Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Micron Technology Inc., liquidity ratios (quarterly data)
Based on: 10-K (reporting date: 2026-09-03), 10-Q (reporting date: 2026-05-28), 10-Q (reporting date: 2026-02-26), 10-Q (reporting date: 2025-11-27), 10-K (reporting date: 2025-08-28), 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).
The liquidity profile of the organization exhibits a cyclical pattern characterized by a significant peak in 2023, a subsequent contraction through 2024 and 2025, and a recovery phase entering 2026. Throughout the analyzed period, the company maintained a strong capacity to meet its short-term obligations, with all primary liquidity indicators remaining well above critical thresholds, although the margin of safety fluctuated considerably.
- Current Ratio Analysis
- The current ratio demonstrated substantial volatility, starting at 3.10 in December 2021 and reaching a peak of 4.46 by August 2023. A notable decline followed, with the ratio dropping to a period low of 2.46 by November 2025. However, a recovery trend is evident in the final quarters, concluding at 3.31 in September 2026. The consistently high values indicate a conservative approach to liquidity management, ensuring that current assets significantly exceed current liabilities.
- Quick Ratio Analysis
- The quick ratio closely mirrors the trajectory of the current ratio, peaking at 2.53 in August 2023 before descending to a low of 1.59 in August 2024. The recovery toward the end of the period is pronounced, reaching 2.90 by September 2026. The gap between the current and quick ratios suggests that while inventory contributes to overall liquidity, the organization maintains a strong ability to cover liabilities using only its most liquid assets.
- Cash Ratio Analysis
- The cash ratio exhibited the most significant fluctuations and the lowest overall values among the three metrics. After peaking at 2.06 in March 2023, the ratio experienced a downward trend, falling below the 1.0 threshold multiple times, with lows of 0.84 in November 2023 and 0.86 in November 2025. A sharp increase is observed in the final quarters, ending at 1.58 in September 2026. This pattern suggests periods of intensified cash expenditure or strategic reallocation of cash reserves into other asset classes.
A comparative analysis of the three ratios reveals that the organization's liquidity is heavily supported by non-cash current assets during the mid-period troughs. The divergence between the current ratio and the cash ratio during 2024 and 2025 highlights an increased reliance on receivables and inventory to maintain liquidity. The synchronized upturn across all three metrics toward the end of 2026 indicates a comprehensive strengthening of the short-term financial position.
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Current Ratio
Micron Technology Inc., current ratio calculation (quarterly data)
| Sep 3, 2026 | May 28, 2026 | Feb 26, 2026 | Nov 27, 2025 | Aug 28, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 91,070) | 66,737) | 41,413) | 29,665) | 28,841) | 27,919) | 24,689) | 24,493) | 24,372) | 23,319) | 23,435) | 21,058) | 21,244) | 21,734) | 21,898) | 22,921) | 21,781) | 22,708) | 21,502) | 20,191) | ||||||
| Current liabilities | 27,482) | 19,488) | 14,296) | 12,060) | 11,454) | 10,135) | 7,877) | 9,015) | 9,248) | 6,840) | 6,259) | 5,962) | 4,765) | 5,104) | 5,255) | 6,525) | 7,539) | 7,009) | 6,918) | 6,512) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Current ratio1 | 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 | ||||||
| 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. | 2.88 | 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 | ||||||
| Lam Research Corp. | 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 | ||||||
| Marvell Technology Inc. | 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 | ||||||
| NVIDIA Corp. | 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-K (reporting date: 2026-09-03), 10-Q (reporting date: 2026-05-28), 10-Q (reporting date: 2026-02-26), 10-Q (reporting date: 2025-11-27), 10-K (reporting date: 2025-08-28), 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).
1 Q4 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 91,070 ÷ 27,482 = 3.31
2 Click competitor name to see calculations.
Analysis of the liquidity position reveals a consistently strong ability to cover short-term obligations, with the current ratio remaining above 2.40 throughout the entire observed period. The financial trajectory is characterized by three distinct phases: a peak in liquidity during 2023, a period of compression in 2024, and an unprecedented expansion of the balance sheet starting in early 2026.
- Current Asset Trajectory
- Current assets exhibited steady, moderate growth from December 2021 ($20,191 million) through November 2025 ($29,665 million). A significant acceleration occurred in the first half of 2026, where assets surged to $41,413 million in February, $66,737 million in May, and finally reached $91,070 million by September 2026. This represents a rapid escalation in short-term resource accumulation.
- Current Liability Trends
- Short-term obligations remained relatively contained between $4,765 million and $9,248 million from late 2021 through late 2024. Starting in February 2026, liabilities began a sharp upward trend, increasing from $14,296 million to $27,482 million by September 2026. This increase in liabilities occurred in tandem with the asset expansion, suggesting a significant scaling of operations or financing activities.
- Current Ratio Dynamics
- The current ratio peaked at 4.46 in August 2023, a period coinciding with the lowest recorded current liabilities ($4,765 million). A downward trend followed throughout 2024, with the ratio reaching a period low of 2.64 in May 2024 as liabilities increased. In the final year of the analysis, the ratio demonstrated recovery and stabilization, ending at 3.31 in September 2026. This indicates that the growth in current assets significantly outpaced the growth in current liabilities during the 2026 expansion phase, preserving a high margin of safety.
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Quick Ratio
Micron Technology Inc., quick ratio calculation (quarterly data)
| Sep 3, 2026 | May 28, 2026 | Feb 26, 2026 | Nov 27, 2025 | Aug 28, 2025 | May 29, 2025 | Feb 27, 2025 | Nov 28, 2024 | Aug 29, 2024 | May 30, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | Jun 1, 2023 | Mar 2, 2023 | Dec 1, 2022 | Sep 1, 2022 | Jun 2, 2022 | Mar 3, 2022 | Dec 2, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 38,364) | 24,995) | 13,908) | 9,731) | 9,642) | 10,163) | 7,552) | 6,693) | 7,041) | 7,594) | 8,016) | 8,075) | 8,577) | 9,298) | 9,798) | 9,574) | 8,262) | 9,157) | 9,116) | 8,680) | ||||||
| Short-term investments | 5,070) | 1,027) | 681) | 587) | 665) | 648) | 663) | 895) | 1,065) | 785) | 990) | 973) | 1,017) | 1,054) | 1,020) | 1,007) | 1,069) | 1,070) | 1,006) | 900) | ||||||
| Receivables | 36,197) | 31,025) | 17,314) | 10,184) | 9,265) | 7,436) | 6,504) | 7,423) | 6,615) | 5,131) | 4,296) | 2,943) | 2,443) | 2,429) | 2,278) | 3,318) | 5,130) | 6,229) | 5,384) | 5,250) | ||||||
| Total quick assets | 79,631) | 57,047) | 31,903) | 20,502) | 19,572) | 18,247) | 14,719) | 15,011) | 14,721) | 13,510) | 13,302) | 11,991) | 12,037) | 12,781) | 13,096) | 13,899) | 14,461) | 16,456) | 15,506) | 14,830) | ||||||
| Current liabilities | 27,482) | 19,488) | 14,296) | 12,060) | 11,454) | 10,135) | 7,877) | 9,015) | 9,248) | 6,840) | 6,259) | 5,962) | 4,765) | 5,104) | 5,255) | 6,525) | 7,539) | 7,009) | 6,918) | 6,512) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Quick ratio1 | 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 | ||||||
| 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. | 1.81 | 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 | ||||||
| Lam Research Corp. | 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 | ||||||
| Marvell Technology Inc. | 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 | ||||||
| NVIDIA Corp. | 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-K (reporting date: 2026-09-03), 10-Q (reporting date: 2026-05-28), 10-Q (reporting date: 2026-02-26), 10-Q (reporting date: 2025-11-27), 10-K (reporting date: 2025-08-28), 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).
1 Q4 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 79,631 ÷ 27,482 = 2.90
2 Click competitor name to see calculations.
The liquidity profile of the entity exhibits three distinct phases: a period of relative stability with high liquidity, a subsequent contraction leading to a multi-year low, and a final phase of aggressive asset expansion that significantly strengthened the short-term solvency position.
- Quick Asset Dynamics
- Total quick assets remained relatively stable between December 2021 and November 2023, fluctuating within a range of approximately 12 billion to 16.5 billion US dollars. A gradual recovery began in early 2024, followed by an exponential increase starting in February 2026, where assets rose from 31.9 billion to a peak of 79.6 billion US dollars by September 2026.
- Current Liability Trends
- Current liabilities showed moderate volatility from 2021 through 2024, generally oscillating between 4.7 billion and 9.2 billion US dollars. Starting in February 2026, liabilities experienced a sharp upward trajectory, increasing from 14.3 billion to 27.5 billion US dollars by the end of the analyzed period, indicating a significant expansion in short-term obligations.
- Quick Ratio Interpretation
- The quick ratio maintained a strong position above 2.0 for much of the 2021-2023 period, peaking at 2.53 in August 2023. A downward trend occurred throughout 2024, reaching a minimum of 1.59 in August 2024, which suggests a temporary tightening of liquid resources relative to current obligations. However, a substantial reversal occurred in 2026, with the ratio climbing to 2.90. This indicates that the growth in liquid assets significantly outpaced the growth in current liabilities, resulting in a highly robust liquidity cushion by September 2026.
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Cash Ratio
Micron Technology Inc., cash ratio calculation (quarterly data)
| Sep 3, 2026 | May 28, 2026 | Feb 26, 2026 | Nov 27, 2025 | Aug 28, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 38,364) | 24,995) | 13,908) | 9,731) | 9,642) | 10,163) | 7,552) | 6,693) | 7,041) | 7,594) | 8,016) | 8,075) | 8,577) | 9,298) | 9,798) | 9,574) | 8,262) | 9,157) | 9,116) | 8,680) | ||||||
| Short-term investments | 5,070) | 1,027) | 681) | 587) | 665) | 648) | 663) | 895) | 1,065) | 785) | 990) | 973) | 1,017) | 1,054) | 1,020) | 1,007) | 1,069) | 1,070) | 1,006) | 900) | ||||||
| Total cash assets | 43,434) | 26,022) | 14,589) | 10,318) | 10,307) | 10,811) | 8,215) | 7,588) | 8,106) | 8,379) | 9,006) | 9,048) | 9,594) | 10,352) | 10,818) | 10,581) | 9,331) | 10,227) | 10,122) | 9,580) | ||||||
| Current liabilities | 27,482) | 19,488) | 14,296) | 12,060) | 11,454) | 10,135) | 7,877) | 9,015) | 9,248) | 6,840) | 6,259) | 5,962) | 4,765) | 5,104) | 5,255) | 6,525) | 7,539) | 7,009) | 6,918) | 6,512) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Cash ratio1 | 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 | ||||||
| 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. | 1.14 | 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 | ||||||
| Lam Research Corp. | 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 | ||||||
| Marvell Technology Inc. | 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 | ||||||
| NVIDIA Corp. | 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-K (reporting date: 2026-09-03), 10-Q (reporting date: 2026-05-28), 10-Q (reporting date: 2026-02-26), 10-Q (reporting date: 2025-11-27), 10-K (reporting date: 2025-08-28), 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).
1 Q4 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 43,434 ÷ 27,482 = 1.58
2 Click competitor name to see calculations.
The cash ratio exhibits a volatile trajectory over the analyzed period, characterized by an initial phase of high liquidity, a mid-term contraction, and a final period of aggressive cash accumulation. The ratio fluctuated from a peak of 2.06 in early 2023 to a low of 0.84 in late 2024, before recovering to 1.58 by September 2026.
- Initial Stability and Peak Liquidity (December 2021 – June 2023)
- A period of strong liquidity is observed, with the cash ratio remaining consistently above 1.24. The ratio peaked at 2.06 in March 2023, driven by the combination of stable cash assets maintained around $10 billion and a significant reduction in current liabilities, which dropped from $6.5 billion in December 2021 to a low of $5.1 billion by June 2023.
- Liquidity Contraction (September 2023 – November 2024)
- A pronounced downward trend occurred during this interval, with the cash ratio declining from 2.01 to a trough of 0.84. This deterioration in the immediate liquidity position resulted from a dual pressure: total cash assets decreased from $9.5 billion to $7.5 billion, while current liabilities increased, peaking at $9.2 billion in August 2024. This suggests a period where short-term obligations grew while liquid reserves were depleted.
- Rapid Recovery and Cash Expansion (February 2025 – September 2026)
- A significant reversal in the trend is evident starting in early 2025. While the ratio initially fluctuated around the 1.0 mark, a massive surge in cash assets began in February 2026. Total cash assets rose exponentially from $8.2 billion in February 2025 to $43.4 billion by September 2026. Although current liabilities also increased during this period, reaching $27.4 billion, the rate of cash accumulation far outpaced the growth of liabilities, resulting in the cash ratio climbing to 1.58 by the end of the period.
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