Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Gilead Sciences Inc., liquidity ratios (quarterly data)
Based on: 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 exhibits a cyclical pattern characterized by a period of contraction followed by a significant strengthening of the short-term financial position. While liquidity ratios experienced downward pressure through the first half of 2024, there is a pronounced recovery trend leading into early 2026, suggesting a strategic accumulation of liquid assets or a reduction in current liabilities.
- Current Ratio
- The current ratio began at 1.48 in March 2022 and experienced a gradual decline, reaching a low of 1.02 by June 2023. Following this trough, the ratio showed volatility but generally trended upward, peaking at 1.60 in December 2024. A strong acceleration is observed in the final quarters, culminating in a period high of 1.97 by March 2026, indicating a substantial increase in the capacity to cover short-term obligations with current assets.
- Quick Ratio
- The quick ratio reflects a similar trajectory to the current ratio, starting at 1.06 and declining to 0.78 in June 2023. A second significant dip occurred in June 2024, where the ratio reached its minimum of 0.69. However, a robust recovery followed, with the ratio climbing steadily to end at 1.31 in March 2026. The consistent gap between the current and quick ratios suggests a stable reliance on inventory as a component of current assets.
- Cash Ratio
- The cash ratio exhibited the highest degree of volatility among the three metrics. After starting at 0.62, it dropped to a mid-term low of 0.26 in June 2024, representing a period of minimum immediate liquidity. This was followed by a sharp recovery, with the ratio rising to 0.81 by March 2026. This fluctuation suggests periodic significant deployments of cash followed by phases of aggressive cash accumulation.
Overall, the convergence of all three ratios toward their highest recorded levels by March 2026 indicates a marked improvement in the liquidity position. The transition from a constrained state in mid-2024 to a surplus state by 2026 reflects a strengthened balance sheet with enhanced flexibility to meet immediate financial commitments.
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Current Ratio
Gilead Sciences Inc., current ratio calculation (quarterly data)
| 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 | 18,641) | 18,342) | 17,874) | 14,718) | 16,901) | 19,173) | 14,779) | 12,317) | 14,041) | 16,085) | 15,980) | 14,287) | 13,456) | 14,443) | 13,554) | 13,175) | 12,629) | ||||||
| Current liabilities | 9,476) | 11,813) | 12,298) | 11,189) | 12,344) | 12,004) | 11,725) | 10,781) | 13,015) | 11,280) | 11,945) | 13,964) | 10,528) | 11,237) | 10,423) | 9,220) | 8,558) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Current ratio1 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||
| AbbVie Inc. | 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 | ||||||
| Amgen Inc. | 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 | ||||||
| Bristol-Myers Squibb Co. | 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. | 1.87 | 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. | 1.50 | 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 | ||||||
| Johnson & Johnson | 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. | 1.30 | 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. | 1.25 | 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. | 3.57 | 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. | 1.53 | 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. | 3.02 | 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: 2026-03-31), 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 Q1 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 18,641 ÷ 9,476 = 1.97
2 Click competitor name to see calculations.
The liquidity position of the entity exhibits a period of volatility followed by a substantial strengthening of short-term solvency. Between March 2022 and March 2026, the current ratio fluctuated significantly, reaching a critical low before trending upward to its highest point in the observed period.
- Current Ratio Volatility and Recovery
- A downward trend in the current ratio is observed from March 2022, where it stood at 1.48, falling to a minimum of 1.02 by June 30, 2023. This decline indicates a narrowing margin of safety for meeting short-term obligations. However, a recovery phase followed, with the ratio climbing to 1.60 by December 31, 2024, and ultimately peaking at 1.97 by March 31, 2026. This final surge represents a significant improvement in the ability to cover current liabilities with current assets.
- Current Asset Trajectory
- Current assets showed a general upward trajectory, increasing from 12,629 million US$ in March 2022 to 18,641 million US$ by March 2026. Although there were intermittent contractions—most notably in June 2024—the overall growth in assets provided a stronger foundation for liquidity in the latter half of the period.
- Current Liability Management
- Current liabilities fluctuated between 8,558 million US$ and a peak of 13,964 million US$ in June 2023. The peak in liabilities coincided with the lowest point of the current ratio, highlighting a period of heightened short-term financial pressure. Toward the end of the period, a notable reduction in liabilities is observed, dropping to 9,476 million US$ by March 2026, which contributed heavily to the expansion of the liquidity ratio.
- Overall Liquidity Position
- The convergence of increasing current assets and decreasing current liabilities in the final quarters led to a marked expansion of the current ratio. The transition from a ratio of 1.02 in mid-2023 to 1.97 in early 2026 indicates a shift from a tight liquidity position to a highly conservative and robust short-term financial standing.
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Quick Ratio
Gilead Sciences Inc., quick ratio calculation (quarterly data)
| 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 | 7,628) | 7,564) | 7,330) | 5,144) | 7,926) | 9,991) | 5,037) | 2,772) | 4,718) | 6,085) | 5,705) | 5,704) | 4,936) | 5,412) | 4,699) | 4,739) | 4,296) | ||||||
| Short-term marketable debt securities | 15) | 68) | 19) | 69) | —) | —) | —) | —) | —) | 1,179) | 1,159) | 963) | 936) | 973) | 961) | 924) | 1,029) | ||||||
| Accounts receivable, net | 4,741) | 4,913) | 5,095) | 4,781) | 4,388) | 4,420) | 4,587) | 4,663) | 4,669) | 4,660) | 4,790) | 4,229) | 4,162) | 4,777) | 4,354) | 4,118) | 3,787) | ||||||
| Total quick assets | 12,384) | 12,545) | 12,444) | 9,994) | 12,314) | 14,411) | 9,624) | 7,435) | 9,387) | 11,924) | 11,654) | 10,896) | 10,034) | 11,162) | 10,014) | 9,781) | 9,112) | ||||||
| Current liabilities | 9,476) | 11,813) | 12,298) | 11,189) | 12,344) | 12,004) | 11,725) | 10,781) | 13,015) | 11,280) | 11,945) | 13,964) | 10,528) | 11,237) | 10,423) | 9,220) | 8,558) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Quick ratio1 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||
| AbbVie Inc. | 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 | ||||||
| Amgen Inc. | 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 | ||||||
| Bristol-Myers Squibb Co. | 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. | 1.28 | 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. | 0.72 | 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 | ||||||
| Johnson & Johnson | 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. | 0.66 | 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. | 0.75 | 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. | 2.84 | 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. | 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. | 2.38 | 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: 2026-03-31), 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 Q1 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 12,384 ÷ 9,476 = 1.31
2 Click competitor name to see calculations.
The liquidity profile exhibits significant volatility over the analyzed period, characterized by a period of tightening liquidity between mid-2023 and mid-2024, followed by a robust recovery. The quick ratio, which measures the ability to meet short-term obligations without relying on inventory, fluctuated from a low of 0.69 to a peak of 1.31, indicating a shift from a position of potential short-term liquidity pressure to a strengthened financial cushion.
- Quick Ratio Trend
- The ratio remained stable at 1.06 through the first half of 2022 before entering a downward trajectory. A period of sustained weakness is observed between June 2023 and June 2024, where the ratio dropped below 1.00, reaching a minimum of 0.69. A sharp recovery began in September 2024, with the ratio ascending to 1.20 by December 2024 and continuing an upward trend to reach 1.31 by March 2026.
- Quick Asset Volatility
- Total quick assets demonstrated inconsistent movement, with a notable contraction in early 2024. Assets fell from 11.9 billion USD in December 2023 to a period low of 7.4 billion USD in June 2024. This was followed by a rapid increase, peaking at 14.4 billion USD in December 2024. The subsequent quarters show a stabilization of quick assets, maintaining a range between 9.9 billion USD and 12.5 billion USD through March 2026.
- Current Liabilities Management
- Current liabilities showed a marked increase during the period of liquidity decline, peaking at 13.9 billion USD in June 2023 and remaining elevated at 13.0 billion USD in March 2024. The subsequent improvement in the quick ratio was driven not only by the recovery of assets but also by a steady reduction in these obligations, which declined to 9.4 billion USD by March 2026.
- Liquidity Correlation
- The period of lowest liquidity (March 2024 to June 2024) resulted from a simultaneous decrease in quick assets and a sustained high level of current liabilities. Conversely, the strongest liquidity position observed in March 2026 was achieved through the combination of recovering asset levels and the lowest recorded level of current liabilities within the analyzed timeframe.
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Cash Ratio
Gilead Sciences Inc., cash ratio calculation (quarterly data)
| 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 | 7,628) | 7,564) | 7,330) | 5,144) | 7,926) | 9,991) | 5,037) | 2,772) | 4,718) | 6,085) | 5,705) | 5,704) | 4,936) | 5,412) | 4,699) | 4,739) | 4,296) | ||||||
| Short-term marketable debt securities | 15) | 68) | 19) | 69) | —) | —) | —) | —) | —) | 1,179) | 1,159) | 963) | 936) | 973) | 961) | 924) | 1,029) | ||||||
| Total cash assets | 7,643) | 7,632) | 7,349) | 5,213) | 7,926) | 9,991) | 5,037) | 2,772) | 4,718) | 7,264) | 6,864) | 6,667) | 5,872) | 6,385) | 5,660) | 5,663) | 5,325) | ||||||
| Current liabilities | 9,476) | 11,813) | 12,298) | 11,189) | 12,344) | 12,004) | 11,725) | 10,781) | 13,015) | 11,280) | 11,945) | 13,964) | 10,528) | 11,237) | 10,423) | 9,220) | 8,558) | ||||||
| Liquidity Ratio | |||||||||||||||||||||||
| Cash ratio1 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||
| AbbVie Inc. | 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 | ||||||
| Amgen Inc. | 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 | ||||||
| Bristol-Myers Squibb Co. | 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. | 0.76 | 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. | 0.14 | 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 | ||||||
| Johnson & Johnson | 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. | 0.21 | 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. | 0.38 | 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. | 1.71 | 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. | 0.22 | 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. | 1.87 | 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: 2026-03-31), 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 Q1 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 7,643 ÷ 9,476 = 0.81
2 Click competitor name to see calculations.
The liquidity position exhibits significant volatility over the analyzed period, characterized by substantial fluctuations in cash reserves and short-term obligations. While the immediate liquidity capacity experienced a notable contraction during the first half of 2024, a strong recovery trend is evident in the subsequent periods, ending with an improved liquidity posture by March 31, 2026.
- Cash Asset Volatility
- Total cash assets showed a general upward trajectory from March 31, 2022, reaching $7,264 million by the end of 2023. A sharp decline occurred in the first half of 2024, with assets bottoming at $2,772 million in June 2024. This was followed by a rapid surge to a peak of $9,991 million by December 31, 2024, before stabilizing between $7,300 million and $7,600 million through the first quarter of 2026.
- Current Liabilities Management
- Current liabilities remained relatively high and volatile, peaking at $13,964 million in June 2023 and $13,015 million in March 2024. Following this peak, there is a observable downward trend in short-term obligations, which decreased to $9,476 million by March 31, 2026, contributing to an overall improvement in the liquidity profile.
- Cash Ratio Performance
- The cash ratio began at 0.62 in March 2022 and remained relatively stable until a significant drop began in early 2024, reaching a period low of 0.26 in June 2024. This indicated a temporary reduction in the ability to cover current liabilities using only cash and cash equivalents. However, the ratio rebounded sharply to 0.83 by December 31, 2024, and maintained a stronger position, concluding at 0.81 by March 31, 2026.
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