Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Based on: 10-Q (reporting date: 2025-06-30), 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
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The current ratio remained relatively stable from March 31, 2020, through June 30, 2021, fluctuating between 1.20 and 1.34, with a peak of 1.34 in June 2020. It then consistently hovered around 1.20 until December 31, 2023. From March 31, 2024, onward, a gradual decline is observable, decreasing from 1.17 to 1.10 by June 30, 2025. This suggests a slight deterioration in short-term liquidity over the most recent periods, indicating the company's ability to cover current liabilities with current assets has modestly weakened but remains above 1.0, implying ongoing short-term financial stability.
- Quick Ratio
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The quick ratio shows a downward trend over the entire timeframe. Initially, it was at 1.14 in March 2020, peaked at 1.17 in June 2020, then declined steadily through 2022 to approximately 0.95. Thereafter, it fluctuated slightly around 0.99 in 2023 before resuming a downward trend in 2024, reaching 0.91 by mid-2025. The consistent drop below 1.0 from 2022 onwards implies a declining capacity to meet short-term obligations with the most liquid assets, excluding inventories, potentially signaling tighter liquidity conditions.
- Cash Ratio
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The cash ratio displayed significant volatility over the analyzed periods. It started relatively low at 0.49 in March 2020, increased to a peak of 0.62 in June 2020, then showed a general downward trend with minor fluctuations. After hovering around 0.50 in 2020–2021, the ratio fell below 0.50 in 2022 and continued declining to around 0.40 or lower in late 2023 and thereafter. The ratio reached its lowest points, approximately 0.32–0.33, during 2024 and midway through 2025. This decreasing trend indicates a reduction in the most liquid assets (cash and equivalents) relative to current liabilities, suggesting a tighter immediate liquidity position.
- Summary of Liquidity Trends
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Overall, all three liquidity ratios demonstrate a clear pattern of diminishing liquidity over the assessed periods. The current ratio maintains modest stability with a mild decline in recent quarters, while the quick and cash ratios exhibit more pronounced declines. This suggests that while the company can generally cover its current liabilities with current assets, the quality and immediacy of these assets are decreasing. The downward trends in quick and cash ratios could point to increased reliance on inventories or a reduction in liquid resources, potentially meriting closer attention to working capital management and cash flow strategies going forward.
Current Ratio
Jun 30, 2025 | 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 | 126,612) | 123,054) | 124,474) | 125,099) | 120,518) | 120,595) | 121,481) | 121,361) | 121,712) | 115,123) | 116,476) | 108,088) | 100,469) | 106,142) | 108,996) | 106,968) | 101,275) | 113,932) | 116,744) | 111,765) | 124,111) | 124,276) | |||||||
Current liabilities | 114,988) | 108,732) | 106,859) | 109,036) | 103,403) | 103,206) | 101,531) | 100,268) | 101,015) | 95,905) | 96,866) | 90,167) | 86,452) | 90,352) | 90,727) | 89,033) | 83,474) | 94,249) | 97,192) | 93,159) | 92,780) | 94,494) | |||||||
Liquidity Ratio | |||||||||||||||||||||||||||||
Current ratio1 | 1.10 | 1.13 | 1.16 | 1.15 | 1.17 | 1.17 | 1.20 | 1.21 | 1.20 | 1.20 | 1.20 | 1.20 | 1.16 | 1.17 | 1.20 | 1.20 | 1.21 | 1.21 | 1.20 | 1.20 | 1.34 | 1.32 | |||||||
Benchmarks | |||||||||||||||||||||||||||||
Current Ratio, Competitors2 | |||||||||||||||||||||||||||||
General Motors Co. | 1.22 | 1.21 | 1.13 | 1.21 | 1.18 | 1.16 | 1.08 | 1.14 | 1.15 | 1.10 | 1.10 | 1.14 | 1.15 | 1.11 | 1.10 | 1.08 | 1.10 | 1.08 | 1.01 | 1.11 | 1.12 | 1.07 | |||||||
Tesla Inc. | 2.04 | 2.00 | 2.02 | 1.84 | 1.91 | 1.72 | 1.73 | 1.69 | 1.59 | 1.57 | 1.53 | 1.46 | 1.43 | 1.35 | 1.38 | 1.39 | 1.51 | 1.66 | 1.88 | 1.63 | 1.25 | 1.24 |
Based on: 10-Q (reporting date: 2025-06-30), 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 Q2 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= 126,612 ÷ 114,988 = 1.10
2 Click competitor name to see calculations.
- Current Assets
- Current assets exhibit fluctuations over the analyzed quarters, beginning at approximately $124.3 billion in the first quarter of 2020 and dipping to a low near $100.5 billion in mid-2022. Subsequent quarters demonstrate a recovery trend, with current assets increasing to above $126 billion by the end of 2025. Overall, the pattern indicates cyclical declines and recoveries, with a slight upward trajectory toward the later periods.
- Current Liabilities
- Current liabilities start at roughly $94.5 billion in early 2020. There is a noticeable decrease during 2021, reaching a low point around $83.5 billion in mid-2021. Afterward, liabilities generally trend upward, reaching a high of about $115 billion by mid-2025. This gradual increase in liabilities after 2021 contrasts with the earlier reduction, indicating increased short-term obligations in the later periods.
- Current Ratio
- The current ratio remains relatively stable throughout the periods, fluctuating slightly above and below the 1.2 mark. Starting at 1.32 in early 2020, it decreases to approximately 1.1 by mid-2025. The steady decline in the current ratio, albeit gradual, suggests a diminishing cushion of current assets relative to current liabilities, which could indicate tightening liquidity conditions over time.
- Summary of Trends
- The company’s short-term financial position shows variability in current assets and liabilities, with a general increase in both from 2022 onwards. The simultaneous rise in liabilities alongside assets results in a stable but slightly declining current ratio. This trend suggests that while assets are growing, liabilities are increasing at a somewhat faster pace, which may impact liquidity if the trend continues.
Quick Ratio
Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
Cash and cash equivalents | 23,020) | 20,864) | 22,935) | 23,449) | 19,953) | 19,721) | 24,862) | 26,427) | 26,406) | 22,144) | 25,134) | 21,548) | 19,516) | 21,013) | 20,540) | 27,429) | 22,955) | 21,826) | 25,243) | 24,263) | 30,989) | 25,971) | |||||||
Marketable securities | 14,484) | 14,362) | 15,413) | 13,456) | 14,613) | 14,742) | 15,309) | 14,688) | 16,415) | 17,369) | 18,936) | 18,625) | 17,184) | 20,215) | 29,053) | 18,997) | 18,081) | 24,281) | 24,718) | 20,568) | 26,141) | 20,399) | |||||||
Ford Credit finance receivables, net of allowance for credit losses | 47,593) | 47,997) | 51,850) | 49,340) | 47,434) | 44,600) | 46,425) | 42,572) | 42,557) | 40,350) | 38,720) | 33,902) | 30,716) | 32,775) | 32,543) | 32,600) | 34,339) | 40,664) | 42,401) | 41,847) | 42,720) | 54,889) | |||||||
Trade and other receivables, less allowances | 19,709) | 17,225) | 14,723) | 16,469) | 16,802) | 18,698) | 15,601) | 15,129) | 14,482) | 14,920) | 15,729) | 14,764) | 15,037) | 13,031) | 11,370) | 10,851) | 8,750) | 10,448) | 9,993) | 10,114) | 9,107) | 6,625) | |||||||
Total quick assets | 104,806) | 100,448) | 104,921) | 102,714) | 98,802) | 97,761) | 102,197) | 98,816) | 99,860) | 94,783) | 98,519) | 88,839) | 82,453) | 87,034) | 93,506) | 89,877) | 84,125) | 97,219) | 102,355) | 96,792) | 108,957) | 107,884) | |||||||
Current liabilities | 114,988) | 108,732) | 106,859) | 109,036) | 103,403) | 103,206) | 101,531) | 100,268) | 101,015) | 95,905) | 96,866) | 90,167) | 86,452) | 90,352) | 90,727) | 89,033) | 83,474) | 94,249) | 97,192) | 93,159) | 92,780) | 94,494) | |||||||
Liquidity Ratio | |||||||||||||||||||||||||||||
Quick ratio1 | 0.91 | 0.92 | 0.98 | 0.94 | 0.96 | 0.95 | 1.01 | 0.99 | 0.99 | 0.99 | 1.02 | 0.99 | 0.95 | 0.96 | 1.03 | 1.01 | 1.01 | 1.03 | 1.05 | 1.04 | 1.17 | 1.14 | |||||||
Benchmarks | |||||||||||||||||||||||||||||
Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||
General Motors Co. | 0.97 | 0.96 | 0.90 | 0.95 | 0.91 | 0.88 | 0.83 | 0.88 | 0.88 | 0.82 | 0.86 | 0.88 | 0.85 | 0.84 | 0.84 | 0.79 | 0.83 | 0.83 | 0.79 | 0.89 | 0.88 | 0.88 | |||||||
Tesla Inc. | 1.35 | 1.37 | 1.42 | 1.21 | 1.24 | 1.04 | 1.13 | 1.07 | 0.96 | 0.93 | 0.94 | 0.95 | 0.96 | 0.95 | 1.00 | 1.00 | 1.12 | 1.28 | 1.49 | 1.22 | 0.82 | 0.78 |
Based on: 10-Q (reporting date: 2025-06-30), 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 Q2 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 104,806 ÷ 114,988 = 0.91
2 Click competitor name to see calculations.
- Trend in Total Quick Assets
- Total quick assets displayed fluctuations over the observed periods. Initially, from March 2020 to December 2020, quick assets showed a minor decline from 107,884 million USD to 102,355 million USD. A more pronounced decrease occurred in the following quarters, reaching a low point around June 2021 (84,125 million USD). From that point, there was a recovery phase with a general upward trend, peaking near December 2023 at approximately 102,197 million USD. Thereafter, total quick assets maintained relatively stable levels, fluctuating slightly around 100,000 to 104,000 million USD in the latest quarters.
- Trend in Current Liabilities
- Current liabilities were relatively stable during the early quarters, oscillating between roughly 92,000 to 97,000 million USD from March 2020 through December 2020. A notable decrease occurred by mid-2021, dipping to around 83,474 million USD, followed by a gradual increase in liabilities over subsequent quarters. From early 2022 onwards, current liabilities exhibited a rising trend, peaking at 114,988 million USD by June 2025. This represents an overall increase in short-term obligations over the medium term.
- Quick Ratio Dynamics
- The quick ratio initially hovered just above 1.0, indicating a balanced liquidity position, with values around 1.14 to 1.05 during 2020. This ratio declined progressively through 2021 and 2022, falling below 1.0 and reaching a low of 0.91 by mid-2025. The decline in the quick ratio suggests a weakening short-term liquidity condition, as quick assets increasingly lag behind current liabilities. Despite some minor recoveries around 2021 and 2023, the overall trajectory points to tighter liquidity management over the observed periods.
- Interpretation of Liquidity Position
- The interplay between total quick assets and current liabilities reveals a period of initial resilience followed by pressure on liquidity. The decrease in quick assets coupled with rising current liabilities has driven the quick ratio below the critical threshold of 1.0 in recent years. This could indicate elevated risks in meeting short-term obligations without relying on inventory sales. Continuous monitoring and potential corrective actions may be necessary to address this trend and safeguard the company’s liquidity posture.
Cash Ratio
Jun 30, 2025 | 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 | 23,020) | 20,864) | 22,935) | 23,449) | 19,953) | 19,721) | 24,862) | 26,427) | 26,406) | 22,144) | 25,134) | 21,548) | 19,516) | 21,013) | 20,540) | 27,429) | 22,955) | 21,826) | 25,243) | 24,263) | 30,989) | 25,971) | |||||||
Marketable securities | 14,484) | 14,362) | 15,413) | 13,456) | 14,613) | 14,742) | 15,309) | 14,688) | 16,415) | 17,369) | 18,936) | 18,625) | 17,184) | 20,215) | 29,053) | 18,997) | 18,081) | 24,281) | 24,718) | 20,568) | 26,141) | 20,399) | |||||||
Total cash assets | 37,504) | 35,226) | 38,348) | 36,905) | 34,566) | 34,463) | 40,171) | 41,115) | 42,821) | 39,513) | 44,070) | 40,173) | 36,700) | 41,228) | 49,593) | 46,426) | 41,036) | 46,107) | 49,961) | 44,831) | 57,130) | 46,370) | |||||||
Current liabilities | 114,988) | 108,732) | 106,859) | 109,036) | 103,403) | 103,206) | 101,531) | 100,268) | 101,015) | 95,905) | 96,866) | 90,167) | 86,452) | 90,352) | 90,727) | 89,033) | 83,474) | 94,249) | 97,192) | 93,159) | 92,780) | 94,494) | |||||||
Liquidity Ratio | |||||||||||||||||||||||||||||
Cash ratio1 | 0.33 | 0.32 | 0.36 | 0.34 | 0.33 | 0.33 | 0.40 | 0.41 | 0.42 | 0.41 | 0.45 | 0.45 | 0.42 | 0.46 | 0.55 | 0.52 | 0.49 | 0.49 | 0.51 | 0.48 | 0.62 | 0.49 | |||||||
Benchmarks | |||||||||||||||||||||||||||||
Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||
General Motors Co. | 0.31 | 0.30 | 0.28 | 0.34 | 0.32 | 0.28 | 0.28 | 0.36 | 0.35 | 0.31 | 0.34 | 0.35 | 0.34 | 0.33 | 0.39 | 0.33 | 0.39 | 0.38 | 0.36 | 0.46 | 0.48 | 0.51 | |||||||
Tesla Inc. | 1.23 | 1.24 | 1.27 | 1.10 | 1.11 | 0.91 | 1.01 | 0.98 | 0.84 | 0.82 | 0.83 | 0.86 | 0.87 | 0.84 | 0.90 | 0.89 | 0.99 | 1.15 | 1.36 | 1.09 | 0.70 | 0.67 |
Based on: 10-Q (reporting date: 2025-06-30), 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 Q2 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 37,504 ÷ 114,988 = 0.33
2 Click competitor name to see calculations.
- Total Cash Assets
- The trend in total cash assets shows notable fluctuations over the analyzed periods. Beginning at 46,370 million US dollars in the first quarter of 2020, cash assets peaked at 57,130 million in the subsequent quarter before declining to 44,831 million by the third quarter of 2020. There was a moderate recovery towards the end of 2020 and early 2021, followed by another set of fluctuations that generally followed a downward trajectory from 2022 onward. The lowest observed values occurred in early 2024, with a slight recovery by mid-2025, but the overall trend suggests a gradual decrease in liquid resources available over this extended timeframe.
- Current Liabilities
- Current liabilities have maintained a high level throughout the examined period, starting at 94,494 million US dollars in early 2020. There is a slight decrease in the middle of 2020, reaching a low around 83,474 million in the second quarter of 2021, but liabilities rose steadily afterward. From late 2021 through mid-2025, current liabilities show a general upward trend, culminating at 114,988 million in mid-2025. This indicates increasing short-term obligations and potential pressure on liquidity if not matched by growth in current assets.
- Cash Ratio
- The cash ratio, which measures the company's ability to cover current liabilities with cash and cash equivalents, has experienced a gradual decline over the analyzed quarters. Starting at 0.49 in the first quarter of 2020, the ratio peaked at 0.62 in the second quarter of 2020 but steadily decreased thereafter. By 2023 and through to mid-2025, the ratio settled in a lower range between 0.32 and 0.36, indicating a diminishing capacity to cover short-term liabilities with available cash. This trend suggests increased liquidity risk or a strategic choice to allocate cash elsewhere despite rising current liabilities.