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: 2025-05-29), 10-Q (reporting date: 2025-02-27), 10-Q (reporting date: 2024-11-28), 10-K (reporting date: 2024-08-29), 10-Q (reporting date: 2024-05-30), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-06-01), 10-Q (reporting date: 2023-03-02), 10-Q (reporting date: 2022-12-01), 10-K (reporting date: 2022-09-01), 10-Q (reporting date: 2022-06-02), 10-Q (reporting date: 2022-03-03), 10-Q (reporting date: 2021-12-02), 10-K (reporting date: 2021-09-02), 10-Q (reporting date: 2021-06-03), 10-Q (reporting date: 2021-03-04), 10-Q (reporting date: 2020-12-03), 10-K (reporting date: 2020-09-03), 10-Q (reporting date: 2020-05-28), 10-Q (reporting date: 2020-02-27), 10-Q (reporting date: 2019-11-28), 10-K (reporting date: 2019-08-29), 10-Q (reporting date: 2019-05-30), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-29).
- Current Ratio
- The current ratio showed a generally stable to increasing trend from November 2018 through early 2023, starting at 2.9 and reaching a peak of 4.46 in August 2023. This suggests an improvement in short-term liquidity over this period. However, from that peak onward, the ratio declined noticeably to 2.75 by May 2025, indicating a reduction in the company's ability to cover current liabilities with current assets toward the end of the observed period.
- Quick Ratio
- The quick ratio exhibited fluctuations but followed a somewhat similar trajectory as the current ratio. Starting at 2.12 in November 2018, it generally increased to a high of around 2.53 in August 2023, suggesting stronger liquidity without relying on inventory. A subsequent decline occurred, with the ratio reaching 1.8 by May 2025, indicating a decreased cushion of liquid assets to cover short-term liabilities in the most recent periods.
- Cash Ratio
- Regarding the cash ratio, the data displayed a more volatile pattern. Beginning at 1.07 in November 2018, it rose gradually and peaked at 2.06 by early 2023, reflecting an increased level of available cash relative to current liabilities. This was followed by a sharp decline starting in late 2023, falling below 1.0 by late 2024 and staying near or just above that level through mid-2025. The decrease implies a significant reduction in cash holdings relative to current liabilities in recent quarters.
- Overall Analysis
- All three liquidity ratios generally improved from late 2018 through early to mid-2023, indicating enhanced short-term financial health during this interval. The subsequent downward trend in all ratios beginning around late 2023 points to a deterioration in liquidity metrics, with the cash ratio showing the most pronounced reduction. This trend suggests a need to monitor liquidity closely going forward, as the company's ability to meet short-term obligations with its most liquid assets has weakened.
Current Ratio
May 29, 2025 | Feb 27, 2025 | Nov 28, 2024 | Aug 29, 2024 | May 30, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | Jun 1, 2023 | Mar 2, 2023 | Dec 1, 2022 | Sep 1, 2022 | Jun 2, 2022 | Mar 3, 2022 | Dec 2, 2021 | Sep 2, 2021 | Jun 3, 2021 | Mar 4, 2021 | Dec 3, 2020 | Sep 3, 2020 | May 28, 2020 | Feb 27, 2020 | Nov 28, 2019 | Aug 29, 2019 | May 30, 2019 | Feb 28, 2019 | Nov 29, 2018 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||||
Current ratio1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Current Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
Advanced Micro Devices Inc. | |||||||||||||||||||||||||||||||||||
Analog Devices Inc. | |||||||||||||||||||||||||||||||||||
Applied Materials Inc. | |||||||||||||||||||||||||||||||||||
Broadcom Inc. | |||||||||||||||||||||||||||||||||||
Intel Corp. | |||||||||||||||||||||||||||||||||||
KLA Corp. | |||||||||||||||||||||||||||||||||||
Lam Research Corp. | |||||||||||||||||||||||||||||||||||
NVIDIA Corp. | |||||||||||||||||||||||||||||||||||
Qualcomm Inc. | |||||||||||||||||||||||||||||||||||
Texas Instruments Inc. |
Based on: 10-Q (reporting date: 2025-05-29), 10-Q (reporting date: 2025-02-27), 10-Q (reporting date: 2024-11-28), 10-K (reporting date: 2024-08-29), 10-Q (reporting date: 2024-05-30), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-06-01), 10-Q (reporting date: 2023-03-02), 10-Q (reporting date: 2022-12-01), 10-K (reporting date: 2022-09-01), 10-Q (reporting date: 2022-06-02), 10-Q (reporting date: 2022-03-03), 10-Q (reporting date: 2021-12-02), 10-K (reporting date: 2021-09-02), 10-Q (reporting date: 2021-06-03), 10-Q (reporting date: 2021-03-04), 10-Q (reporting date: 2020-12-03), 10-K (reporting date: 2020-09-03), 10-Q (reporting date: 2020-05-28), 10-Q (reporting date: 2020-02-27), 10-Q (reporting date: 2019-11-28), 10-K (reporting date: 2019-08-29), 10-Q (reporting date: 2019-05-30), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-29).
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 concerning liquidity as reflected by current assets, current liabilities, and the current ratio over the observation period.
- Current Assets
- Current assets generally exhibit a positive growth trend, starting from approximately $15.0 billion and increasing towards $27.9 billion by the latest period. The progression shows periodic fluctuations but maintains an overall upward trajectory, indicating a strengthening asset base available to meet short-term obligations.
- Current Liabilities
- Current liabilities also fluctuate throughout the periods but with less consistency in growth compared to current assets. Beginning near $5.2 billion, liabilities rise and fall, peaking above $10 billion in the most recent period before slightly declining yet remaining elevated above historical averages. This increase in current liabilities suggests a higher volume of short-term obligations.
- Current Ratio
- The current ratio, an indicator of liquidity, fluctuates from a high of 2.9 down to lows around 2.25 before climbing back above 4.0 in two periods, reflecting intervals of strong liquidity. Despite some declines after peaks, the current ratio generally remains above 2.5, which suggests the company maintains a relatively comfortable margin for meeting short-term liabilities. Notably, the ratio shows volatility towards the end of the period, decreasing from above 4.0 to around 2.7, which may indicate changes in working capital management or shifts in asset and liability composition.
In summary, the company's liquidity position has improved in terms of current assets growth outpacing that of current liabilities over the long term. However, the recent decrease in the current ratio, alongside elevated current liabilities, warrants attention to ensure ongoing liquidity stability. These dynamics suggest active financial management in response to evolving operational or market conditions but also signify a need for continued monitoring to sustain adequate short-term financial health.
Quick Ratio
May 29, 2025 | Feb 27, 2025 | Nov 28, 2024 | Aug 29, 2024 | May 30, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | Jun 1, 2023 | Mar 2, 2023 | Dec 1, 2022 | Sep 1, 2022 | Jun 2, 2022 | Mar 3, 2022 | Dec 2, 2021 | Sep 2, 2021 | Jun 3, 2021 | Mar 4, 2021 | Dec 3, 2020 | Sep 3, 2020 | May 28, 2020 | Feb 27, 2020 | Nov 28, 2019 | Aug 29, 2019 | May 30, 2019 | Feb 28, 2019 | Nov 29, 2018 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
Cash and equivalents | |||||||||||||||||||||||||||||||||||
Short-term investments | |||||||||||||||||||||||||||||||||||
Receivables | |||||||||||||||||||||||||||||||||||
Total quick assets | |||||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||||
Quick ratio1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
Advanced Micro Devices Inc. | |||||||||||||||||||||||||||||||||||
Analog Devices Inc. | |||||||||||||||||||||||||||||||||||
Applied Materials Inc. | |||||||||||||||||||||||||||||||||||
Broadcom Inc. | |||||||||||||||||||||||||||||||||||
Intel Corp. | |||||||||||||||||||||||||||||||||||
KLA Corp. | |||||||||||||||||||||||||||||||||||
Lam Research Corp. | |||||||||||||||||||||||||||||||||||
NVIDIA Corp. | |||||||||||||||||||||||||||||||||||
Qualcomm Inc. | |||||||||||||||||||||||||||||||||||
Texas Instruments Inc. |
Based on: 10-Q (reporting date: 2025-05-29), 10-Q (reporting date: 2025-02-27), 10-Q (reporting date: 2024-11-28), 10-K (reporting date: 2024-08-29), 10-Q (reporting date: 2024-05-30), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-06-01), 10-Q (reporting date: 2023-03-02), 10-Q (reporting date: 2022-12-01), 10-K (reporting date: 2022-09-01), 10-Q (reporting date: 2022-06-02), 10-Q (reporting date: 2022-03-03), 10-Q (reporting date: 2021-12-02), 10-K (reporting date: 2021-09-02), 10-Q (reporting date: 2021-06-03), 10-Q (reporting date: 2021-03-04), 10-Q (reporting date: 2020-12-03), 10-K (reporting date: 2020-09-03), 10-Q (reporting date: 2020-05-28), 10-Q (reporting date: 2020-02-27), 10-Q (reporting date: 2019-11-28), 10-K (reporting date: 2019-08-29), 10-Q (reporting date: 2019-05-30), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-29).
1 Q3 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total quick assets
- The total quick assets exhibited moderate fluctuations over the analyzed period. Starting at approximately 10,981 million US dollars in late 2018, the amount slightly decreased and increased intermittently, peaking notably around 18,247 million US dollars by mid-2025. A general upward trend is observed in the later periods, particularly after early 2023, despite some declines in late 2022 and early 2023.
- Current liabilities
- Current liabilities showed significant volatility throughout the periods under review. Beginning at 5,189 million US dollars in late 2018, current liabilities peaked several times with the highest values recorded near 10,135 million US dollars in mid-2025. Notably, there was a marked increase in liabilities around late 2024 and into 2025, indicating a rising short-term obligation profile. Prior to this, liabilities tended to fluctuate between roughly 4,700 and 7,500 million US dollars with no consistent upward or downward trend.
- Quick ratio
- The quick ratio, which measures liquidity, showed a general range between 1.59 and 2.53 over the course of the reporting periods. The ratio declined from 2.12 in late 2018 to a low of 1.62 in early 2019, showing some stress in liquidity early on. It then improved and mostly remained above 2.0 until late 2023, reaching a peak of 2.53 in mid-2023, indicating solid short-term financial health during that span. However, from late 2023 onward, the ratio gradually declined, reaching approximately 1.8 by mid-2025. This downward movement suggests a slight deterioration in liquidity, possibly associated with the increased current liabilities observed in the same timeframe.
- Overall analysis
- The data reveals that the company consistently maintained quick assets well above current liabilities for most periods, contributing to a generally healthy liquidity position until about 2023. The growth in quick assets over time supports increasing liquid assets available to meet short-term obligations. The spike in current liabilities in the final periods, alongside a decreasing quick ratio, points to growing short-term financial commitments that may put pressure on liquidity if not managed carefully. The decline in the quick ratio despite stable to increased quick assets suggests that the rise in liabilities outpaced quick asset growth in later periods.
Cash Ratio
May 29, 2025 | Feb 27, 2025 | Nov 28, 2024 | Aug 29, 2024 | May 30, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | Jun 1, 2023 | Mar 2, 2023 | Dec 1, 2022 | Sep 1, 2022 | Jun 2, 2022 | Mar 3, 2022 | Dec 2, 2021 | Sep 2, 2021 | Jun 3, 2021 | Mar 4, 2021 | Dec 3, 2020 | Sep 3, 2020 | May 28, 2020 | Feb 27, 2020 | Nov 28, 2019 | Aug 29, 2019 | May 30, 2019 | Feb 28, 2019 | Nov 29, 2018 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
Cash and equivalents | |||||||||||||||||||||||||||||||||||
Short-term investments | |||||||||||||||||||||||||||||||||||
Total cash assets | |||||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||||
Cash ratio1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
Advanced Micro Devices Inc. | |||||||||||||||||||||||||||||||||||
Analog Devices Inc. | |||||||||||||||||||||||||||||||||||
Applied Materials Inc. | |||||||||||||||||||||||||||||||||||
Broadcom Inc. | |||||||||||||||||||||||||||||||||||
Intel Corp. | |||||||||||||||||||||||||||||||||||
KLA Corp. | |||||||||||||||||||||||||||||||||||
Lam Research Corp. | |||||||||||||||||||||||||||||||||||
NVIDIA Corp. | |||||||||||||||||||||||||||||||||||
Qualcomm Inc. | |||||||||||||||||||||||||||||||||||
Texas Instruments Inc. |
Based on: 10-Q (reporting date: 2025-05-29), 10-Q (reporting date: 2025-02-27), 10-Q (reporting date: 2024-11-28), 10-K (reporting date: 2024-08-29), 10-Q (reporting date: 2024-05-30), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-06-01), 10-Q (reporting date: 2023-03-02), 10-Q (reporting date: 2022-12-01), 10-K (reporting date: 2022-09-01), 10-Q (reporting date: 2022-06-02), 10-Q (reporting date: 2022-03-03), 10-Q (reporting date: 2021-12-02), 10-K (reporting date: 2021-09-02), 10-Q (reporting date: 2021-06-03), 10-Q (reporting date: 2021-03-04), 10-Q (reporting date: 2020-12-03), 10-K (reporting date: 2020-09-03), 10-Q (reporting date: 2020-05-28), 10-Q (reporting date: 2020-02-27), 10-Q (reporting date: 2019-11-28), 10-K (reporting date: 2019-08-29), 10-Q (reporting date: 2019-05-30), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-29).
1 Q3 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total Cash Assets
- The total cash assets show noticeable fluctuations over the observed periods. Starting at $5,563 million in late 2018, there is an overall upward trajectory peaking at $10,811 million in May 2025. Noteworthy is a significant increase from early 2019 through mid-2022, where cash assets nearly doubled. After that peak, a slight decline occurs, followed by an uptick toward the end of the timeline. The data indicate cyclical changes but with a long-term growth in liquidity reserves.
- Current Liabilities
- Current liabilities exhibit a more volatile pattern compared to cash assets. Beginning at $5,189 million in late 2018, liabilities initially rise sharply before experiencing several ups and downs through 2020. A declining trend is observed in 2021 and early 2022, reaching a low point around March 2023 at $4,765 million. However, liabilities increase markedly again after this period, reaching the highest levels near $10,135 million by May 2025. The fluctuations suggest variable short-term obligations, with significant increases in the most recent quarters.
- Cash Ratio
- The cash ratio remains generally above 1.0 for most periods, indicating that cash assets usually exceed current liabilities. It begins at 1.07 and maintains values around or above 1.2 until early 2023. The ratio peaks during early 2023 at slightly above 2.0, reflecting a strong liquidity position relative to liabilities. However, from mid-2024 onwards, there is a noticeable decline in the ratio, dropping below 1.0 in late 2024 and early 2025 before slightly recovering to about 1.07 by May 2025. This decrease suggests weakening liquidity coverage relative to current obligations toward the end of the data set, despite the overall increase in cash assets.
- Summary of Trends
- Overall, the company demonstrates growth in total cash assets over the observed period, enhancing liquidity reserves. Current liabilities show considerable volatility with a significant increase in recent quarters, which compresses the cash ratio in the last year observed. The cash ratio highlights a generally strong liquidity position, though recent declines indicate emerging challenges in maintaining cash coverage of short-term liabilities. The data suggest a need to monitor the balance between liquidity and obligations closely, especially given the rising current liabilities in the latest periods.