Quick Ratio

A quick ratio of 0.23x means the company has only $0.23 in highly liquid assets (cash, marketable securities, receivables) for every $1 of current liabilities due within a year — a very thin buffer against short-term obligations.

This is far below the sector median of 0.72x, placing TAP in the 8th percentile among its peers, meaning 92% of similar companies have a stronger liquidity position. Over the last eight quarters the metric has been stable, though the year-over-year change is not available; the most recent quarter-over-quarter change shows a decline of 11.5% (from 0.26x to 0.23x). The combination of an already low quick ratio with a recent downward move suggests heightened short-term liquidity risk, as the company has less room to absorb unexpected cash demands. This metric directly supports the CAUTIOUS verdict — a weak liquidity level paired with a deteriorating trend reinforces concerns about financial flexibility.

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