term trends, comparison to industry (consumer staples)
| Altria Group Inc. | Consumer Staples | |
|---|---|---|
| Dec 31, 2023 | 0.49 | 0.84 |
| Dec 31, 2022 | 0.84 | 0.87 |
| Dec 31, 2021 | 0.71 | 0.93 |
| Dec 31, 2020 | 0.79 | 0.92 |
| Dec 31, 2019 | 0.59 | 0.82 |
| Dec 31, 2018 | 0.20 | 0.87 |
| Dec 31, 2017 | 0.64 | 1.02 |
| Dec 31, 2016 | 0.98 | 1.04 |
| Dec 31, 2015 | 0.86 | 1.06 |
| Dec 31, 2014 | 0.90 | 0.97 |
| Dec 31, 2013 | 0.93 | 0.97 |
| Dec 31, 2012 | 0.76 | 0.99 |
| Dec 31, 2011 | 0.89 | 0.97 |
| Dec 31, 2010 | 0.86 | 1.01 |
| Dec 31, 2009 | 0.72 | 1.03 |
| Dec 31, 2008 | 1.55 | 0.98 |
| Dec 31, 2007 | 1.22 | 0.91 |
| Dec 31, 2006 | 1.03 | 1.04 |
| Dec 31, 2005 | 0.99 | 0.99 |
Based on: 10-K (reporting date: 2023-12-31), 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), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).