Current Ratio
since 2005
Calculation
Johnson Controls International plc, current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Sep 30, 2023 | 0.97 | = | 10,737) | ÷ | 11,084) |
| Sep 30, 2022 | 1.04 | = | 11,685) | ÷ | 11,239) |
| Sep 30, 2021 | 1.10 | = | 9,998) | ÷ | 9,098) |
| Sep 30, 2020 | 1.22 | = | 10,053) | ÷ | 8,248) |
| Sep 30, 2019 | 1.37 | = | 12,393) | ÷ | 9,070) |
| Sep 30, 2018 | 1.05 | = | 11,823) | ÷ | 11,250) |
| Sep 30, 2017 | 1.04 | = | 12,292) | ÷ | 11,854) |
| Sep 30, 2016 | 1.05 | = | 17,109) | ÷ | 16,293) |
| Sep 30, 2015 | 1.06 | = | 11,093) | ÷ | 10,495) |
| Sep 30, 2014 | 1.12 | = | 13,107) | ÷ | 11,694) |
| Sep 30, 2013 | 1.13 | = | 13,698) | ÷ | 12,117) |
| Sep 30, 2012 | 1.17 | = | 12,673) | ÷ | 10,855) |
| Sep 30, 2011 | 1.11 | = | 12,015) | ÷ | 10,782) |
| Sep 30, 2010 | 1.07 | = | 10,652) | ÷ | 9,910) |
| Sep 30, 2009 | 1.13 | = | 9,826) | ÷ | 8,716) |
| Sep 30, 2008 | 1.09 | = | 10,676) | ÷ | 9,810) |
| Sep 30, 2007 | 1.10 | = | 10,872) | ÷ | 9,920) |
| Sep 30, 2006 | 1.14 | = | 9,264) | ÷ | 8,146) |
| Sep 30, 2005 | 1.04 | = | 7,139) | ÷ | 6,841) |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
1 US$ in millions
The liquidity position remained remarkably consistent for the majority of the analyzed period. Between 2005 and 2018, the current ratio fluctuated within a narrow band, typically remaining between 1.04 and 1.17, indicating a sustained approach to managing short-term obligations relative to liquid assets.
- Balance Sheet Expansion and Stability
- A significant expansion of the balance sheet occurred in 2016, where current assets peaked at 17.1 billion US$ and current liabilities reached 16.3 billion US$. Despite this substantial increase in volume, the current ratio remained stable at 1.05, suggesting that the increase in obligations was proportionally matched by liquid assets.
- Peak Liquidity Period
- The highest level of short-term liquidity was recorded in 2019, with the current ratio reaching 1.37. This peak was primarily driven by a reduction in current liabilities to 9.1 billion US$ while current assets remained elevated at 12.4 billion US$, representing a temporary shift toward a more conservative liquidity posture.
- Recent Liquidity Contraction
- A sequential decline in the current ratio is observed from 2020 through 2023. The ratio decreased from 1.22 in 2020 to 0.97 in 2023. This trend culminates in the first instance within the analyzed timeframe where current liabilities (11.1 billion US$) exceeded current assets (10.7 billion US$), indicating a tightening of the working capital position.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
Johnson Controls International plc, current ratio, long-term trends, comparison to competitors
| Johnson Controls International plc | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|---|
| Sep 30, 2023 | 0.97 | 1.14 | 1.35 | 1.51 | 1.18 | 1.27 | 1.21 | 1.04 |
| Sep 30, 2022 | 1.04 | 1.22 | 1.39 | 1.38 | 1.16 | 1.25 | 1.32 | 1.09 |
| Sep 30, 2021 | 1.10 | 1.33 | 1.46 | 1.04 | 1.28 | 1.30 | 1.42 | 1.19 |
| Sep 30, 2020 | 1.22 | 1.39 | 1.53 | 1.56 | 1.58 | 1.47 | 1.39 | 1.21 |
| Sep 30, 2019 | 1.37 | 1.05 | 1.47 | 1.70 | 1.16 | 1.34 | 1.22 | 1.08 |
| Sep 30, 2018 | 1.05 | 1.08 | 1.37 | 1.47 | — | 1.29 | 1.12 | 1.13 |
| Sep 30, 2017 | 1.04 | 1.16 | 1.35 | 1.64 | — | 1.38 | 1.38 | 1.35 |
| Sep 30, 2016 | 1.05 | 1.25 | 1.22 | 1.27 | — | 1.41 | 1.20 | 1.30 |
| Sep 30, 2015 | 1.06 | 1.35 | 1.31 | 1.43 | — | 1.09 | 1.15 | 1.18 |
| Sep 30, 2014 | 1.12 | 1.20 | 1.39 | 1.51 | — | 1.50 | 1.11 | 1.30 |
| Sep 30, 2013 | 1.13 | 1.26 | 1.40 | 1.78 | — | 1.49 | 1.20 | 1.29 |
| Sep 30, 2012 | 1.17 | 1.27 | 1.43 | 1.44 | — | 1.35 | 1.14 | 1.24 |
| Sep 30, 2011 | 1.11 | 1.21 | 1.33 | 1.60 | — | 1.31 | 1.16 | 1.38 |
| Sep 30, 2010 | 1.07 | 1.15 | 1.44 | 1.70 | — | 1.28 | 1.15 | 1.33 |
| Sep 30, 2009 | 1.13 | 1.07 | 1.39 | 1.68 | — | 1.25 | 1.17 | 1.29 |
| Sep 30, 2008 | 1.09 | 0.84 | 1.21 | 1.28 | — | 1.08 | 1.01 | 1.24 |
| Sep 30, 2007 | 1.10 | 0.86 | 1.15 | 1.30 | — | 1.15 | 1.11 | 1.26 |
| Sep 30, 2006 | 1.14 | 0.77 | 1.20 | 1.29 | — | 1.21 | 1.06 | 1.24 |
| Sep 30, 2005 | 1.04 | 0.78 | 1.19 | 1.21 | — | 1.15 | 1.12 | 1.12 |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Sector (Capital Goods)
Johnson Controls International plc, current ratio, long-term trends, comparison to sector (capital goods)
| Johnson Controls International plc | Capital Goods | |
|---|---|---|
| Sep 30, 2023 | 0.97 | 1.18 |
| Sep 30, 2022 | 1.04 | 1.22 |
| Sep 30, 2021 | 1.10 | 1.31 |
| Sep 30, 2020 | 1.22 | 1.43 |
| Sep 30, 2019 | 1.37 | 1.17 |
| Sep 30, 2018 | 1.05 | 1.17 |
| Sep 30, 2017 | 1.04 | 1.29 |
| Sep 30, 2016 | 1.05 | 1.27 |
| Sep 30, 2015 | 1.06 | 1.26 |
| Sep 30, 2014 | 1.12 | 1.29 |
| Sep 30, 2013 | 1.13 | 1.34 |
| Sep 30, 2012 | 1.17 | 1.31 |
| Sep 30, 2011 | 1.11 | 1.29 |
| Sep 30, 2010 | 1.07 | 1.28 |
| Sep 30, 2009 | 1.13 | 1.23 |
| Sep 30, 2008 | 1.09 | 1.07 |
| Sep 30, 2007 | 1.10 | 1.08 |
| Sep 30, 2006 | 1.14 | 1.05 |
| Sep 30, 2005 | 1.04 | 1.03 |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Industry (Industrials)
Johnson Controls International plc, current ratio, long-term trends, comparison to industry (industrials)
| Johnson Controls International plc | Industrials | |
|---|---|---|
| Sep 30, 2023 | 0.97 | 1.16 |
| Sep 30, 2022 | 1.04 | 1.20 |
| Sep 30, 2021 | 1.10 | 1.29 |
| Sep 30, 2020 | 1.22 | 1.41 |
| Sep 30, 2019 | 1.37 | 1.16 |
| Sep 30, 2018 | 1.05 | 1.13 |
| Sep 30, 2017 | 1.04 | 1.24 |
| Sep 30, 2016 | 1.05 | 1.22 |
| Sep 30, 2015 | 1.06 | 1.24 |
| Sep 30, 2014 | 1.12 | 1.26 |
| Sep 30, 2013 | 1.13 | 1.33 |
| Sep 30, 2012 | 1.17 | 1.30 |
| Sep 30, 2011 | 1.11 | 1.30 |
| Sep 30, 2010 | 1.07 | 1.28 |
| Sep 30, 2009 | 1.13 | 1.23 |
| Sep 30, 2008 | 1.09 | 1.06 |
| Sep 30, 2007 | 1.10 | 1.07 |
| Sep 30, 2006 | 1.14 | 1.05 |
| Sep 30, 2005 | 1.04 | 1.05 |
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).