Liquidity ratios measure the company ability to meet its short-term obligations.
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Liquidity Ratios (Summary)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).
- Current Ratio
- The current ratio exhibited relative stability around the 1.2 mark throughout the analyzed period. Initial values in early 2020 ranged from 1.20 to 1.34, with a slight dip observed in the second half of 2022 and through 2023, where the ratio consistently hovered between approximately 1.15 and 1.21. Toward the end of the period, in 2024 and early 2025, the current ratio showed a modest decline, settling near 1.13. This trend suggests a consistent ability to cover current liabilities with current assets, though with a marginal weakening in recent quarters.
- Quick Ratio
- The quick ratio followed a gradually declining trajectory over the period. Early 2020 values were above 1.0, peaking near 1.17, which indicates a strong liquidity position without relying on inventory. However, starting mid-2021, the ratio showed a downward trend, intermittently dipping below 1.0 and reaching as low as 0.92 by early 2025. This decline points to a reduction in the most liquid assets relative to current liabilities and could imply increasing reliance on inventory or potential pressure on liquidity.
- Cash Ratio
- The cash ratio displayed more pronounced fluctuation and an overall decreasing trend. Beginning at approximately 0.49 in early 2020, the ratio briefly increased to 0.62 but then generally declined over the subsequent years. From 2022 onward, the ratio remained below 0.5, decreasing further to a range of about 0.32 to 0.36 by early 2025. This trend signifies a diminishing cushion of cash and cash equivalents against current liabilities, indicating reduced immediate liquidity and potential constraints in meeting short-term obligations solely through cash reserves.
Current Ratio
Mar 31, 2025 | Dec 31, 2024 | 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 | ||||||||
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Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
Current assets | ||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||
Liquidity Ratio | ||||||||||||||||||||||||||||
Current ratio1 | ||||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||||
Current Ratio, Competitors2 | ||||||||||||||||||||||||||||
General Motors Co. | ||||||||||||||||||||||||||||
Tesla Inc. |
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).
1 Q1 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Current Assets
- The current assets exhibit some fluctuations over the observed period. Beginning in March 2020, the value was approximately $124.3 billion, which subsequently declined to a low near $101.3 billion in mid-2021. After this trough, current assets generally trended upward, peaking near $125.1 billion in late 2024. The final data point in March 2025 shows a slight decrease to approximately $123.1 billion. Overall, current assets show a recovery phase following a decline during the earlier period.
- Current Liabilities
- Current liabilities also experience variation but within a narrower range. Starting from about $94.5 billion in early 2020, liabilities decreased to approximately $83.5 billion by mid-2021. From that point, liabilities have grown consistently, reaching a high of about $109.0 billion in late 2024. The liabilities slightly declined in early 2025 but remain near the peak levels observed. This trend indicates an overall increase in short-term obligations after an earlier dip.
- Current Ratio
- The current ratio remains relatively stable throughout the timeframe, fluctuating narrowly around the 1.2 mark. Initially, it was 1.32 in March 2020, then dropped slightly to around 1.17 by mid-2022. The ratio generally maintains values between 1.15 and 1.21 in subsequent quarters, ending at 1.13 in March 2025. This stability suggests consistent short-term liquidity, implying the company has sustained its ability to cover current liabilities with current assets, despite changes in absolute levels.
- Overall Interpretation
- The patterns indicate a period of initial contraction in asset and liability levels during 2020 through mid-2021, followed by recovery and growth into late 2024. Current liabilities grew at a faster pace relative to current assets in the latter period, causing a slight downward trend in the current ratio. Nevertheless, the liquidity position remains adequate with current ratios above 1.1 consistently. The relatively stable current ratio combined with large absolute figures for current assets and liabilities points to ongoing operational scale and short-term financial stability.
Quick Ratio
Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
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Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
Cash and cash equivalents | ||||||||||||||||||||||||||||
Marketable securities | ||||||||||||||||||||||||||||
Ford Credit finance receivables, net of allowance for credit losses | ||||||||||||||||||||||||||||
Trade and other receivables, less allowances | ||||||||||||||||||||||||||||
Total quick assets | ||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||
Liquidity Ratio | ||||||||||||||||||||||||||||
Quick ratio1 | ||||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||||
Quick Ratio, Competitors2 | ||||||||||||||||||||||||||||
General Motors Co. | ||||||||||||||||||||||||||||
Tesla Inc. |
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).
1 Q1 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Trend Analysis of Total Quick Assets
-
Total quick assets initially experienced a decline from 107,884 million USD in March 2020 to 84,125 million USD in June 2021. Thereafter, a recovery phase is evident, with values increasing to a peak of 104,921 million USD by December 2024. The overall pattern indicates an initial contraction followed by gradual replenishment of liquid assets over the observed period.
- Trend Analysis of Current Liabilities
-
Current liabilities displayed a general downward trend early in the period, falling from 94,494 million USD in March 2020 to 83,474 million USD in June 2021. Subsequently, liabilities increased steadily, reaching 108,732 million USD by March 2025. This reflects an expansion in short-term obligations after the initial decline.
- Trend Analysis of Quick Ratio
-
The quick ratio began above 1.1 in early 2020, indicating a comfortable liquidity position relative to current liabilities. Over the next several quarters, it gradually decreased and fluctuated around the 1.0 mark. From 2022 onward, the ratio mostly stayed below 1.0, dipping to a low of 0.92 in March 2025. This decline suggests increasingly tighter liquidity, with quick assets becoming less sufficient to cover current liabilities on an immediate basis.
- Insights and Implications
-
The interplay between declining quick assets in the early period and increasing current liabilities in the latter period led to a weakening quick ratio, which may signal growing short-term liquidity risk. Although quick assets later recovered somewhat, they did not keep pace with the rising current liabilities. Such a trend requires close monitoring to ensure the firm's ability to meet near-term obligations without facing liquidity constraints.
Cash Ratio
Mar 31, 2025 | Dec 31, 2024 | 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 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
Cash and cash equivalents | ||||||||||||||||||||||||||||
Marketable securities | ||||||||||||||||||||||||||||
Total cash assets | ||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||
Liquidity Ratio | ||||||||||||||||||||||||||||
Cash ratio1 | ||||||||||||||||||||||||||||
Benchmarks | ||||||||||||||||||||||||||||
Cash Ratio, Competitors2 | ||||||||||||||||||||||||||||
General Motors Co. | ||||||||||||||||||||||||||||
Tesla Inc. |
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 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).
1 Q1 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total cash assets
- The total cash assets demonstrated noticeable fluctuations throughout the observed periods. Initially, there was an increase from $46,370 million in March 2020 to a peak of $57,130 million in June 2020. This was followed by a downward trend reaching a lower point of $36,700 million in June 2022. Subsequently, cash assets exhibited some recovery, increasing to approximately $44,070 million by December 2022. After another decline in early 2023, cash assets generally stabilized around the $34,000 to $37,000 million range towards the end of 2024 and early 2025, indicating moderate volatility and no sustained strong growth.
- Current liabilities
- Current liabilities remained consistently high over the entire time frame, fluctuating between approximately $83,474 million and $109,036 million. From March 2020 through December 2020, liabilities hovered around the mid to high $90,000 million mark. In 2021, liabilities decreased slightly mid-year but rose again towards the end of the year. From 2022 onward, a general increasing trend became evident, with current liabilities reaching their highest levels of over $108,000 million by early 2025. This upward movement suggests rising short-term obligations over time.
- Cash ratio
- The cash ratio, representing the coverage of current liabilities by cash assets, showed a declining trend through the periods. Starting at 0.49 in March 2020, the ratio increased slightly to a peak of 0.62 in June 2020, reflecting relatively stronger liquidity during that quarter. However, after this peak, the ratio steadily decreased with minor fluctuations, falling to around 0.32 by March 2025. This decline indicates a weakening liquidity position, where available cash covers a decreasing portion of current liabilities, despite fluctuations in total cash assets and the upward trend in current liabilities.