Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Lam Research Corp., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-09-27), 10-K (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-Q (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-K (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-24), 10-Q (reporting date: 2023-09-24), 10-K (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-Q (reporting date: 2022-12-25), 10-Q (reporting date: 2022-09-25), 10-K (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-Q (reporting date: 2021-12-26), 10-Q (reporting date: 2021-09-26).
The liquidity profile exhibits a general trend of contraction over the observed period, although all indicators remain well above conventional minimum thresholds. A cyclical pattern is evident, characterized by peaks in late 2021 and mid-2023, followed by a sustained period of decline that reached a trough in mid-2025 before showing signs of stabilization and moderate recovery through 2026.
- Current Ratio
- A downward trajectory is observed from a peak of 3.27 in September 2021 to a close of 2.48 in September 2026. While there was a temporary recovery reaching 3.16 in June 2023, the ratio experienced a steady decline to a low of 2.21 by June 2025. The subsequent rise to 2.63 in June 2026 suggests a recent improvement in the coverage of short-term obligations by current assets.
- Quick Ratio
- The quick ratio closely mirrors the movement of the current ratio, starting at 2.18 and ending at 1.79. A notable decline occurred between December 2023 (1.95) and June 2025 (1.49), indicating a reduction in highly liquid assets relative to current liabilities. The ratio recovered to 1.84 by June 2026, confirming that the organization maintains a strong ability to meet immediate obligations without relying on inventory liquidation.
- Cash Ratio
- The cash ratio demonstrates the highest volatility of the three metrics, fluctuating between a low of 0.77 in June 2022 and a peak of 1.35 in June 2024. After the 2024 peak, a downward trend followed, hitting a low of 0.91 in March 2026. However, the ratio ended the period at 1.02, suggesting that cash and cash equivalents are sufficient to cover the entirety of current liabilities.
Overall, the narrowing gap between the current ratio and the quick ratio in the latter half of the period suggests a potential change in inventory levels or asset composition. Despite the overall reduction in liquidity buffers since 2021, the consistency of all three ratios remaining significantly above 1.0 indicates a robust financial position and low short-term solvency risk.
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Current Ratio
Lam Research Corp., current ratio calculation (quarterly data)
| Sep 27, 2026 | Jun 28, 2026 | Mar 29, 2026 | Dec 28, 2025 | Sep 28, 2025 | Jun 29, 2025 | Mar 30, 2025 | Dec 29, 2024 | Sep 29, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 24, 2023 | Sep 24, 2023 | Jun 25, 2023 | Mar 26, 2023 | Dec 25, 2022 | Sep 25, 2022 | Jun 26, 2022 | Mar 27, 2022 | Dec 26, 2021 | Sep 26, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Current assets | 18,124,112) | 15,610,705) | 13,296,917) | 14,018,023) | 14,806,714) | 14,516,995) | 13,460,322) | 13,612,847) | 13,492,368) | 12,883,220) | 12,488,436) | 13,054,612) | 12,993,562) | 13,228,412) | 13,730,027) | 13,708,788) | 13,612,664) | 12,285,235) | 11,888,101) | 12,102,862) | 11,144,682) | |||||||
| Current liabilities | 7,312,499) | 5,937,249) | 5,242,398) | 6,213,153) | 6,707,910) | 6,568,425) | 5,489,845) | 5,350,296) | 5,342,668) | 4,338,438) | 4,430,089) | 4,272,383) | 4,247,177) | 4,184,918) | 4,441,329) | 4,546,922) | 5,053,382) | 4,564,759) | 4,194,741) | 3,863,151) | 3,409,220) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||
| Current ratio1 | 2.48 | 2.63 | 2.54 | 2.26 | 2.21 | 2.21 | 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 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | — | — | 2.61 | 2.72 | 2.85 | 2.31 | 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 | |||||||
| Analog Devices Inc. | — | — | 1.25 | 1.75 | 1.76 | 2.19 | 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 | |||||||
| Applied Materials Inc. | — | — | 2.42 | 2.51 | 2.71 | 2.61 | 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 | |||||||
| Broadcom Inc. | — | — | 2.50 | 2.24 | 1.90 | 1.71 | 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 | |||||||
| Intel Corp. | — | — | 2.21 | 1.60 | 2.31 | 2.02 | 1.60 | 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 | |||||||
| KLA Corp. | 2.76 | 2.88 | 3.03 | 2.83 | 2.69 | 2.62 | 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 | |||||||
| Marvell Technology Inc. | 3.28 | 2.01 | 2.01 | 1.88 | 1.30 | 1.54 | 1.60 | 1.79 | 1.80 | 1.69 | 1.58 | 1.03 | 1.05 | 1.37 | 1.31 | 1.35 | 1.67 | 1.80 | 1.81 | 1.76 | 1.63 | |||||||
| Micron Technology Inc. | — | 3.31 | 3.42 | 2.90 | 2.46 | 2.52 | 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 | |||||||
| NVIDIA Corp. | 3.44 | 3.91 | 4.47 | 4.21 | 3.39 | 4.44 | 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 | |||||||
| Qualcomm Inc. | — | — | 2.02 | 2.37 | 2.51 | 2.82 | 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 | |||||||
| Texas Instruments Inc. | — | — | 5.59 | 4.86 | 4.46 | 4.35 | 4.45 | 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 | |||||||
Based on: 10-Q (reporting date: 2026-09-27), 10-K (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-Q (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-K (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-24), 10-Q (reporting date: 2023-09-24), 10-K (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-Q (reporting date: 2022-12-25), 10-Q (reporting date: 2022-09-25), 10-K (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-Q (reporting date: 2021-12-26), 10-Q (reporting date: 2021-09-26).
1 Q1 2027 Calculation
Current ratio = Current assets ÷ Current liabilities
= 18,124,112 ÷ 7,312,499 = 2.48
2 Click competitor name to see calculations.
The liquidity position of the organization demonstrates a general downward trend in the current ratio over the analyzed period, although it maintains a substantial margin of safety. While the ratio began at 3.27 in September 2021, it concluded at 2.48 in September 2026, reflecting a shift in the balance between short-term assets and obligations.
- Current Assets Trend
- Current assets exhibited an overall upward trajectory, increasing from 11.14 billion US dollars in September 2021 to 18.12 billion US dollars by September 2026. The growth was relatively stable between late 2021 and early 2025, fluctuating primarily between 12 billion and 14 billion US dollars. A significant acceleration in asset accumulation is observed in the final two quarters, with a sharp increase from 13.30 billion US dollars in December 2025 to 18.12 billion US dollars in September 2026.
- Current Liabilities Trend
- Current liabilities experienced more aggressive growth than assets over the long term, more than doubling from 3.41 billion US dollars in September 2021 to 7.31 billion US dollars in September 2026. A period of relative stability was noted between March 2023 and June 2024, where liabilities hovered around 4.2 to 4.4 billion US dollars. However, a marked increase began in September 2024, with liabilities rising consistently to reach the 7.31 billion US dollar peak by the end of the period.
- Current Ratio Analysis
- The current ratio fluctuated through three distinct phases. First, a decline was observed from September 2021 (3.27) to June 2022 (2.69). Second, a recovery phase occurred, peaking at 3.16 in June 2023. Third, a sustained downward trend emerged from December 2023 (3.06) to a low of 2.21 in mid-2025. This compression of the ratio is attributed to the fact that current liabilities grew at a faster proportional rate than current assets during the latter half of the period. Despite this decline, the ratio remains well above 2.0, indicating that the organization maintains a strong ability to cover its short-term obligations with its current assets.
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Quick Ratio
Lam Research Corp., quick ratio calculation (quarterly data)
| Sep 27, 2026 | Jun 28, 2026 | Mar 29, 2026 | Dec 28, 2025 | Sep 28, 2025 | Jun 29, 2025 | Mar 30, 2025 | Dec 29, 2024 | Sep 29, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 24, 2023 | Sep 24, 2023 | Jun 25, 2023 | Mar 26, 2023 | Dec 25, 2022 | Sep 25, 2022 | Jun 26, 2022 | Mar 27, 2022 | Dec 26, 2021 | Sep 26, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Cash and cash equivalents | 7,437,384) | 5,579,171) | 4,750,936) | 6,180,440) | 6,693,046) | 6,390,659) | 5,450,718) | 5,665,379) | 6,067,471) | 5,847,856) | 5,672,232) | 5,623,289) | 5,126,150) | 5,337,056) | 5,305,648) | 4,484,716) | 4,256,499) | 3,522,001) | 4,194,719) | 5,086,544) | 4,042,151) | |||||||
| Accounts receivable, less allowance | 5,658,379) | 5,339,682) | 4,132,890) | 3,491,987) | 3,633,034) | 3,378,071) | 3,228,182) | 3,304,946) | 2,937,217) | 2,519,250) | 2,203,707) | 2,707,458) | 2,810,953) | 2,823,376) | 3,262,140) | 4,070,088) | 4,569,735) | 4,313,818) | 3,702,320) | 3,402,840) | 3,397,180) | |||||||
| Total quick assets | 13,095,763) | 10,918,853) | 8,883,826) | 9,672,427) | 10,326,080) | 9,768,730) | 8,678,900) | 8,970,325) | 9,004,688) | 8,367,106) | 7,875,939) | 8,330,747) | 7,937,103) | 8,160,432) | 8,567,788) | 8,554,804) | 8,826,234) | 7,835,819) | 7,897,039) | 8,489,384) | 7,439,331) | |||||||
| Current liabilities | 7,312,499) | 5,937,249) | 5,242,398) | 6,213,153) | 6,707,910) | 6,568,425) | 5,489,845) | 5,350,296) | 5,342,668) | 4,338,438) | 4,430,089) | 4,272,383) | 4,247,177) | 4,184,918) | 4,441,329) | 4,546,922) | 5,053,382) | 4,564,759) | 4,194,741) | 3,863,151) | 3,409,220) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||
| Quick ratio1 | 1.79 | 1.84 | 1.69 | 1.56 | 1.54 | 1.49 | 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 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | — | — | 1.69 | 1.75 | 1.78 | 1.15 | 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 | |||||||
| Analog Devices Inc. | — | — | 0.83 | 1.23 | 1.25 | 1.57 | 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 | |||||||
| Applied Materials Inc. | — | — | 1.63 | 1.62 | 1.74 | 1.72 | 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 | |||||||
| Broadcom Inc. | — | — | 1.81 | 1.61 | 1.34 | 1.26 | 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 | |||||||
| Intel Corp. | — | — | 1.55 | 0.95 | 1.37 | 1.31 | 1.06 | 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 | |||||||
| KLA Corp. | 1.72 | 1.81 | 1.94 | 1.83 | 1.72 | 1.65 | 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 | |||||||
| Marvell Technology Inc. | 2.51 | 1.50 | 1.56 | 1.12 | 0.69 | 0.98 | 1.06 | 1.21 | 1.18 | 1.14 | 1.03 | 0.61 | 0.66 | 0.88 | 0.87 | 0.89 | 1.07 | 1.20 | 1.21 | 1.24 | 1.05 | |||||||
| Micron Technology Inc. | — | 2.90 | 2.93 | 2.23 | 1.70 | 1.71 | 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 | |||||||
| NVIDIA Corp. | 2.76 | 3.14 | 3.60 | 3.49 | 2.86 | 3.67 | 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 | |||||||
| Qualcomm Inc. | — | — | 1.14 | 1.45 | 1.63 | 1.84 | 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 | |||||||
| Texas Instruments Inc. | — | — | 3.57 | 2.93 | 2.37 | 2.17 | 2.32 | 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 | |||||||
Based on: 10-Q (reporting date: 2026-09-27), 10-K (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-Q (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-K (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-24), 10-Q (reporting date: 2023-09-24), 10-K (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-Q (reporting date: 2022-12-25), 10-Q (reporting date: 2022-09-25), 10-K (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-Q (reporting date: 2021-12-26), 10-Q (reporting date: 2021-09-26).
1 Q1 2027 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 13,095,763 ÷ 7,312,499 = 1.79
2 Click competitor name to see calculations.
The liquidity position shows a general transition from a highly conservative posture in 2021 to a more moderated, yet stable, liquidity profile by late 2026. While the absolute volume of liquid assets has increased significantly, the rate of growth in current liabilities has exerted downward pressure on the quick ratio over the analyzed period.
- Total Quick Assets
- Quick assets exhibited a consistent upward trajectory, growing from 7.44 billion USD in September 2021 to a peak of 13.10 billion USD by September 2026. This represents a substantial increase in the available liquid resource base, with notable accelerations occurring between March 2025 and June 2026.
- Current Liabilities
- Short-term obligations followed a similar growth pattern, increasing from 3.41 billion USD in September 2021 to 7.31 billion USD in September 2026. The growth in liabilities was more pronounced during the 2024 to 2026 window, where obligations rose from approximately 4.4 billion USD to over 7 billion USD.
- Quick Ratio Trend
- The quick ratio began at a high of 2.18 in September 2021, indicating a very strong capacity to meet immediate obligations. A downward trend is observed throughout the mid-period, reaching a low of 1.49 in June 2025. This decline is attributed to current liabilities growing at a faster pace than quick assets during specific intervals. However, a recovery phase is evident in 2026, with the ratio climbing back to 1.84 in June 2026 before settling at 1.79 in September 2026.
Despite the overall decline from the 2021 peaks, the quick ratio remained consistently above 1.0 throughout the entire period. This indicates that the organization maintained a sufficient cushion of liquid assets to cover its current liabilities without relying on the sale of inventory, suggesting a sustained and healthy short-term solvency position.
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Cash Ratio
Lam Research Corp., cash ratio calculation (quarterly data)
| Sep 27, 2026 | Jun 28, 2026 | Mar 29, 2026 | Dec 28, 2025 | Sep 28, 2025 | Jun 29, 2025 | Mar 30, 2025 | Dec 29, 2024 | Sep 29, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 24, 2023 | Sep 24, 2023 | Jun 25, 2023 | Mar 26, 2023 | Dec 25, 2022 | Sep 25, 2022 | Jun 26, 2022 | Mar 27, 2022 | Dec 26, 2021 | Sep 26, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Cash and cash equivalents | 7,437,384) | 5,579,171) | 4,750,936) | 6,180,440) | 6,693,046) | 6,390,659) | 5,450,718) | 5,665,379) | 6,067,471) | 5,847,856) | 5,672,232) | 5,623,289) | 5,126,150) | 5,337,056) | 5,305,648) | 4,484,716) | 4,256,499) | 3,522,001) | 4,194,719) | 5,086,544) | 4,042,151) | |||||||
| Total cash assets | 7,437,384) | 5,579,171) | 4,750,936) | 6,180,440) | 6,693,046) | 6,390,659) | 5,450,718) | 5,665,379) | 6,067,471) | 5,847,856) | 5,672,232) | 5,623,289) | 5,126,150) | 5,337,056) | 5,305,648) | 4,484,716) | 4,256,499) | 3,522,001) | 4,194,719) | 5,086,544) | 4,042,151) | |||||||
| Current liabilities | 7,312,499) | 5,937,249) | 5,242,398) | 6,213,153) | 6,707,910) | 6,568,425) | 5,489,845) | 5,350,296) | 5,342,668) | 4,338,438) | 4,430,089) | 4,272,383) | 4,247,177) | 4,184,918) | 4,441,329) | 4,546,922) | 5,053,382) | 4,564,759) | 4,194,741) | 3,863,151) | 3,409,220) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||
| Cash ratio1 | 1.02 | 0.94 | 0.91 | 0.99 | 1.00 | 0.97 | 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 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | — | — | 1.09 | 1.18 | 1.12 | 0.62 | 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 | |||||||
| Analog Devices Inc. | — | — | 0.41 | 0.77 | 0.93 | 1.13 | 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 | |||||||
| Applied Materials Inc. | — | — | 0.89 | 0.92 | 1.10 | 1.07 | 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 | |||||||
| Broadcom Inc. | — | — | 1.15 | 1.04 | 0.84 | 0.87 | 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 | |||||||
| Intel Corp. | — | — | 1.44 | 0.83 | 1.22 | 1.18 | 0.96 | 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 | |||||||
| KLA Corp. | 1.04 | 1.14 | 1.32 | 1.31 | 1.16 | 1.10 | 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 | |||||||
| Marvell Technology Inc. | 1.69 | 0.82 | 0.99 | 0.51 | 0.30 | 0.47 | 0.49 | 0.52 | 0.58 | 0.52 | 0.39 | 0.16 | 0.34 | 0.38 | 0.30 | 0.29 | 0.30 | 0.44 | 0.42 | 0.52 | 0.45 | |||||||
| Micron Technology Inc. | — | 1.58 | 1.34 | 1.02 | 0.86 | 0.90 | 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 | |||||||
| NVIDIA Corp. | 1.84 | 1.94 | 2.32 | 2.34 | 2.02 | 2.39 | 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 | |||||||
| Qualcomm Inc. | — | — | 0.73 | 1.00 | 1.20 | 1.36 | 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 | |||||||
| Texas Instruments Inc. | — | — | 2.70 | 2.16 | 1.65 | 1.55 | 1.66 | 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 | |||||||
Based on: 10-Q (reporting date: 2026-09-27), 10-K (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-Q (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-K (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-24), 10-Q (reporting date: 2023-09-24), 10-K (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-Q (reporting date: 2022-12-25), 10-Q (reporting date: 2022-09-25), 10-K (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-Q (reporting date: 2021-12-26), 10-Q (reporting date: 2021-09-26).
1 Q1 2027 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 7,437,384 ÷ 7,312,499 = 1.02
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The cash ratio exhibits a cyclical pattern over the observed period, fluctuating between a minimum of 0.77 and a maximum of 1.35. While absolute cash assets have grown substantially, the ratio's volatility reflects shifting balances between liquid holdings and short-term obligations.
- Liquidity Volatility and Peak Performance
- A period of significant liquidity contraction occurred between March 2022 and September 2022, with the cash ratio dropping from 1.00 to a low of 0.77 in June 2022. This decline was driven by a reduction in total cash assets to 3.52 billion USD coinciding with an increase in current liabilities to 4.56 billion USD. Following this trough, a recovery phase was observed, culminating in a peak cash ratio of 1.35 by June 2024, indicating a period where cash accumulation outpaced the growth of current liabilities.
- Scaling of Balance Sheet Components
- There is a long-term upward trajectory in both cash assets and current liabilities. Total cash assets grew from 4.04 billion USD in September 2021 to 7.44 billion USD by September 2026. Parallel to this, current liabilities expanded from 3.41 billion USD to 7.31 billion USD over the same timeframe. The proportional growth of these two metrics has kept the cash ratio predominantly around the 1.00 threshold, suggesting a consistent strategy of maintaining cash reserves roughly equal to short-term debts.
- Recent Trend Analysis
- From June 2024 to March 2026, a steady downward trend in the cash ratio is evident, falling from 1.35 to 0.91. This compression was primarily caused by current liabilities increasing more rapidly than cash assets during the 2025 fiscal period. However, a sharp reversal occurred in the final two quarters, with the ratio climbing back to 1.02 by September 2026, supported by a significant surge in total cash assets to 7.44 billion USD.
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