Stock Analysis on Net

Altria Group Inc. (NYSE:MO)

$22.49

This company has been moved to the archive! The financial data has not been updated since October 31, 2024.

Analysis of Liquidity Ratios
Quarterly Data

Microsoft Excel

Paying user area

The data is hidden behind: . Unhide it.

This is a one-time payment. There is no automatic renewal.


We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Apple Pay Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Liquidity Ratios (Summary)

Altria Group Inc., liquidity ratios (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Current ratio
Quick ratio
Cash ratio

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).


Current Ratio Trends
The current ratio showed a gradual improvement from early 2019 through 2020, increasing from 0.62 in March 2019 to a peak of 0.84 in December 2022. This indicates enhanced short-term liquidity during this period. However, starting in early 2023, the ratio declined significantly, reaching a low of 0.33 in June 2023 before a moderate recovery to around 0.44 by September 2024. Nevertheless, the overall level remained below 1.0 throughout, suggesting persistent challenges in meeting short-term liabilities from current assets.
Quick Ratio Trends
The quick ratio followed a similar pattern to the current ratio, rising from 0.35 in March 2019 to a high of 0.67 in December 2022, indicating an improving ability to cover immediate liabilities without relying on inventory. After the peak, a marked decline occurred with ratios dropping sharply to 0.15 in December 2023. From that low point, a slight recovery was seen, stabilizing around 0.24 to 0.34 by September 2024. Despite improvements in earlier years, the ratio remained below 1.0, underscoring a relatively weak liquidity position.
Cash Ratio Trends
The cash ratio also improved notably from 0.33 in March 2019 to a maximum of 0.53 in December 2021, followed by another peak of 0.47 in December 2022. This increase reflects a strengthened capacity to cover current liabilities solely with cash or cash equivalents during this timeframe. Similar to the quick ratio, the cash ratio experienced a steep decline in 2023, dropping to a low of 0.07 in June 2023, indicating a significant reduction in highly liquid assets. Subsequently, the ratio showed a recovery trend, reaching approximately 0.24 by September 2024. However, the consistently low values highlight ongoing liquidity constraints.
Overall Liquidity Analysis
Across all three liquidity metrics, there was a consistent improvement in the short-term financial position from 2019 through late 2022. However, a pronounced deterioration occurred beginning in early 2023, with all ratios experiencing sharp declines, reaching multi-year lows mid-2023. Modest recoveries occurred thereafter, but the ratios remained below historical highs and generally below 1.0, indicating limited ability to cover short-term obligations comfortably. This pattern suggests potential liquidity pressures or changing asset compositions that may warrant further investigation.

Current Ratio

Altria Group Inc., current ratio calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Current assets
Current liabilities
Liquidity Ratio
Current ratio1
Benchmarks
Current Ratio, Competitors2
Coca-Cola Co.
Mondelēz International Inc.
PepsiCo Inc.
Philip Morris International Inc.

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =

2 Click competitor name to see calculations.


The analysis of the quarterly financial data reveals several notable trends across current assets, current liabilities, and the resulting current ratio over the periods presented.

Current Assets
Current assets exhibit a fluctuating pattern without a clear linear trend. The values ranged notably from a high of 8,029 million US dollars in the first quarter of 2021 to a low of approximately 3,390 million US dollars in the third quarter of 2023. There is an observable volatility with periods of increases followed by subsequent declines, reflecting possible variability in liquidity or short-term asset management.
Current Liabilities
Current liabilities also demonstrate considerable variation, peaking at 11,319 million US dollars in the fourth quarter of 2023 and reaching a low near 5,783 million US dollars in the second quarter of 2021. The data suggest periodic spikes in short-term obligations, which may be linked to seasonal operational demands or financing activities. The overall pattern shows fluctuating liabilities with instances of sharp increases, particularly in late 2023.
Current Ratio
The current ratio trend is particularly significant, showing periods of relative improvement and decline. Initially, the ratio ranged between 0.56 and 0.80 during 2019 through early 2021, indicating modest liquidity but below the benchmark of 1.0, which suggests that current liabilities consistently exceeded current assets. The ratio subsequently suffered notable declines post-2021, reaching lows of 0.33 and 0.37 in mid-to-late 2023, signaling deteriorated short-term financial health and potential liquidity stress. A minor recovery is observed in early 2024; however, the ratio remains below 0.5, reflecting continued pressure in meeting short-term obligations.

In conclusion, the financial metrics reflect a company experiencing significant volatility in liquidity over the examined timeframe. The recurring low current ratios, often below 0.5, raise concerns about short-term financial solvency and the ability to cover current liabilities with current assets. This pattern suggests that close monitoring and potential adjustments in working capital management might be necessary to improve the liquidity position.


Quick Ratio

Altria Group Inc., quick ratio calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Cash and cash equivalents
Receivable from the sale of IQOS System commercialization rights
Receivables
Total quick assets
 
Current liabilities
Liquidity Ratio
Quick ratio1
Benchmarks
Quick Ratio, Competitors2
Coca-Cola Co.
Mondelēz International Inc.
PepsiCo Inc.
Philip Morris International Inc.

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =

2 Click competitor name to see calculations.


The analysis of the quarterly financial data reveals notable fluctuations in the key liquidity measures over the observed periods.

Total Quick Assets
The total quick assets exhibit considerable volatility across the quarters. Starting from 3,510 million USD in the first quarter of 2019, the value decreases sharply to 1,769 million USD by the third quarter of 2019. Subsequently, there is a significant recovery through 2020, reaching a peak of 5,799 million USD in the fourth quarter of 2022. This peak is followed by alternating decreases and modest increases, with a decline toward 1,984 million USD in the third quarter of 2024. These movements suggest periods of both strengthening and weakening liquidity reserves.
Current Liabilities
Current liabilities also demonstrate significant changes over the timeline. The value decreases from 10,119 million USD in the first quarter of 2019 to approximately 7,662 million USD by the third quarter of 2019. From 2020 onwards, liabilities experience variable trends, peaking near 11,664 million USD in the second quarter of 2023. The trend shows repeated fluctuations around 8,000 to 11,000 million USD levels, reflecting changes in short-term obligations that could influence liquidity management.
Quick Ratio
The quick ratio, representing liquidity relative to current liabilities, follows a pattern consistent with the changes in quick assets and current liabilities. It starts at a low 0.35 in early 2019, dropping to 0.23 by the third quarter of that year. Improvement occurs over 2020 and 2021, reaching a high of 0.67 in the fourth quarter of 2022, indicating stronger short-term financial health. However, there is a notable decline after this peak, reaching a low point of 0.15 in the third quarter of 2023, before partial recovery to approximately 0.25 by the third quarter of 2024. The oscillations in the quick ratio highlight periods of fluctuating liquidity adequacy relative to current liabilities.

Overall, the financial data suggests that the company experienced phases of diminished liquidity in 2019, followed by improvements through 2020 and 2021, culminating in a peak liquidity position at the end of 2022. Following this period, liquidity metrics show signs of weakening, particularly in 2023, but there is evidence of partial stabilization in 2024. The interplay between quick assets and current liabilities underscores the importance of managing short-term obligations to maintain favorable liquidity ratios.


Cash Ratio

Altria Group Inc., cash ratio calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Cash and cash equivalents
Total cash assets
 
Current liabilities
Liquidity Ratio
Cash ratio1
Benchmarks
Cash Ratio, Competitors2
Coca-Cola Co.
Mondelēz International Inc.
PepsiCo Inc.
Philip Morris International Inc.

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =

2 Click competitor name to see calculations.


The analysis of the financial data reveals notable fluctuations in total cash assets, current liabilities, and the cash ratio over the observed periods.

Total Cash Assets
Total cash assets exhibit significant volatility throughout the periods. Starting from a moderate level of 3,352 million US dollars as of March 31, 2019, cash assets declined to approximately 1,604 million US dollars by September 30, 2019. A sharp increase followed in the first quarter of 2020, reaching 5,616 million US dollars, before gradually decreasing to 4,945 million US dollars at the end of 2020. During 2021, cash assets again showed variability, with a high of 5,792 million US dollars in March and a low of 1,877 million US dollars in June, followed by recovery towards year-end. In 2022, cash assets ranged between approximately 2,483 and 5,353 million US dollars, showing some resilience. Notably, in 2023, cash assets dropped significantly to a low of 874 million US dollars in June, then recovered substantially towards the end of the year and into 2024, stabilizing around 1,799 to 1,897 million US dollars by the third quarter of 2024.
Current Liabilities
Current liabilities consistently remain at a much higher level compared to cash assets. The values fluctuate between approximately 5,783 million and 11,319 million US dollars over the period. There is a noticeable peak in current liabilities in the first quarter of 2020, reaching 11,154 million US dollars. Following this, liabilities trend downward into mid-2021 but rise again in late 2021 and early 2022, peaking at 11,664 million US dollars in June 2023. Although a decrease is observed towards the latest periods, current liabilities remain significantly high relative to cash assets.
Cash Ratio
The cash ratio, which measures liquidity by comparing cash assets to current liabilities, demonstrates considerable variation. It starts at 0.33 in March 2019, declines to a low of approximately 0.21 in September 2019, then improves markedly to a high of 0.58 in March 2021. Subsequently, this ratio fluctuates, with a notable decline to 0.07 in June 2023, reflecting a sharp reduction in liquidity relative to current liabilities at that time. The ratio then partially recovers to around 0.33 by mid-2024. These fluctuations indicate periodic challenges in maintaining cash liquidity relative to short-term obligations.

Overall, the data indicates periods of both liquidity strength and stress. The company experienced marked variability in cash reserves, which, combined with high and fluctuating current liabilities, led to significant changes in short-term liquidity as measured by the cash ratio. The sharp declines in liquidity metrics during mid-2023 suggest specific periods of financial pressure, while subsequent recoveries point to efforts to restore liquidity balance.