Liquidity Analysis
Quarterly Data

Difficulty: Beginner

Liquidity ratios measure the company's ability to meet its short-term obligations.


Ratios (Summary)

Procter & Gamble Co., liquidity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 Sep 30, 2012
Current ratio 0.80 0.83 0.91 0.94 0.91 0.88 0.89 0.89 1.09 1.10 1.09 1.13 1.13 1.00 0.99 0.97 0.91 0.94 0.88 0.89 0.79 0.80 0.89 0.98 0.97
Quick ratio 0.56 0.59 0.67 0.72 0.68 0.65 0.64 0.63 0.64 0.58 0.59 0.59 0.55 0.55 0.57 0.53 0.53 0.51 0.50 0.50 0.43 0.41 0.46 0.53 0.49
Cash ratio 0.39 0.42 0.51 0.57 0.52 0.50 0.49 0.47 0.49 0.43 0.44 0.45 0.40 0.39 0.41 0.36 0.34 0.32 0.30 0.28 0.23 0.20 0.21 0.25 0.21

Based on: 10-Q (filing date: 2018-10-19), 10-K (filing date: 2018-08-07), 10-Q (filing date: 2018-04-19), 10-Q (filing date: 2018-01-23), 10-Q (filing date: 2017-10-20), 10-K (filing date: 2017-08-07), 10-Q (filing date: 2017-04-26), 10-Q (filing date: 2017-01-20), 10-Q (filing date: 2016-10-25), 10-K (filing date: 2016-08-09), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-Q (filing date: 2015-10-23), 10-K (filing date: 2015-08-07), 10-Q (filing date: 2015-04-23), 10-Q (filing date: 2015-01-27), 10-Q (filing date: 2014-10-24), 10-K (filing date: 2014-08-08), 10-Q (filing date: 2014-04-23), 10-Q (filing date: 2014-01-24), 10-Q (filing date: 2013-10-25), 10-K (filing date: 2013-08-08), 10-Q (filing date: 2013-04-24), 10-Q (filing date: 2013-01-25), 10-Q (filing date: 2012-10-25).

Ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Procter & Gamble Co.'s current ratio deteriorated from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Procter & Gamble Co.'s quick ratio deteriorated from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Procter & Gamble Co.'s cash ratio deteriorated from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Current Ratio

Procter & Gamble Co., current ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 Sep 30, 2012
Selected Financial Data (USD $ in millions)
Current assets 23,346  23,320  27,960  31,214  28,096  26,494  25,885  25,572  35,171  33,782  34,317  36,347  35,620  29,646  31,562  33,178  29,107  31,617  28,126  27,467  26,322  23,990  24,298  25,601  24,124 
Current liabilities 29,220  28,237  30,711  33,107  30,724  30,210  29,082  28,891  32,401  30,770  31,357  32,053  31,567  29,790  31,881  34,152  32,071  33,726  32,118  30,727  33,217  30,037  27,412  26,230  24,898 
Ratio
Current ratio1 0.80 0.83 0.91 0.94 0.91 0.88 0.89 0.89 1.09 1.10 1.09 1.13 1.13 1.00 0.99 0.97 0.91 0.94 0.88 0.89 0.79 0.80 0.89 0.98 0.97

Based on: 10-Q (filing date: 2018-10-19), 10-K (filing date: 2018-08-07), 10-Q (filing date: 2018-04-19), 10-Q (filing date: 2018-01-23), 10-Q (filing date: 2017-10-20), 10-K (filing date: 2017-08-07), 10-Q (filing date: 2017-04-26), 10-Q (filing date: 2017-01-20), 10-Q (filing date: 2016-10-25), 10-K (filing date: 2016-08-09), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-Q (filing date: 2015-10-23), 10-K (filing date: 2015-08-07), 10-Q (filing date: 2015-04-23), 10-Q (filing date: 2015-01-27), 10-Q (filing date: 2014-10-24), 10-K (filing date: 2014-08-08), 10-Q (filing date: 2014-04-23), 10-Q (filing date: 2014-01-24), 10-Q (filing date: 2013-10-25), 10-K (filing date: 2013-08-08), 10-Q (filing date: 2013-04-24), 10-Q (filing date: 2013-01-25), 10-Q (filing date: 2012-10-25).

Q1 2019 Calculations

1 Current ratio = Current assets ÷ Current liabilities
= 23,346 ÷ 29,220 = 0.80

Ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Procter & Gamble Co.'s current ratio deteriorated from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Quick Ratio

Procter & Gamble Co., quick ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 Sep 30, 2012
Selected Financial Data (USD $ in millions)
Cash and cash equivalents 2,545  2,569  5,326  7,432  5,024  5,569  5,817  6,051  7,456  7,102  7,895  9,403  7,705  6,845  8,374  8,204  7,486  8,558  8,182  6,929  6,122  5,947  5,876  6,643  5,302 
Restricted cash –  –  –  –  –  –  –  –  1,870  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  – 
Available-for-sale investment securities 8,708  9,281  10,208  11,326  10,983  9,568  8,510  7,403  6,615  6,246  5,924  4,874  4,901  4,767  4,786  4,047  3,360  2,128  1,570  1,574  1,580  –  –  –  – 
Accounts receivable 5,035  4,686  5,149  5,182  4,942  4,594  4,358  4,729  4,713  4,373  4,591  4,721  4,724  4,861  4,990  5,802  6,197  6,386  6,353  6,911  6,555  6,508  6,669  7,183  6,993 
Total quick assets 16,288  16,536  20,683  23,940  20,949  19,731  18,685  18,183  20,654  17,721  18,410  18,998  17,330  16,473  18,150  18,053  17,043  17,072  16,105  15,414  14,257  12,455  12,545  13,826  12,295 
Current liabilities 29,220  28,237  30,711  33,107  30,724  30,210  29,082  28,891  32,401  30,770  31,357  32,053  31,567  29,790  31,881  34,152  32,071  33,726  32,118  30,727  33,217  30,037  27,412  26,230  24,898 
Ratio
Quick ratio1 0.56 0.59 0.67 0.72 0.68 0.65 0.64 0.63 0.64 0.58 0.59 0.59 0.55 0.55 0.57 0.53 0.53 0.51 0.50 0.50 0.43 0.41 0.46 0.53 0.49

Based on: 10-Q (filing date: 2018-10-19), 10-K (filing date: 2018-08-07), 10-Q (filing date: 2018-04-19), 10-Q (filing date: 2018-01-23), 10-Q (filing date: 2017-10-20), 10-K (filing date: 2017-08-07), 10-Q (filing date: 2017-04-26), 10-Q (filing date: 2017-01-20), 10-Q (filing date: 2016-10-25), 10-K (filing date: 2016-08-09), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-Q (filing date: 2015-10-23), 10-K (filing date: 2015-08-07), 10-Q (filing date: 2015-04-23), 10-Q (filing date: 2015-01-27), 10-Q (filing date: 2014-10-24), 10-K (filing date: 2014-08-08), 10-Q (filing date: 2014-04-23), 10-Q (filing date: 2014-01-24), 10-Q (filing date: 2013-10-25), 10-K (filing date: 2013-08-08), 10-Q (filing date: 2013-04-24), 10-Q (filing date: 2013-01-25), 10-Q (filing date: 2012-10-25).

Q1 2019 Calculations

1 Quick ratio = Total quick assets ÷ Current liabilities
= 16,288 ÷ 29,220 = 0.56

Ratio Description The company
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Procter & Gamble Co.'s quick ratio deteriorated from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Cash Ratio

Procter & Gamble Co., cash ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 Sep 30, 2012
Selected Financial Data (USD $ in millions)
Cash and cash equivalents 2,545  2,569  5,326  7,432  5,024  5,569  5,817  6,051  7,456  7,102  7,895  9,403  7,705  6,845  8,374  8,204  7,486  8,558  8,182  6,929  6,122  5,947  5,876  6,643  5,302 
Restricted cash –  –  –  –  –  –  –  –  1,870  –  –  –  –  –  –  –  –  –  –  –  –  –  –  –  – 
Available-for-sale investment securities 8,708  9,281  10,208  11,326  10,983  9,568  8,510  7,403  6,615  6,246  5,924  4,874  4,901  4,767  4,786  4,047  3,360  2,128  1,570  1,574  1,580  –  –  –  – 
Total cash assets 11,253  11,850  15,534  18,758  16,007  15,137  14,327  13,454  15,941  13,348  13,819  14,277  12,606  11,612  13,160  12,251  10,846  10,686  9,752  8,503  7,702  5,947  5,876  6,643  5,302 
Current liabilities 29,220  28,237  30,711  33,107  30,724  30,210  29,082  28,891  32,401  30,770  31,357  32,053  31,567  29,790  31,881  34,152  32,071  33,726  32,118  30,727  33,217  30,037  27,412  26,230  24,898 
Ratio
Cash ratio1 0.39 0.42 0.51 0.57 0.52 0.50 0.49 0.47 0.49 0.43 0.44 0.45 0.40 0.39 0.41 0.36 0.34 0.32 0.30 0.28 0.23 0.20 0.21 0.25 0.21

Based on: 10-Q (filing date: 2018-10-19), 10-K (filing date: 2018-08-07), 10-Q (filing date: 2018-04-19), 10-Q (filing date: 2018-01-23), 10-Q (filing date: 2017-10-20), 10-K (filing date: 2017-08-07), 10-Q (filing date: 2017-04-26), 10-Q (filing date: 2017-01-20), 10-Q (filing date: 2016-10-25), 10-K (filing date: 2016-08-09), 10-Q (filing date: 2016-04-26), 10-Q (filing date: 2016-01-26), 10-Q (filing date: 2015-10-23), 10-K (filing date: 2015-08-07), 10-Q (filing date: 2015-04-23), 10-Q (filing date: 2015-01-27), 10-Q (filing date: 2014-10-24), 10-K (filing date: 2014-08-08), 10-Q (filing date: 2014-04-23), 10-Q (filing date: 2014-01-24), 10-Q (filing date: 2013-10-25), 10-K (filing date: 2013-08-08), 10-Q (filing date: 2013-04-24), 10-Q (filing date: 2013-01-25), 10-Q (filing date: 2012-10-25).

Q1 2019 Calculations

1 Cash ratio = Total cash assets ÷ Current liabilities
= 11,253 ÷ 29,220 = 0.39

Ratio Description The company
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Procter & Gamble Co.'s cash ratio deteriorated from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.