Liquidity ratios measure the company ability to meet its short-term obligations.
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Liquidity Ratios (Summary)
Based on: 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30).
- Current Ratio
- The current ratio exhibits noticeable fluctuations throughout the examined periods. Initially, it showed a declining trend from 0.92 in April 2018 to a low of 0.48 in April 2021, indicating a reduction in short-term liquidity. Following that low point, the ratio recovered somewhat, climbing back to around 0.8 by October 2021 before experiencing another decline to approximately 0.62-0.64 in mid-2022. The ratio then improved steadily, reaching 0.84 by January 2023, but declined slightly towards 0.65 by October 2024. Overall, the current ratio demonstrates a tendency toward moderate liquidity with periods of both compression and recovery over time.
- Quick Ratio
- The quick ratio trends generally parallel those of the current ratio but remain consistently lower, reflecting the exclusion of inventory from liquid assets. Starting at 0.81 in April 2018, the ratio decreased steadily to a low near 0.4 around April 2021, indicating tightening in readily available assets to cover current liabilities. After this trough, a recovery trend occurred, with the quick ratio rising above 0.7 during late 2021 and early 2023. Similar to the current ratio, a minor decline was observed toward the end of the period, settling near 0.54-0.57 in late 2024. This pattern highlights fluctuations in liquidity with intermittent strengthening phases.
- Cash Ratio
- The cash ratio presents a more pronounced downward trend from 0.7 in April 2018 to a low of 0.29 by April 2021, reflecting a significant reduction in the most liquid assets relative to current liabilities. Following this decline, the cash ratio improved moderately to about 0.55 by October 2021, but then it again decreased gradually, stabilizing around 0.38 to 0.52 in the most recent periods, ending near 0.38 in October 2024. This suggests that the company’s cash and cash equivalents have generally diminished as a cushion against short-term obligations, although there was a temporary recovery during the middle of the time series.
Current Ratio
Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | Oct 31, 2018 | Jul 31, 2018 | Apr 30, 2018 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||||
Current ratio1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Current Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||||
Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
Fair Isaac Corp. | |||||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||||
Oracle Corp. | |||||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
Salesforce Inc. | |||||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
Synopsys Inc. | |||||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30).
1 Q3 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in liquidity as measured by current assets, current liabilities, and the current ratio.
- Current Assets
-
Current assets exhibit significant fluctuations over the observed periods. Beginning at 1,698 million USD in April 2018, the value experienced a decline through mid-2019, reaching a low near 1,422 million USD in April 2019. Subsequently, current assets recovered markedly, peaking at 2,764 million USD by January 2022, representing a considerable increase. After this peak, values showed some volatility but generally remained above 2,300 million USD, with minor declines and rises through mid-2024, ending near 2,899 million USD in October 2024.
- Current Liabilities
-
Current liabilities followed an upward trajectory throughout the period. Starting at 1,853 million USD in April 2018, liabilities steadily increased with some acceleration starting mid-2019, rising beyond 4,000 million USD by early 2024. This consistent increase in current liabilities indicates growing short-term obligations over the time span.
- Current Ratio
-
The current ratio, which reflects short-term liquidity and the capacity to meet current liabilities with current assets, remained below 1.0 for the entire period, indicating that current liabilities consistently exceeded current assets. The ratio started at 0.92 in April 2018, displaying a downward trend through late 2019, reaching lows near 0.48-0.50 in mid-2021, suggesting tighter liquidity conditions at that time. From early 2022 onward, the current ratio began to recover, reaching approximately 0.82 in January 2024, followed by a slight decline to around 0.65 by October 2024. This rebound suggests some improvement in liquidity but still reflects a relatively constrained short-term financial position.
Overall, the data indicates the company faced increasing current liabilities over the period, outpacing the growth in current assets. While current assets showed recovery periods, particularly after mid-2019, they did not consistently keep pace with liabilities, resulting in a persistently below-par current ratio. The lowest points in liquidity occurred around mid-2021, followed by a gradual strengthening, though short-term obligations continue to exceed short-term assets significantly.
Quick Ratio
Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | Oct 31, 2018 | Jul 31, 2018 | Apr 30, 2018 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||||||||
Marketable securities | |||||||||||||||||||||||||||||||||||
Accounts receivable, net | |||||||||||||||||||||||||||||||||||
Total quick assets | |||||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||||
Quick ratio1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||||
Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
Fair Isaac Corp. | |||||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||||
Oracle Corp. | |||||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
Salesforce Inc. | |||||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
Synopsys Inc. | |||||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30).
1 Q3 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Trends in Total Quick Assets
- Total quick assets demonstrated notable volatility over the observed periods. Initially, values hovered around the 1400 to 1500 million USD range until early 2019. A pronounced increase occurred in the period ending January 31, 2020, reaching a peak of 2496 million USD. This was followed by fluctuations, including a significant dip in April 2021 to 1249 million USD, before recovering again with peaks around 3033 million USD by early 2023. The later quarters show a modest downward adjustment but maintain levels above 2300 million USD, highlighting an overall resilient yet variable liquidity position.
- Current Liabilities
- Current liabilities largely exhibited an upward trend across the quarters, reflecting an increasing short-term obligation. Starting from 1853 million USD in April 2018, liabilities generally climbed with minor fluctuations, reaching a notable high of 4351 million USD in January 2024. This persistent increase suggests growing short-term financial commitments or operational expansion financed through current liabilities. Despite minor reductions in a few quarters, the overall trajectory remains upward.
- Quick Ratio Analysis
- The quick ratio consistently remained below 1.0 throughout the analyzed timeframe, indicating that quick assets were persistently insufficient to fully cover current liabilities. Ratios ranged from a low of 0.40 in April 2021 to a high of 0.81 in April 2018. The ratio generally decreased from 2018 through the first quarter of 2019, reflecting a weakening immediate liquidity position, followed by a partial recovery up to early 2021. Post-2021, the quick ratio again exhibited variability but stayed between 0.5 and 0.7, suggesting continued constrained liquidity despite some improvements.
- Overall Insights
- The data indicates that while the company’s quick assets experienced significant fluctuations with periodic strong increases, these were often outpaced by growing current liabilities. The persistent quick ratio below 1 highlights a structural liquidity risk over the analyzed periods. The upward trend in current liabilities alongside fluctuating quick assets suggests that the firm may be relying increasingly on short-term financing or operational liabilities, which could impact liquidity management. Monitoring trends in quick assets relative to liabilities remains critical to assess the company’s short-term financial health effectively.
Cash Ratio
Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | Oct 31, 2018 | Jul 31, 2018 | Apr 30, 2018 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||||||||
Marketable securities | |||||||||||||||||||||||||||||||||||
Total cash assets | |||||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||||
Cash ratio1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||||
Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
Fair Isaac Corp. | |||||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||||
Oracle Corp. | |||||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
Salesforce Inc. | |||||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
Synopsys Inc. | |||||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-K (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-Q (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30).
1 Q3 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The data reveals several noteworthy trends concerning liquidity and short-term financial health over the observed periods.
- Total Cash Assets
- Cash assets displayed notable fluctuations throughout the timeframe. Initially, there was a gradual decline from 1,293 million US dollars in April 2018 to a low point of 954 million in January 2019. Subsequently, cash assets recovered, reaching a peak of 1,857 million in January 2021. However, a sharp decrease was observed in April and July of 2021, dropping to 923 and 925 million, respectively. Following this dip, cash reserves generally trended upward again, peaking at 2,246 million in April 2024 before declining modestly toward the end of the period to 1,713 million in October 2024.
- Current Liabilities
- Current liabilities demonstrated a steady increase over time, beginning at 1,853 million in April 2018 and reaching 4,468 million by October 2024. The increase was relatively consistent, with some acceleration in growth from early 2020 onward. This rising liability trend indicates growing short-term obligations which may place pressure on liquidity if not offset by proportional asset growth.
- Cash Ratio
- The cash ratio, reflecting the ability to cover current liabilities with cash assets, exhibited a mostly downward trend with periods of partial recovery. Initially, the ratio declined from 0.70 in April 2018 to a trough of 0.29 in April 2021, indicating a decreased buffer of cash relative to short-term liabilities. After this low point, the ratio improved moderately to about 0.54 by July 2023 but declined again to 0.38 by October 2024, suggesting persistent challenges in maintaining optimal liquidity levels relative to obligations.
Overall, the interplay between increasing current liabilities and fluctuating cash assets resulted in a deteriorating cash ratio over the majority of the analyzed period, despite intermittent recoveries. This pattern highlights potential liquidity constraints requiring ongoing management attention to ensure operational flexibility and financial stability.