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EQR (Equity Residential) Quick Ratio : 0.23 (As of Jun. 2024)


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What is Equity Residential Quick Ratio?

The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. Equity Residential's quick ratio for the quarter that ended in Jun. 2024 was 0.23.

Equity Residential has a quick ratio of 0.23. It indicates that the company cannot currently fully pay back its current liabilities.

The historical rank and industry rank for Equity Residential's Quick Ratio or its related term are showing as below:

EQR' s Quick Ratio Range Over the Past 10 Years
Min: 0.08   Med: 0.21   Max: 1.46
Current: 0.23

During the past 13 years, Equity Residential's highest Quick Ratio was 1.46. The lowest was 0.08. And the median was 0.21.

EQR's Quick Ratio is ranked worse than
86.32% of 760 companies
in the REITs industry
Industry Median: 0.94 vs EQR: 0.23

Equity Residential Quick Ratio Historical Data

The historical data trend for Equity Residential's Quick Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Equity Residential Quick Ratio Chart

Equity Residential Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Quick Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.08 0.12 0.50 0.26 0.17

Equity Residential Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Quick Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.13 0.17 0.29 0.23 0.10

Competitive Comparison of Equity Residential's Quick Ratio

For the REIT - Residential subindustry, Equity Residential's Quick Ratio, along with its competitors' market caps and Quick Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Equity Residential's Quick Ratio Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Equity Residential's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Equity Residential's Quick Ratio falls into.



Equity Residential Quick Ratio Calculation

The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.

Equity Residential's Quick Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Quick Ratio (A: Dec. 2023 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(139.995-0)/838.508
=0.17

Equity Residential's Quick Ratio for the quarter that ended in Jun. 2024 is calculated as

Quick Ratio (Q: Jun. 2024 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(138.421-0)/614.55
=0.23

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Equity Residential  (NYSE:EQR) Quick Ratio Explanation

The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.

In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.

The higher the quick ratio, the better the company's liquidity position.


Equity Residential Quick Ratio Related Terms

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Equity Residential Business Description

Traded in Other Exchanges
Address
Two North Riverside Plaza, Chicago, IL, USA, 60606
Equity Residential owns a portfolio of 299 apartment communities with around 80,000 units and is developing three additional properties with 977 units. The company focuses on owning large, high-quality properties in the urban and suburban submarkets of Southern California, San Francisco, Washington, D.C., New York, Seattle, and Boston.
Executives
Catherine Carraway officer: Executive Vice President TWO NORTH RIVERSIDE PLAZA, SUITE 500, CHICAGO IL 60606
Alexander Brackenridge officer: Executive Vice President TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Scott Fenster officer: EVP & General Counsel TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Ian Kaufman officer: Chief Accounting Officer C/O EQUITY RESIDENTIAL, TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Michael L Manelis officer: Executive Vice President TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Robert Garechana officer: EVP & Chief Financial Officer TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Linda Bynoe director 980 N. MICHIGAN AVE, SUITE 1400, CHICAGO IL 60611
Mary Kay Haben director C/O EQUITY RESIDENTIAL, TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
David J Neithercut director C/O EQUITY RESIDENTIAL, TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Mark S Shapiro director C/O RED ZONE LLC, 21300 REDSKIN PARK DRIVE, ASHBURN VA 20147
Christa L Sorenson officer: Executive Vice President TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO IL 60606
Angela M Aman director RETAIL PROPERTIES OF AMERICA, INC., 2021 SPRING ROAD, SUITE 200, OAK BROOK IL 60523
Duckworth Connie K director EIGHT WINGS ENTERPRISES, 77 STONE AGTE LANE, LAKE FOREST IL 60045
Bradley A Keywell director
John E Neal director 2020 CALAMOS COURT, NAPERVILLE X1 60563