Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Broadcom Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-08-03), 10-Q (reporting date: 2025-05-04), 10-Q (reporting date: 2025-02-02), 10-K (reporting date: 2024-11-03), 10-Q (reporting date: 2024-08-04), 10-Q (reporting date: 2024-05-05), 10-Q (reporting date: 2024-02-04), 10-K (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-29), 10-K (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-Q (reporting date: 2022-01-30), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-Q (reporting date: 2020-02-02), 10-K (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-Q (reporting date: 2019-02-03).
The analysis of the liquidity ratios over the reported periods reveals several notable trends and shifts.
- Current Ratio
- The current ratio exhibited a general increasing trend from early 2019, starting at 1.27 and rising steadily to peak around 2.82 by October 2023. However, from that point onward, a marked decline is observed, with the ratio falling sharply to a low of 1.00 in February 2025 before slightly recovering to 1.50 by August 2025. This pattern indicates initially strengthening short-term liquidity followed by a substantial reduction in current assets relative to current liabilities more recently.
- Quick Ratio
- The quick ratio movement broadly parallels that of the current ratio until late 2023. Starting at 1.05 in early 2019, it increased gradually to reach 2.34 by October 2023. Subsequently, a steep decrease occurs, reaching a trough of 0.68 in February 2025, with a modest rebound to 1.03 by August 2025. This suggests that the most liquid current assets (excluding inventory) similarly declined in proportion to current liabilities in the latter periods, reflecting a tightening liquidity position.
- Cash Ratio
- The cash ratio shows a similar upward trend from 0.61 in early 2019 to a peak of 1.92 in October 2023, indicating a growing cash and cash-equivalent buffer relative to current liabilities during this timeframe. Post-October 2023, the ratio declines sharply to 0.45 by February 2025, followed by a modest recovery to 0.64 as of August 2025. This decrease indicates a significant reduction in immediate cash reserves relative to short-term obligations in the most recent periods.
Overall, liquidity indicators improved significantly over roughly five years, suggesting enhanced short-term financial stability and increased ability to meet current liabilities using both total and quick assets, including cash. Nevertheless, the sharp declines starting in late 2023 point to a rapid contraction in liquidity, potentially increasing financial risk or reflecting changes in working capital management or operational cash flows. The partial recovery by mid-2025 may indicate a response to this tightening position, but the ratios still remain below prior peak levels, highlighting a current period of relative liquidity constraint compared to recent history.
Current Ratio
Broadcom Inc., current ratio calculation (quarterly data)
| Aug 3, 2025 | May 4, 2025 | Feb 2, 2025 | Nov 3, 2024 | Aug 4, 2024 | May 5, 2024 | Feb 4, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | Feb 3, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Current assets | 24,998) | 22,181) | 20,990) | 19,595) | 19,947) | 25,302) | 27,192) | 20,847) | 18,333) | 17,871) | 18,836) | 18,504) | 15,561) | 14,810) | 15,341) | 16,586) | 15,636) | 14,245) | 14,300) | 11,895) | 13,681) | 14,222) | 12,109) | 9,917) | 10,898) | 10,677) | 10,604) | ||||||||
| Current liabilities | 16,704) | 20,597) | 20,910) | 16,697) | 19,221) | 20,171) | 20,369) | 7,405) | 7,345) | 7,511) | 7,483) | 7,052) | 6,702) | 6,910) | 6,287) | 6,281) | 6,501) | 6,436) | 6,694) | 6,371) | 6,702) | 6,601) | 7,739) | 6,899) | 8,282) | 8,503) | 8,349) | ||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||||
| Current ratio1 | 1.50 | 1.08 | 1.00 | 1.17 | 1.04 | 1.25 | 1.33 | 2.82 | 2.50 | 2.38 | 2.52 | 2.62 | 2.32 | 2.14 | 2.44 | 2.64 | 2.41 | 2.21 | 2.14 | 1.87 | 2.04 | 2.15 | 1.56 | 1.44 | 1.32 | 1.26 | 1.27 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | 2.49 | 2.80 | 2.62 | 2.50 | 2.82 | 2.64 | 2.51 | 2.19 | 2.18 | 2.38 | 2.36 | 2.16 | 2.44 | 2.40 | 2.02 | 2.24 | 2.70 | 2.51 | 2.54 | 2.28 | 2.10 | 2.21 | — | — | — | — | ||||||||
| Analog Devices Inc. | 2.32 | 2.08 | 1.93 | 1.84 | 1.69 | 1.58 | 1.51 | 1.37 | 1.71 | 1.79 | 2.12 | 2.02 | 1.92 | 1.99 | 2.09 | 1.94 | 1.11 | 1.05 | 1.57 | 1.84 | 1.47 | 1.30 | 1.08 | 1.32 | 1.35 | 1.52 | 2.34 | ||||||||
| Applied Materials Inc. | 2.50 | 2.46 | 2.68 | 2.51 | 2.86 | 2.80 | 2.71 | 2.60 | 2.30 | 2.26 | 2.31 | 2.16 | 2.26 | 2.29 | 2.51 | 2.54 | 2.98 | 3.10 | 3.17 | 3.00 | 2.86 | 2.67 | 2.36 | 2.30 | 2.65 | 2.79 | 2.72 | ||||||||
| Intel Corp. | — | 1.24 | 1.31 | 1.33 | 1.31 | 1.59 | 1.57 | 1.54 | 1.53 | 1.60 | 1.76 | 1.57 | 1.77 | 1.86 | 2.13 | 2.10 | 2.07 | 1.99 | 1.90 | 1.91 | 1.66 | 1.97 | 1.74 | — | — | — | — | ||||||||
| KLA Corp. | 2.54 | 2.36 | 2.13 | 2.15 | 2.14 | 1.91 | 2.21 | 2.24 | 2.35 | 2.34 | 2.43 | 2.50 | 2.33 | 2.41 | 2.44 | 2.71 | 2.66 | 2.59 | 2.72 | 2.78 | 2.61 | 2.55 | 2.24 | — | — | — | — | ||||||||
| Lam Research Corp. | 2.45 | 2.54 | 2.53 | 2.97 | 2.82 | 3.06 | 3.06 | 3.16 | 3.09 | 3.01 | 2.69 | 2.69 | 2.83 | 3.13 | 3.27 | 3.30 | 3.13 | 3.19 | 3.31 | 3.43 | 4.47 | 3.30 | 3.59 | — | — | — | — | ||||||||
| Micron Technology Inc. | 2.75 | 3.13 | 2.72 | 2.64 | 3.41 | 3.74 | 3.53 | 4.46 | 4.26 | 4.17 | 3.51 | 2.89 | 3.24 | 3.11 | 3.10 | 3.10 | 3.40 | 3.18 | 2.91 | 2.71 | 2.89 | 2.74 | 2.56 | 2.58 | 2.79 | 2.25 | 2.90 | ||||||||
| NVIDIA Corp. | 4.10 | 4.27 | 3.53 | 4.17 | 3.59 | 2.79 | 3.43 | 3.52 | 3.39 | 3.62 | 5.32 | 6.65 | 7.14 | 5.80 | 4.53 | 4.09 | 3.92 | 6.09 | 10.29 | 7.67 | 8.42 | 8.65 | 8.98 | — | — | — | — | ||||||||
| Qualcomm Inc. | 3.19 | 2.73 | 2.62 | 2.40 | 2.39 | 2.65 | 2.56 | 2.33 | 2.42 | 2.42 | 2.09 | 1.75 | 1.61 | 1.61 | 1.65 | 1.68 | 1.72 | 2.02 | 2.15 | 2.14 | 1.97 | 1.57 | 1.76 | 1.88 | 1.77 | 1.55 | 1.54 | ||||||||
| Texas Instruments Inc. | — | 5.81 | 5.26 | 4.12 | 4.31 | 4.62 | 4.91 | 4.55 | 5.69 | 5.72 | 5.17 | 4.70 | 4.92 | 5.09 | 5.54 | 5.33 | 5.63 | 5.08 | 6.12 | 4.28 | 4.24 | 3.92 | 3.49 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-08-03), 10-Q (reporting date: 2025-05-04), 10-Q (reporting date: 2025-02-02), 10-K (reporting date: 2024-11-03), 10-Q (reporting date: 2024-08-04), 10-Q (reporting date: 2024-05-05), 10-Q (reporting date: 2024-02-04), 10-K (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-29), 10-K (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-Q (reporting date: 2022-01-30), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-Q (reporting date: 2020-02-02), 10-K (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-Q (reporting date: 2019-02-03).
1 Q3 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= 24,998 ÷ 16,704 = 1.50
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in the liquidity position as measured by current assets, current liabilities, and the current ratio over the periods presented.
- Current Assets
- Current assets exhibit a generally increasing trend with fluctuations across quarters. From early 2019 through late 2020, current assets rose from approximately 10,604 million USD to a peak near 18,504 million USD by the end of 2022. Subsequent quarters show some volatility, with periods of both increase and decline, especially notable towards the 2024-2025 timeframe where values range between roughly 19,500 million USD and 27,192 million USD. Overall, current assets have shown substantial growth over the time horizon under review.
- Current Liabilities
- Current liabilities have also varied over time but present a less consistent pattern. Initially, liabilities remain relatively stable between 6,300 million USD and 8,300 million USD from early 2019 to early 2021. However, starting in 2024, current liabilities display a sharp increase, reaching upwards of approximately 20,000 million USD, before decreasing somewhat in subsequent periods. This spike suggests significant changes in the company's short-term obligations in the most recent quarters.
- Current Ratio
- The current ratio follows a distinct pattern correlating with the movements of current assets and liabilities. Early data from 2019 to 2023 show a healthy and improving liquidity position with the ratio climbing from around 1.27 to a peak of about 2.82, indicating strong capacity to cover short-term liabilities. However, from 2024 onwards, there is a marked decline with the ratio falling below 1.5 and reaching a low near 1.00 in early 2025. This decline corresponds to the significant increase in current liabilities combined with relatively less pronounced growth in current assets, signaling a reduction in short-term financial flexibility.
In summary, the data indicate strong growth and improvement in liquidity through 2022 and early 2023, followed by a period of increased short-term liabilities starting in 2024, which exerts downward pressure on the current ratio. This shift suggests a potential change in working capital management or financing strategy, meriting further investigation to understand underlying causes and implications for the company's short-term financial health.
Quick Ratio
Broadcom Inc., quick ratio calculation (quarterly data)
| Aug 3, 2025 | May 4, 2025 | Feb 2, 2025 | Nov 3, 2024 | Aug 4, 2024 | May 5, 2024 | Feb 4, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | Feb 3, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | 10,718) | 9,472) | 9,307) | 9,348) | 9,952) | 9,809) | 11,864) | 14,189) | 12,055) | 11,553) | 12,647) | 12,416) | 9,977) | 9,005) | 10,219) | 12,163) | 11,105) | 9,518) | 9,552) | 7,618) | 8,857) | 9,207) | 6,444) | 5,055) | 5,462) | 5,328) | 5,093) | ||||||||
| Trade accounts receivable, net | 6,494) | 5,563) | 4,955) | 4,416) | 4,665) | 5,500) | 4,969) | 3,154) | 2,914) | 3,031) | 3,234) | 2,958) | 2,708) | 3,083) | 2,539) | 2,071) | 2,234) | 2,425) | 2,524) | 2,297) | 2,684) | 3,211) | 3,651) | 3,259) | 3,539) | 3,484) | 3,677) | ||||||||
| Total quick assets | 17,212) | 15,035) | 14,262) | 13,764) | 14,617) | 15,309) | 16,833) | 17,343) | 14,969) | 14,584) | 15,881) | 15,374) | 12,685) | 12,088) | 12,758) | 14,234) | 13,339) | 11,943) | 12,076) | 9,915) | 11,541) | 12,418) | 10,095) | 8,314) | 9,001) | 8,812) | 8,770) | ||||||||
| Current liabilities | 16,704) | 20,597) | 20,910) | 16,697) | 19,221) | 20,171) | 20,369) | 7,405) | 7,345) | 7,511) | 7,483) | 7,052) | 6,702) | 6,910) | 6,287) | 6,281) | 6,501) | 6,436) | 6,694) | 6,371) | 6,702) | 6,601) | 7,739) | 6,899) | 8,282) | 8,503) | 8,349) | ||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||||
| Quick ratio1 | 1.03 | 0.73 | 0.68 | 0.82 | 0.76 | 0.76 | 0.83 | 2.34 | 2.04 | 1.94 | 2.12 | 2.18 | 1.89 | 1.75 | 2.03 | 2.27 | 2.05 | 1.86 | 1.80 | 1.56 | 1.72 | 1.88 | 1.30 | 1.21 | 1.09 | 1.04 | 1.05 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | 1.12 | 1.66 | 1.56 | 1.57 | 1.79 | 1.71 | 1.67 | 1.42 | 1.40 | 1.52 | 1.57 | 1.48 | 1.82 | 1.83 | 1.49 | 1.64 | 2.01 | 1.85 | 1.80 | 1.62 | 1.46 | 1.55 | — | — | — | — | ||||||||
| Analog Devices Inc. | 1.69 | 1.40 | 1.32 | 1.24 | 1.14 | 1.02 | 0.86 | 0.76 | 0.98 | 1.06 | 1.36 | 1.34 | 1.34 | 1.44 | 1.54 | 1.24 | 0.82 | 0.76 | 1.12 | 1.31 | 1.05 | 0.87 | 0.70 | 0.85 | 0.88 | 1.03 | 1.55 | ||||||||
| Applied Materials Inc. | 1.62 | 1.62 | 1.84 | 1.74 | 1.95 | 1.79 | 1.72 | 1.63 | 1.43 | 1.35 | 1.30 | 1.17 | 1.24 | 1.32 | 1.62 | 1.64 | 2.02 | 2.10 | 2.15 | 1.95 | 1.76 | 1.75 | 1.45 | 1.38 | 1.57 | 1.63 | 1.63 | ||||||||
| Intel Corp. | — | 0.67 | 0.75 | 0.72 | 0.77 | 1.01 | 0.91 | 1.01 | 0.97 | 1.00 | 1.15 | 1.01 | 1.08 | 1.22 | 1.56 | 1.38 | 1.46 | 1.30 | 1.23 | 1.24 | 1.15 | 1.48 | 1.22 | — | — | — | — | ||||||||
| KLA Corp. | 1.58 | 1.48 | 1.37 | 1.36 | 1.33 | 1.13 | 1.30 | 1.33 | 1.41 | 1.48 | 1.53 | 1.57 | 1.48 | 1.63 | 1.62 | 1.81 | 1.80 | 1.74 | 1.76 | 1.82 | 1.67 | 1.67 | 1.45 | — | — | — | — | ||||||||
| Lam Research Corp. | 1.58 | 1.68 | 1.69 | 1.93 | 1.78 | 1.95 | 1.87 | 1.95 | 1.93 | 1.88 | 1.75 | 1.72 | 1.88 | 2.20 | 2.18 | 2.11 | 1.79 | 1.83 | 1.89 | 2.22 | 2.92 | 1.97 | 2.54 | — | — | — | — | ||||||||
| Micron Technology Inc. | 1.80 | 1.87 | 1.67 | 1.59 | 1.98 | 2.13 | 2.01 | 2.53 | 2.50 | 2.49 | 2.13 | 1.92 | 2.35 | 2.24 | 2.28 | 2.17 | 2.30 | 1.94 | 1.89 | 1.82 | 1.98 | 1.81 | 1.74 | 1.74 | 1.84 | 1.62 | 2.12 | ||||||||
| NVIDIA Corp. | 3.41 | 3.50 | 2.88 | 3.38 | 2.92 | 2.23 | 2.67 | 2.61 | 2.63 | 2.95 | 4.63 | 5.96 | 6.44 | 5.22 | 3.92 | 3.56 | 3.46 | 5.42 | 9.60 | 7.04 | 7.61 | 7.62 | 7.64 | — | — | — | — | ||||||||
| Qualcomm Inc. | 2.02 | 1.84 | 1.79 | 1.64 | 1.64 | 1.85 | 1.70 | 1.51 | 1.47 | 1.32 | 1.21 | 1.01 | 0.90 | 1.16 | 1.25 | 1.34 | 1.38 | 1.64 | 1.78 | 1.75 | 1.57 | 1.33 | 1.54 | 1.65 | 1.54 | 1.33 | 1.30 | ||||||||
| Texas Instruments Inc. | — | 2.93 | 2.76 | 2.55 | 2.88 | 3.13 | 3.40 | 3.12 | 4.12 | 4.24 | 3.93 | 3.67 | 3.98 | 4.13 | 4.60 | 4.45 | 4.74 | 4.08 | 4.86 | 3.34 | 3.16 | 2.84 | 2.54 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-08-03), 10-Q (reporting date: 2025-05-04), 10-Q (reporting date: 2025-02-02), 10-K (reporting date: 2024-11-03), 10-Q (reporting date: 2024-08-04), 10-Q (reporting date: 2024-05-05), 10-Q (reporting date: 2024-02-04), 10-K (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-29), 10-K (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-Q (reporting date: 2022-01-30), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-Q (reporting date: 2020-02-02), 10-K (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-Q (reporting date: 2019-02-03).
1 Q3 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 17,212 ÷ 16,704 = 1.03
2 Click competitor name to see calculations.
The financial data reveals notable fluctuations in the liquidity position over the analyzed periods. Total quick assets exhibit a general upward trend with considerable volatility. From early 2019 through early 2024, quick assets increased from approximately $8,770 million to peak around $17,343 million in October 2023, indicating a strengthening in liquid resources. However, a slight decline is observed toward mid-2024, with values falling back closer to $15,035 million, before rebounding to $17,212 million by August 2025.
Current liabilities present a less consistent pattern. Initially fluctuating between $6,371 million and $8,503 million during the 2019-2021 timeframe, they then rise sharply starting in early 2024, reaching levels exceeding $20,000 million. Such an increase more than doubles liabilities compared to prior periods, suggesting a substantial change in short-term obligations which could relate to operational scale expansion or increased short-term financing.
The quick ratio, which measures liquidity by comparing quick assets to current liabilities, initially demonstrates a robust improvement. Starting slightly above 1.0 in early 2019, it climbs steadily, reaching a high of 2.34 by October 2023, indicating a strong ability to cover current liabilities with quick assets. Nevertheless, a marked downturn occurs after this peak, with the ratio falling below 1.0 repeatedly from February 2024 through August 2025. This decline in quick ratio reflects the disproportionate increase in current liabilities compared to quick assets during that period, thus signaling a reduction in immediate liquidity and a potential concern for short-term financial stability.
In summary, the overall trend points to an initial strengthening of liquidity and quick asset accumulation up to late 2023. Subsequently, a significant rise in current liabilities coupled with a declining quick ratio suggests heightened short-term financial pressures. The data implies a shift in the liquidity dynamics of the company that warrants close monitoring to ensure sufficient coverage of liabilities with liquid resources moving forward.
Cash Ratio
Broadcom Inc., cash ratio calculation (quarterly data)
| Aug 3, 2025 | May 4, 2025 | Feb 2, 2025 | Nov 3, 2024 | Aug 4, 2024 | May 5, 2024 | Feb 4, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | Feb 3, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | 10,718) | 9,472) | 9,307) | 9,348) | 9,952) | 9,809) | 11,864) | 14,189) | 12,055) | 11,553) | 12,647) | 12,416) | 9,977) | 9,005) | 10,219) | 12,163) | 11,105) | 9,518) | 9,552) | 7,618) | 8,857) | 9,207) | 6,444) | 5,055) | 5,462) | 5,328) | 5,093) | ||||||||
| Total cash assets | 10,718) | 9,472) | 9,307) | 9,348) | 9,952) | 9,809) | 11,864) | 14,189) | 12,055) | 11,553) | 12,647) | 12,416) | 9,977) | 9,005) | 10,219) | 12,163) | 11,105) | 9,518) | 9,552) | 7,618) | 8,857) | 9,207) | 6,444) | 5,055) | 5,462) | 5,328) | 5,093) | ||||||||
| Current liabilities | 16,704) | 20,597) | 20,910) | 16,697) | 19,221) | 20,171) | 20,369) | 7,405) | 7,345) | 7,511) | 7,483) | 7,052) | 6,702) | 6,910) | 6,287) | 6,281) | 6,501) | 6,436) | 6,694) | 6,371) | 6,702) | 6,601) | 7,739) | 6,899) | 8,282) | 8,503) | 8,349) | ||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||||
| Cash ratio1 | 0.64 | 0.46 | 0.45 | 0.56 | 0.52 | 0.49 | 0.58 | 1.92 | 1.64 | 1.54 | 1.69 | 1.76 | 1.49 | 1.30 | 1.63 | 1.94 | 1.71 | 1.48 | 1.43 | 1.20 | 1.32 | 1.39 | 0.83 | 0.73 | 0.66 | 0.63 | 0.61 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | 0.60 | 0.95 | 0.70 | 0.61 | 0.86 | 0.93 | 0.86 | 0.76 | 0.83 | 0.90 | 0.92 | 0.84 | 1.08 | 1.17 | 0.85 | 1.01 | 1.31 | 1.09 | 0.95 | 0.73 | 0.73 | 0.70 | — | — | — | — | ||||||||
| Analog Devices Inc. | 1.16 | 0.88 | 0.92 | 0.79 | 0.79 | 0.72 | 0.45 | 0.30 | 0.41 | 0.44 | 0.69 | 0.60 | 0.62 | 0.75 | 0.81 | 0.71 | 0.53 | 0.47 | 0.63 | 0.77 | 0.65 | 0.50 | 0.37 | 0.43 | 0.41 | 0.52 | 0.71 | ||||||||
| Applied Materials Inc. | 0.89 | 0.84 | 1.06 | 1.12 | 1.26 | 1.10 | 1.06 | 0.93 | 0.79 | 0.65 | 0.56 | 0.35 | 0.52 | 0.59 | 0.92 | 0.86 | 1.27 | 1.40 | 1.47 | 1.29 | 1.11 | 1.20 | 0.87 | 0.81 | 0.94 | 1.00 | 0.98 | ||||||||
| Intel Corp. | — | 0.61 | 0.65 | 0.62 | 0.69 | 0.91 | 0.78 | 0.89 | 0.87 | 0.89 | 1.01 | 0.88 | 0.81 | 0.99 | 1.32 | 1.03 | 1.17 | 1.00 | 0.93 | 0.97 | 0.83 | 1.15 | 0.87 | — | — | — | — | ||||||||
| KLA Corp. | 1.03 | 0.91 | 0.96 | 0.97 | 0.96 | 0.73 | 0.88 | 0.87 | 0.85 | 0.82 | 0.94 | 0.94 | 0.91 | 1.01 | 1.04 | 1.19 | 1.20 | 1.14 | 1.17 | 1.17 | 0.99 | 0.98 | 0.90 | — | — | — | — | ||||||||
| Lam Research Corp. | 0.99 | 1.06 | 1.14 | 1.35 | 1.28 | 1.32 | 1.21 | 1.28 | 1.19 | 0.99 | 0.84 | 0.77 | 1.00 | 1.32 | 1.19 | 1.25 | 1.02 | 1.03 | 1.21 | 1.55 | 1.88 | 1.18 | 1.87 | — | — | — | — | ||||||||
| Micron Technology Inc. | 1.07 | 1.04 | 0.84 | 0.88 | 1.23 | 1.44 | 1.52 | 2.01 | 2.03 | 2.06 | 1.62 | 1.24 | 1.46 | 1.46 | 1.47 | 1.34 | 1.53 | 1.32 | 1.24 | 1.23 | 1.40 | 1.28 | 1.20 | 1.24 | 1.24 | 1.02 | 1.07 | ||||||||
| NVIDIA Corp. | 2.34 | 2.49 | 2.07 | 2.44 | 2.01 | 1.55 | 2.11 | 2.03 | 1.92 | 2.25 | 3.66 | 4.89 | 5.34 | 4.42 | 3.16 | 2.95 | 2.76 | 4.56 | 8.59 | 6.11 | 6.62 | 6.44 | 6.60 | — | — | — | — | ||||||||
| Qualcomm Inc. | 1.58 | 1.45 | 1.44 | 1.27 | 1.34 | 1.51 | 1.31 | 1.18 | 1.02 | 0.85 | 0.82 | 0.54 | 0.58 | 0.86 | 0.92 | 1.04 | 1.13 | 1.27 | 1.33 | 1.29 | 1.34 | 1.02 | 1.24 | 1.37 | 1.32 | 0.98 | 0.98 | ||||||||
| Texas Instruments Inc. | — | 2.15 | 2.01 | 2.08 | 2.37 | 2.66 | 2.93 | 2.58 | 3.37 | 3.52 | 3.29 | 3.04 | 3.25 | 3.28 | 3.89 | 3.79 | 4.05 | 3.36 | 3.93 | 2.75 | 2.53 | 2.29 | 1.99 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-08-03), 10-Q (reporting date: 2025-05-04), 10-Q (reporting date: 2025-02-02), 10-K (reporting date: 2024-11-03), 10-Q (reporting date: 2024-08-04), 10-Q (reporting date: 2024-05-05), 10-Q (reporting date: 2024-02-04), 10-K (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-29), 10-K (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-Q (reporting date: 2022-01-30), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-Q (reporting date: 2020-02-02), 10-K (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-Q (reporting date: 2019-02-03).
1 Q3 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 10,718 ÷ 16,704 = 0.64
2 Click competitor name to see calculations.
- Total Cash Assets
- The total cash assets exhibit notable fluctuations over the observed periods. Initially, cash assets ranged modestly between approximately $5,000 million and $6,000 million until early 2020. A marked increase occurred starting in February 2020, peaking several times between 2020 and mid-2023, reaching highs above $14,000 million. This upward trend suggests periods of strong liquidity accumulation. However, there is some volatility as cash levels slightly declined after peaks but remained elevated compared to the initial periods. Towards late 2024 and mid-2025, total cash assets show a moderate decline from previous highs but still hover around $9,000 to $10,700 million, indicating a stabilization at a relatively high cash position compared to the start of the series.
- Current Liabilities
- Current liabilities display considerable variability but demonstrate a general rising trend over time. The initial values fluctuate around $6,000 - $8,500 million until early 2021, with occasional dips. Beginning in early 2021, liabilities begin to rise significantly, reaching levels around $20,000 million or higher in several later periods. This substantial increase implies growing short-term obligations, which could reflect either expanded operations, increased payables, or short-term financing activities. Despite some minor fluctuations, the upward movement is pronounced in the latter half of the dataset, with a slight decline towards the latest periods, although still at levels much higher than those seen in early years.
- Cash Ratio
- The cash ratio demonstrates a dynamic pattern closely tied to the movements in cash assets and current liabilities. Initially, the ratio improved steadily, starting at 0.61 and rising consistently to a peak near 1.94 during late 2021, indicating that cash and cash equivalents increasingly covered current liabilities, reflecting improving liquidity. From that point, the ratio fluctuates moderately but remains generally above 1.0 into early 2024, reflecting a strong liquidity position where cash assets exceed current liabilities. However, from early 2024 onward, the cash ratio declines sharply, reaching a low of 0.45 before a slight recovery to 0.64. This decline signals increased liabilities relative to cash or reduced cash buffers, raising potential concerns about liquidity adequacy in the most recent periods.
- Overall Insights
- The data reveals a pattern where liquidity, as measured by cash assets, improved markedly during the early to mid-periods, supported by a generally strong cash ratio indicating coverage of liabilities by cash. However, the rising current liabilities throughout the series create a more challenging liquidity environment late in the timeline, as evidenced by the declining cash ratio in the most recent quarters. This suggests a possible shift toward heavier reliance on short-term obligations or a strategic change in working capital management. Continuous monitoring of the cash ratio is advisable to ensure liquidity remains sufficient to meet short-term obligations.