Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Amgen Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
The liquidity profile is characterized by a period of significant volatility between 2022 and 2024, featuring a substantial surge in liquidity metrics during the first three quarters of 2023, followed by a return to lower, more stable levels through the first half of 2026.
- Current Ratio
- The current ratio remained relatively stable between 1.41 and 1.68 throughout 2022 before experiencing a sharp increase to a peak of 3.14 in March 2023. This elevated state persisted through September 2023, reaching 2.86, before a rapid decline began in December 2023. From March 2024 onward, the ratio stabilized within a tighter range of 1.14 to 1.42, indicating a consistent ability to cover short-term obligations with current assets.
- Quick Ratio
- The quick ratio followed a trajectory nearly identical to the current ratio, peaking at 2.62 in March 2023. Prior to this spike, values fluctuated between 0.90 and 1.17. Following the normalization period in late 2023, the ratio remained predominantly below 1.0, fluctuating between 0.73 and 0.95. This suggests that a portion of the current assets consists of less liquid components, such as inventory, which are not included in this metric.
- Cash Ratio
- The cash ratio exhibited the most pronounced variance, rising from a range of 0.51 to 0.80 in 2022 to a peak of 2.22 in March 2023. After this peak, the ratio corrected sharply to 0.60 by December 2023. For the period spanning 2024 through 2026, the cash ratio remained between 0.36 and 0.55, reflecting a strategic shift or a reallocation of cash reserves following the 2023 peak.
The alignment of the peaks and troughs across all three ratios indicates a temporary and significant influx of highly liquid assets in early 2023. The subsequent convergence toward lower levels suggests a return to a normalized operational liquidity baseline, where the company maintains a current ratio above 1.0 but relies on non-cash current assets to meet a portion of its immediate liabilities.
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Current Ratio
Amgen Inc., current ratio calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Current assets | 34,961) | 31,475) | 29,057) | 27,885) | 26,734) | 26,929) | 29,030) | 26,766) | 27,206) | 28,029) | 30,332) | 48,477) | 47,380) | 44,703) | 22,186) | 24,062) | 19,322) | 18,520) | ||||||
| Current liabilities | 25,502) | 24,955) | 25,489) | 21,791) | 20,476) | 23,008) | 23,099) | 20,312) | 21,517) | 19,714) | 18,392) | 16,954) | 17,097) | 14,215) | 15,687) | 14,331) | 12,618) | 12,886) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Current ratio1 | 1.37 | 1.26 | 1.14 | 1.28 | 1.31 | 1.17 | 1.26 | 1.32 | 1.26 | 1.42 | 1.65 | 2.86 | 2.77 | 3.14 | 1.41 | 1.68 | 1.53 | 1.44 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||
| AbbVie Inc. | 0.81 | 0.80 | 0.67 | 0.72 | 0.74 | 0.76 | 0.66 | 0.65 | 0.81 | 0.94 | 0.87 | 0.96 | 0.89 | 0.96 | 0.96 | 0.93 | 0.84 | 0.82 | ||||||
| Bristol-Myers Squibb Co. | 1.53 | 1.42 | 1.26 | 1.27 | 1.21 | 1.28 | 1.25 | 1.24 | 1.16 | 1.11 | 1.43 | 1.18 | 1.39 | 1.42 | 1.25 | 1.42 | 1.44 | 1.32 | ||||||
| Danaher Corp. | 1.65 | 1.87 | 1.87 | 1.52 | 1.62 | 1.43 | 1.40 | 1.37 | 1.43 | 1.85 | 1.68 | 2.26 | 2.08 | 1.89 | 1.89 | 1.78 | 1.75 | 1.68 | ||||||
| Eli Lilly & Co. | 1.35 | 1.50 | 1.58 | 1.55 | 1.28 | 1.37 | 1.15 | 1.27 | 1.11 | 1.35 | 0.94 | 1.05 | 1.13 | 1.30 | 1.05 | 1.13 | 1.10 | 1.27 | ||||||
| Gilead Sciences Inc. | 1.27 | 1.97 | 1.55 | 1.45 | 1.32 | 1.37 | 1.60 | 1.26 | 1.14 | 1.08 | 1.43 | 1.34 | 1.02 | 1.28 | 1.29 | 1.30 | 1.43 | 1.48 | ||||||
| Johnson & Johnson | 1.09 | 1.03 | 1.03 | 1.07 | 1.01 | 1.26 | 1.11 | 1.03 | 1.07 | 1.17 | 1.16 | 1.21 | 1.12 | 1.07 | 0.99 | 1.43 | 1.42 | 1.39 | ||||||
| Merck & Co. Inc. | 1.32 | 1.30 | 1.54 | 1.66 | 1.42 | 1.41 | 1.36 | 1.36 | 1.47 | 1.25 | 1.25 | 1.38 | 1.28 | 1.44 | 1.47 | 1.46 | 1.39 | 1.40 | ||||||
| Pfizer Inc. | 1.27 | 1.25 | 1.16 | 1.28 | 1.16 | 1.26 | 1.17 | 1.00 | 0.86 | 1.05 | 0.91 | 2.38 | 2.12 | 1.37 | 1.22 | 1.59 | 1.42 | 1.39 | ||||||
| Regeneron Pharmaceuticals Inc. | 3.34 | 3.57 | 4.13 | 4.06 | 4.60 | 4.93 | 4.73 | 5.28 | 5.44 | 5.27 | 5.69 | 5.18 | 5.45 | 5.45 | 5.06 | 5.36 | 5.12 | 4.76 | ||||||
| Thermo Fisher Scientific Inc. | 1.55 | 1.53 | 1.89 | 1.50 | 1.93 | 1.77 | 1.66 | 1.63 | 1.72 | 1.70 | 1.75 | 1.63 | 1.42 | 1.27 | 1.48 | 1.74 | 1.65 | 1.56 | ||||||
| Vertex Pharmaceuticals Inc. | 3.19 | 3.02 | 2.90 | 2.36 | 2.52 | 2.65 | 2.69 | 2.47 | 2.52 | 3.50 | 3.99 | 4.08 | 4.14 | 4.28 | 4.83 | 4.70 | 4.50 | 4.75 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Q2 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 34,961 ÷ 25,502 = 1.37
2 Click competitor name to see calculations.
The liquidity position of the entity exhibits significant volatility between early 2022 and mid-2026, characterized by a period of extreme liquidity followed by a gradual normalization toward a lower, yet stable, baseline. Throughout the observed period, the entity maintained a current ratio above 1.0, indicating a consistent ability to cover short-term obligations with short-term assets.
- Asset and Liability Trends
- Current assets experienced a substantial surge beginning in March 2023, peaking at 48,477 million US$ in September 2023, compared to 18,520 million US$ in March 2022. This expansion was followed by a correction in December 2023, after which assets stabilized between approximately 26,000 million US$ and 35,000 million US$. Concurrently, current liabilities demonstrated a steady upward trajectory, increasing from 12,886 million US$ in March 2022 to 25,502 million US$ by June 2026, reflecting a growing volume of short-term obligations.
- Current Ratio Analysis
- The current ratio fluctuated through three distinct phases. The first phase (March 2022 to December 2022) showed stability between 1.41 and 1.68. The second phase (March 2023 to September 2023) saw a sharp escalation, with the ratio peaking at 3.14, signaling an oversized liquidity cushion. The final phase (December 2023 to June 2026) represents a period of compression, where the ratio trended downward to a low of 1.14 in December 2025 before slightly recovering to 1.37 by June 2026.
- Liquidity Interpretation
- The dramatic spike in the current ratio during 2023 suggests a temporary and significant accumulation of liquid assets. The subsequent decline and stabilization between 1.14 and 1.42 indicate a more optimized use of working capital or the deployment of excess cash. The persistent increase in current liabilities has placed downward pressure on the ratio, yet the entity continues to operate with a positive net working capital position.
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Quick Ratio
Amgen Inc., quick ratio calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Cash and cash equivalents | 13,989) | 12,038) | 9,129) | 9,445) | 8,028) | 8,810) | 11,973) | 9,011) | 9,301) | 9,708) | 10,944) | 34,741) | 34,248) | 31,560) | 7,629) | 9,502) | 5,203) | 6,528) | ||||||
| Marketable securities | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | 1) | 1,676) | 1,976) | 1,980) | 16) | ||||||
| Trade receivables, net | 10,227) | 9,138) | 9,570) | 8,490) | 8,701) | 8,132) | 6,782) | 7,317) | 6,934) | 6,776) | 7,268) | 6,145) | 5,830) | 5,736) | 5,563) | 5,326) | 5,327) | 5,077) | ||||||
| Total quick assets | 24,216) | 21,176) | 18,699) | 17,935) | 16,729) | 16,942) | 18,755) | 16,328) | 16,235) | 16,484) | 18,212) | 40,886) | 40,078) | 37,297) | 14,868) | 16,804) | 12,510) | 11,621) | ||||||
| Current liabilities | 25,502) | 24,955) | 25,489) | 21,791) | 20,476) | 23,008) | 23,099) | 20,312) | 21,517) | 19,714) | 18,392) | 16,954) | 17,097) | 14,215) | 15,687) | 14,331) | 12,618) | 12,886) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Quick ratio1 | 0.95 | 0.85 | 0.73 | 0.82 | 0.82 | 0.74 | 0.81 | 0.80 | 0.75 | 0.84 | 0.99 | 2.41 | 2.34 | 2.62 | 0.95 | 1.17 | 0.99 | 0.90 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||
| AbbVie Inc. | 0.49 | 0.52 | 0.41 | 0.47 | 0.48 | 0.48 | 0.42 | 0.43 | 0.59 | 0.72 | 0.63 | 0.71 | 0.63 | 0.66 | 0.69 | 0.69 | 0.57 | 0.52 | ||||||
| Bristol-Myers Squibb Co. | 1.16 | 1.04 | 0.94 | 0.99 | 0.91 | 0.94 | 0.91 | 0.84 | 0.78 | 0.78 | 1.04 | 0.77 | 0.94 | 1.01 | 0.87 | 0.98 | 1.07 | 1.03 | ||||||
| Danaher Corp. | 1.03 | 1.28 | 1.25 | 0.84 | 0.96 | 0.83 | 0.83 | 0.84 | 0.85 | 1.34 | 1.18 | 1.76 | 1.52 | 1.34 | 1.30 | 1.19 | 1.13 | 1.08 | ||||||
| Eli Lilly & Co. | 0.68 | 0.72 | 0.78 | 0.73 | 0.53 | 0.57 | 0.58 | 0.62 | 0.60 | 0.67 | 0.52 | 0.58 | 0.63 | 0.79 | 0.62 | 0.70 | 0.66 | 0.77 | ||||||
| Gilead Sciences Inc. | 0.75 | 1.31 | 1.06 | 1.01 | 0.89 | 1.00 | 1.20 | 0.82 | 0.69 | 0.72 | 1.06 | 0.98 | 0.78 | 0.95 | 0.99 | 0.96 | 1.06 | 1.06 | ||||||
| Johnson & Johnson | 0.73 | 0.69 | 0.69 | 0.71 | 0.68 | 0.96 | 0.78 | 0.70 | 0.77 | 0.84 | 0.82 | 0.86 | 0.84 | 0.81 | 0.71 | 1.10 | 1.09 | 1.06 | ||||||
| Merck & Co. Inc. | 0.71 | 0.66 | 0.93 | 1.06 | 0.79 | 0.80 | 0.84 | 0.88 | 0.88 | 0.68 | 0.68 | 0.83 | 0.74 | 0.90 | 0.93 | 0.90 | 0.85 | 0.84 | ||||||
| Pfizer Inc. | 0.74 | 0.75 | 0.69 | 0.80 | 0.67 | 0.80 | 0.74 | 0.56 | 0.42 | 0.57 | 0.50 | 1.78 | 1.59 | 0.88 | 0.80 | 1.18 | 1.02 | 0.95 | ||||||
| Regeneron Pharmaceuticals Inc. | 2.63 | 2.84 | 3.28 | 3.19 | 3.57 | 3.90 | 3.86 | 4.34 | 4.43 | 4.40 | 4.82 | 4.31 | 4.53 | 4.54 | 4.16 | 4.37 | 4.20 | 3.95 | ||||||
| Thermo Fisher Scientific Inc. | 1.01 | 0.97 | 1.36 | 0.95 | 1.29 | 1.20 | 1.14 | 1.13 | 1.24 | 1.19 | 1.27 | 1.13 | 0.89 | 0.80 | 1.06 | 1.06 | 0.98 | 0.97 | ||||||
| Vertex Pharmaceuticals Inc. | 2.54 | 2.38 | 2.24 | 1.84 | 2.00 | 2.12 | 2.17 | 2.08 | 2.10 | 3.15 | 3.60 | 3.74 | 3.82 | 3.95 | 4.46 | 4.28 | 4.14 | 4.37 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Q2 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 24,216 ÷ 25,502 = 0.95
2 Click competitor name to see calculations.
The liquidity profile of the organization exhibited significant volatility between March 2022 and June 2026, characterized by a dramatic surge and subsequent contraction in the quick ratio. The overall trend indicates a transition from a balanced liquidity position to an exceptionally high liquidity state in 2023, followed by a sustained period where liquid assets were insufficient to cover current liabilities without the sale of inventory.
- Total Quick Assets Trends
- Quick assets remained relatively stable between $11.6 billion and $16.8 billion throughout 2022. A substantial increase occurred in the first three quarters of 2023, peaking at $40.8 billion in September 2023. This was followed by a sharp decline to $18.2 billion by December 2023. From 2024 through mid-2026, quick assets showed a gradual recovery, rising from a low of $16.2 billion in June 2024 to $24.2 billion by June 2026.
- Current Liabilities Progression
- Current liabilities demonstrated a consistent upward trajectory over the analyzed period. Starting at $12.8 billion in March 2022, liabilities increased steadily, surpassing $20 billion by June 2024 and reaching a peak of $25.5 billion by June 2026. This nearly twofold increase in short-term obligations exerted downward pressure on the liquidity ratios during the latter half of the period.
- Quick Ratio Analysis
- The quick ratio fluctuated around 1.0 during 2022, indicating a near-equilibrium between liquid assets and current liabilities. A period of extreme liquidity was observed from March 2023 to September 2023, with the ratio peaking at 2.62. Following this spike, the ratio dropped sharply to 0.99 in December 2023 and remained predominantly below 1.0 from March 2024 through December 2025, reaching a low of 0.73. A modest recovery is noted in the first half of 2026, with the ratio returning to 0.95 by June 2026.
The divergence between the growth of current liabilities and the fluctuation of quick assets suggests a shifting liquidity strategy or a response to significant capital events during 2023. The prolonged period of a quick ratio below 1.0 between 2024 and 2025 indicates a tighter liquidity position, although the upward trend in the final two quarters suggests a return toward a more stable liquidity baseline.
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Cash Ratio
Amgen Inc., cash ratio calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Cash and cash equivalents | 13,989) | 12,038) | 9,129) | 9,445) | 8,028) | 8,810) | 11,973) | 9,011) | 9,301) | 9,708) | 10,944) | 34,741) | 34,248) | 31,560) | 7,629) | 9,502) | 5,203) | 6,528) | ||||||
| Marketable securities | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | 1) | 1,676) | 1,976) | 1,980) | 16) | ||||||
| Total cash assets | 13,989) | 12,038) | 9,129) | 9,445) | 8,028) | 8,810) | 11,973) | 9,011) | 9,301) | 9,708) | 10,944) | 34,741) | 34,248) | 31,561) | 9,305) | 11,478) | 7,183) | 6,544) | ||||||
| Current liabilities | 25,502) | 24,955) | 25,489) | 21,791) | 20,476) | 23,008) | 23,099) | 20,312) | 21,517) | 19,714) | 18,392) | 16,954) | 17,097) | 14,215) | 15,687) | 14,331) | 12,618) | 12,886) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Cash ratio1 | 0.55 | 0.48 | 0.36 | 0.43 | 0.39 | 0.38 | 0.52 | 0.44 | 0.43 | 0.49 | 0.60 | 2.05 | 2.00 | 2.22 | 0.59 | 0.80 | 0.57 | 0.51 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||
| AbbVie Inc. | 0.16 | 0.22 | 0.12 | 0.14 | 0.16 | 0.14 | 0.14 | 0.17 | 0.31 | 0.44 | 0.34 | 0.38 | 0.27 | 0.24 | 0.31 | 0.36 | 0.25 | 0.19 | ||||||
| Bristol-Myers Squibb Co. | 0.59 | 0.55 | 0.46 | 0.59 | 0.49 | 0.49 | 0.46 | 0.36 | 0.29 | 0.37 | 0.55 | 0.33 | 0.43 | 0.49 | 0.42 | 0.48 | 0.63 | 0.66 | ||||||
| Danaher Corp. | 0.54 | 0.76 | 0.68 | 0.24 | 0.44 | 0.30 | 0.31 | 0.36 | 0.35 | 0.90 | 0.71 | 1.31 | 1.02 | 0.85 | 0.71 | 0.64 | 0.53 | 0.49 | ||||||
| Eli Lilly & Co. | 0.19 | 0.14 | 0.21 | 0.24 | 0.09 | 0.10 | 0.12 | 0.14 | 0.12 | 0.13 | 0.10 | 0.11 | 0.14 | 0.22 | 0.12 | 0.17 | 0.17 | 0.18 | ||||||
| Gilead Sciences Inc. | 0.29 | 0.81 | 0.65 | 0.60 | 0.47 | 0.64 | 0.83 | 0.43 | 0.26 | 0.36 | 0.64 | 0.57 | 0.48 | 0.56 | 0.57 | 0.54 | 0.61 | 0.62 | ||||||
| Johnson & Johnson | 0.38 | 0.38 | 0.37 | 0.36 | 0.35 | 0.68 | 0.49 | 0.39 | 0.47 | 0.54 | 0.50 | 0.53 | 0.53 | 0.54 | 0.42 | 0.75 | 0.73 | 0.70 | ||||||
| Merck & Co. Inc. | 0.26 | 0.21 | 0.51 | 0.64 | 0.33 | 0.37 | 0.48 | 0.49 | 0.44 | 0.22 | 0.28 | 0.38 | 0.27 | 0.45 | 0.54 | 0.49 | 0.44 | 0.40 | ||||||
| Pfizer Inc. | 0.36 | 0.38 | 0.37 | 0.41 | 0.35 | 0.48 | 0.48 | 0.23 | 0.16 | 0.29 | 0.27 | 1.42 | 1.29 | 0.55 | 0.54 | 0.82 | 0.70 | 0.61 | ||||||
| Regeneron Pharmaceuticals Inc. | 1.45 | 1.71 | 1.97 | 1.91 | 2.04 | 2.34 | 2.28 | 2.68 | 2.80 | 2.94 | 3.17 | 2.75 | 2.88 | 2.89 | 2.46 | 2.44 | 2.49 | 2.34 | ||||||
| Thermo Fisher Scientific Inc. | 0.27 | 0.22 | 0.67 | 0.24 | 0.50 | 0.45 | 0.42 | 0.46 | 0.60 | 0.52 | 0.58 | 0.43 | 0.22 | 0.22 | 0.50 | 0.26 | 0.17 | 0.23 | ||||||
| Vertex Pharmaceuticals Inc. | 1.99 | 1.87 | 1.71 | 1.40 | 1.54 | 1.64 | 1.72 | 1.64 | 1.63 | 2.68 | 3.16 | 3.31 | 3.35 | 3.44 | 3.93 | 3.74 | 3.62 | 3.78 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).
1 Q2 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 13,989 ÷ 25,502 = 0.55
2 Click competitor name to see calculations.
The liquidity profile of the organization exhibits significant volatility, characterized by a dramatic surge in cash reserves during 2023 followed by a period of contraction and a steady increase in short-term obligations.
- Cash Asset Volatility
- Total cash assets remained relatively stable between 6.5 billion and 11.5 billion US dollars throughout 2022. A substantial increase occurred in the first three quarters of 2023, with assets peaking at 34.7 billion US dollars in September 2023. This peak was followed by a sharp decline in December 2023 to 10.9 billion US dollars, after which cash levels fluctuated between approximately 8 billion and 14 billion US dollars through June 2026.
- Growth of Current Liabilities
- A consistent upward trend is observed in current liabilities. Starting at 12.9 billion US dollars in March 2022, obligations grew steadily to 25.5 billion US dollars by June 2026. This represents a nearly twofold increase in short-term liabilities over the analyzed period, indicating a growing volume of short-term financial commitments.
- Cash Ratio Dynamics
- The cash ratio mirrored the fluctuations in cash assets, starting at 0.51 in March 2022 and reaching a peak of 2.22 in March 2023. This period of high liquidity was short-lived, as the ratio dropped to 0.60 by December 2023. From 2024 through June 2026, the ratio remained suppressed, generally fluctuating between 0.36 and 0.55. The simultaneous decrease in cash assets relative to the steady climb in current liabilities resulted in a lower overall immediate liquidity position toward the end of the period compared to the 2023 peak.
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