Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
NVIDIA Corp., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-10-26), 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-K (reporting date: 2025-01-26), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26).
- Current Ratio
- The current ratio exhibited a general downward trend from a peak of 10.29 in April 2020 to values fluctuating mostly between approximately 3.3 and 4.5 in the period from early 2022 through late 2025. Initially, a steep decline was observed between April 2020 and October 2020, dropping from 10.29 to 3.92, followed by a phase of moderate recovery and stabilization through early 2022. After mid-2022, the ratio stabilized within a narrower range, indicating a more consistent ability to cover short-term liabilities with current assets. Peaks in the ratio, such as 7.14 in October 2021 and 4.47 in October 2025, suggest occasional improvements in liquidity.
- Quick Ratio
- The quick ratio mirrored the pattern of the current ratio but consistently registered slightly lower values, reflecting the exclusion of inventory in its calculation. It began at 9.6 in April 2020, decreasing sharply to 3.46 by October 2020. Subsequently, the ratio showed oscillations with modest peaks around 6.44 in October 2021 and a general stabilization between 2.5 and 3.6 through late 2025. The quick ratio’s behavior suggests a stable but lower liquid asset base relative to current liabilities compared to the current ratio, maintaining sufficient liquidity excluding inventories.
- Cash Ratio
- The cash ratio demonstrated the most pronounced decline over the period, starting at a high level of 8.59 in April 2020 and dropping sharply to 2.76 by October 2020. Thereafter, it followed a generally decreasing and more variable pattern, frequently ranging between 1.5 and 2.5. Notable troughs appeared around mid-2023, with a low of 1.55, followed by partial recoveries to just under 2.5 by the end of the analyzed period. This trend indicates a reduction in the company’s absolute cash and cash equivalents relative to current liabilities, reflecting a lower immediate liquidity buffer compared to the other ratios.
- Summary of Liquidity Trends
- All three liquidity ratios started at unusually high levels in early 2020, indicative of exceptionally strong short-term financial positions at that time. The sharp decreases between April and October 2020 suggest adjustments in asset structure or increased current liabilities during that period. Following this correction, all ratios largely stabilized, albeit at lower levels, indicating a more normalized and sustainable liquidity position. The current and quick ratios imply the company retains the ability to meet short-term obligations effectively, while the lower cash ratio reflects a reduced emphasis on holding large cash reserves, potentially reallocating resources to other operational or investment needs. Overall, liquidity metrics show a transition from very high to moderate levels, consistent with stable financial management in recent quarters.
Current Ratio
NVIDIA Corp., current ratio calculation (quarterly data)
| Oct 26, 2025 | Jul 27, 2025 | Apr 27, 2025 | Jan 26, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 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 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Current assets | 116,492) | 102,219) | 89,935) | 80,126) | 67,640) | 59,633) | 53,729) | 44,345) | 32,658) | 28,797) | 24,883) | 23,073) | 23,223) | 27,418) | 29,575) | 28,829) | 25,806) | 25,806) | 18,127) | 16,055) | 14,393) | 14,681) | 19,584) | |||||||
| Current liabilities | 26,075) | 24,257) | 26,542) | 18,047) | 16,479) | 13,969) | 15,223) | 10,631) | 9,101) | 10,334) | 7,260) | 6,563) | 6,855) | 7,573) | 5,562) | 4,335) | 3,612) | 4,448) | 4,004) | 3,925) | 3,669) | 2,410) | 1,903) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||||
| Current ratio1 | 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 | 4.09 | 3.92 | 6.09 | 10.29 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | — | — | — | 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 | 2.02 | 2.24 | 2.70 | 2.51 | |||||||
| Analog Devices Inc. | — | — | — | 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 | 1.94 | 1.11 | 1.05 | 1.57 | |||||||
| Applied Materials Inc. | — | — | — | 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 | 2.54 | 2.98 | 3.10 | 3.17 | |||||||
| Broadcom Inc. | — | — | — | 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 | 2.64 | 2.41 | 2.21 | 2.14 | |||||||
| Intel Corp. | — | — | — | 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. | — | 2.83 | 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 | 2.71 | 2.66 | 2.59 | 2.72 | |||||||
| Lam Research Corp. | — | 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 | 3.30 | 3.13 | 3.19 | 3.31 | |||||||
| Micron Technology Inc. | — | — | 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 | 3.10 | 3.40 | 3.18 | 2.91 | |||||||
| Qualcomm Inc. | — | — | — | 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 | 1.68 | 1.72 | 2.02 | 2.15 | |||||||
| Texas Instruments Inc. | — | — | — | — | 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 | 5.33 | 5.63 | 5.08 | 6.12 | |||||||
Based on: 10-Q (reporting date: 2025-10-26), 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-K (reporting date: 2025-01-26), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26).
1 Q3 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 116,492 ÷ 26,075 = 4.47
2 Click competitor name to see calculations.
- Current assets
- The current assets demonstrate a consistent upward trend over the observed periods. Starting at approximately 19.6 billion US dollars in April 2020, current assets generally increased with some short-term fluctuations. Notably, from early 2024 onward, there is a sharp increase, reaching over 116 billion US dollars by October 2025. This indicates a substantial strengthening of liquid or near-liquid resources available to cover short-term obligations.
- Current liabilities
- Current liabilities show a rising pattern as well, though with comparatively more volatility. Beginning near 1.9 billion US dollars in April 2020, liabilities oscillated and generally increased, reaching around 26 billion US dollars by late 2025. The pace of increase is less steep than that of current assets, but the consistent growth signals increasing short-term obligations over time.
- Current ratio
- The current ratio exhibits a declining trend from a very high level of approximately 10.3 in early 2020 to values fluctuating between about 2.8 and 7.1 during the intermediate years. After a low point near 2.8 in April 2023, the ratio recovers to more stable levels around 3.4 to 4.5 through 2024 and 2025. Despite this reduction from the initial values, the current ratio remains comfortably above 1, indicating ongoing adequate coverage of current liabilities by current assets. The initial exceptionally high current ratio suggests either a conservative asset management or low short-term liabilities at the start, both of which normalized over time.
- Summary and insights
- The data reveals strong growth in both current assets and liabilities, with assets growing at a faster pace, leading to a generally healthy current ratio above the standard benchmark of 1. This implies effective liquidity management despite the expanding scale of operations. The fluctuations in the current ratio suggest changes in working capital management or short-term debt levels, but no indication of liquidity distress is present. The sharp asset growth beginning in 2024 may reflect operational scaling, strategic investments, or accumulation of cash and equivalents. Overall, the financial position appears solid with improvements in liquidity maintenance amid increasing liabilities.
Quick Ratio
NVIDIA Corp., quick ratio calculation (quarterly data)
| Oct 26, 2025 | Jul 27, 2025 | Apr 27, 2025 | Jan 26, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 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 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Cash and cash equivalents | 11,486) | 11,639) | 15,234) | 8,589) | 9,107) | 8,563) | 7,587) | 7,280) | 5,519) | 5,783) | 5,079) | 3,389) | 2,800) | 3,013) | 3,887) | 1,990) | 1,288) | 5,628) | 978) | 847) | 2,251) | 3,274) | 15,494) | |||||||
| Marketable securities | 49,122) | 45,152) | 38,457) | 34,621) | 29,380) | 26,237) | 23,851) | 18,704) | 12,762) | 10,240) | 10,241) | 9,907) | 10,343) | 14,024) | 16,451) | 19,218) | 18,010) | 14,026) | 11,689) | 10,714) | 7,888) | 7,707) | 860) | |||||||
| Accounts receivable, net | 33,391) | 27,808) | 22,132) | 23,065) | 17,693) | 14,132) | 12,365) | 9,999) | 8,309) | 7,066) | 4,080) | 3,827) | 4,908) | 5,317) | 5,438) | 4,650) | 3,954) | 3,586) | 3,024) | 2,429) | 2,546) | 2,084) | 1,907) | |||||||
| Total quick assets | 93,999) | 84,599) | 75,823) | 66,275) | 56,180) | 48,932) | 43,803) | 35,983) | 26,590) | 23,089) | 19,400) | 17,123) | 18,051) | 22,354) | 25,776) | 25,858) | 23,252) | 23,240) | 15,691) | 13,990) | 12,685) | 13,065) | 18,261) | |||||||
| Current liabilities | 26,075) | 24,257) | 26,542) | 18,047) | 16,479) | 13,969) | 15,223) | 10,631) | 9,101) | 10,334) | 7,260) | 6,563) | 6,855) | 7,573) | 5,562) | 4,335) | 3,612) | 4,448) | 4,004) | 3,925) | 3,669) | 2,410) | 1,903) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||||
| Quick ratio1 | 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 | 3.56 | 3.46 | 5.42 | 9.60 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | — | — | — | 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 | 1.49 | 1.64 | 2.01 | 1.85 | |||||||
| Analog Devices Inc. | — | — | — | 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 | 1.24 | 0.82 | 0.76 | 1.12 | |||||||
| Applied Materials Inc. | — | — | — | 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 | 1.64 | 2.02 | 2.10 | 2.15 | |||||||
| Broadcom Inc. | — | — | — | 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 | 2.27 | 2.05 | 1.86 | 1.80 | |||||||
| Intel Corp. | — | — | — | 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. | — | 1.83 | 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 | 1.81 | 1.80 | 1.74 | 1.76 | |||||||
| Lam Research Corp. | — | 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 | 2.11 | 1.79 | 1.83 | 1.89 | |||||||
| Micron Technology Inc. | — | — | 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 | 2.17 | 2.30 | 1.94 | 1.89 | |||||||
| Qualcomm Inc. | — | — | — | 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 | 1.34 | 1.38 | 1.64 | 1.78 | |||||||
| Texas Instruments Inc. | — | — | — | — | 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 | 4.45 | 4.74 | 4.08 | 4.86 | |||||||
Based on: 10-Q (reporting date: 2025-10-26), 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-K (reporting date: 2025-01-26), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26).
1 Q3 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 93,999 ÷ 26,075 = 3.60
2 Click competitor name to see calculations.
- Total Quick Assets
- The total quick assets display a general upward trend over the periods analyzed. Starting at approximately 18.3 billion USD in April 2020, quick assets initially decreased to around 12.7 billion USD by October 2020. From that point onwards, a consistent increase is observed, with figures reaching about 94.0 billion USD by October 2025. This growth indicates a strengthening liquidity position over time, with particularly notable accelerations after January 2024.
- Current Liabilities
- Current liabilities exhibit a steady increase throughout the periods, beginning at roughly 1.9 billion USD in April 2020 and rising to about 26.1 billion USD by October 2025. The trend includes some fluctuations, such as temporary decreases between August 2021 and October 2021 and between July 2025 and October 2025, but the overall trajectory is upward. The increase in current liabilities reflects growing short-term obligations held by the company.
- Quick Ratio
- The quick ratio, which measures the ability to cover current liabilities without relying on inventory, shows significant variability. Initially, the ratio starts very high at 9.6 in April 2020, declines sharply to a low of 2.6 by October 2022, indicating a relative decrease in liquid assets compared to short-term obligations. Following this low, the quick ratio stabilizes and fluctuates in the range between 2.6 and 3.7 from late 2022 onwards. Despite some volatility, the ratio remains at comfortable levels above 2.5 in recent periods, suggesting maintained liquidity adequacy relative to current liabilities.
- Overall Insights
- The trends suggest that while current liabilities have increased substantially, total quick assets have grown at an even greater pace, resulting in a generally stable and adequate quick ratio. This pattern implies improved liquidity over the longer term, although the decrease in the quick ratio from very high previous levels reflects more balanced asset and liability management. The growth in quick assets outpacing liabilities may signal increased cash or near-cash resources available to meet short-term obligations efficiently.
Cash Ratio
NVIDIA Corp., cash ratio calculation (quarterly data)
| Oct 26, 2025 | Jul 27, 2025 | Apr 27, 2025 | Jan 26, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 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 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Cash and cash equivalents | 11,486) | 11,639) | 15,234) | 8,589) | 9,107) | 8,563) | 7,587) | 7,280) | 5,519) | 5,783) | 5,079) | 3,389) | 2,800) | 3,013) | 3,887) | 1,990) | 1,288) | 5,628) | 978) | 847) | 2,251) | 3,274) | 15,494) | |||||||
| Marketable securities | 49,122) | 45,152) | 38,457) | 34,621) | 29,380) | 26,237) | 23,851) | 18,704) | 12,762) | 10,240) | 10,241) | 9,907) | 10,343) | 14,024) | 16,451) | 19,218) | 18,010) | 14,026) | 11,689) | 10,714) | 7,888) | 7,707) | 860) | |||||||
| Total cash assets | 60,608) | 56,791) | 53,691) | 43,210) | 38,487) | 34,800) | 31,438) | 25,984) | 18,281) | 16,023) | 15,320) | 13,296) | 13,143) | 17,037) | 20,338) | 21,208) | 19,298) | 19,654) | 12,667) | 11,561) | 10,139) | 10,981) | 16,354) | |||||||
| Current liabilities | 26,075) | 24,257) | 26,542) | 18,047) | 16,479) | 13,969) | 15,223) | 10,631) | 9,101) | 10,334) | 7,260) | 6,563) | 6,855) | 7,573) | 5,562) | 4,335) | 3,612) | 4,448) | 4,004) | 3,925) | 3,669) | 2,410) | 1,903) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||||
| Cash ratio1 | 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 | 2.95 | 2.76 | 4.56 | 8.59 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | — | — | — | 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 | 0.85 | 1.01 | 1.31 | 1.09 | |||||||
| Analog Devices Inc. | — | — | — | 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 | 0.71 | 0.53 | 0.47 | 0.63 | |||||||
| Applied Materials Inc. | — | — | — | 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 | 0.86 | 1.27 | 1.40 | 1.47 | |||||||
| Broadcom Inc. | — | — | — | 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 | 1.94 | 1.71 | 1.48 | 1.43 | |||||||
| Intel Corp. | — | — | — | 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. | — | 1.31 | 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 | 1.19 | 1.20 | 1.14 | 1.17 | |||||||
| Lam Research Corp. | — | 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 | 1.25 | 1.02 | 1.03 | 1.21 | |||||||
| Micron Technology Inc. | — | — | 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 | 1.34 | 1.53 | 1.32 | 1.24 | |||||||
| Qualcomm Inc. | — | — | — | 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 | 1.04 | 1.13 | 1.27 | 1.33 | |||||||
| Texas Instruments Inc. | — | — | — | — | 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 | 3.79 | 4.05 | 3.36 | 3.93 | |||||||
Based on: 10-Q (reporting date: 2025-10-26), 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-K (reporting date: 2025-01-26), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26).
1 Q3 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 60,608 ÷ 26,075 = 2.32
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several important trends and shifts in the company's liquidity position over the observed periods.
- Total Cash Assets
- Total cash assets have exhibited a generally upward trend with fluctuations throughout the quarters. Starting at approximately 16.4 billion US dollars in April 2020, cash assets experienced a decline reaching a low around 10.1 billion in late 2020. This was followed by a strong recovery and sustained growth, with cash balances increasing significantly, particularly from early 2023 onward. By October 2025, total cash assets more than tripled the initial value, reaching over 60.6 billion US dollars. This indicates a substantial strengthening in the cash position over the longer term.
- Current Liabilities
- Current liabilities have shown a pattern of consistent increase over the same period but at a different growth pace and with more variability. Beginning around 1.9 billion US dollars in April 2020, current liabilities rose steadily with peaks and troughs but remained below 4.5 billion until mid-2021. From 2022 onwards, liabilities increased sharply, doubling and tripling over short spans, peaking beyond 26 billion US dollars by October 2025. Despite this sharp rise, the company’s ability to manage short-term obligations appears to have been maintained given its cash asset growth.
- Cash Ratio
- The cash ratio, which measures liquidity as cash and equivalents relative to current liabilities, ranged widely during the period. Initially very high at 8.59 in early 2020, it declined gradually as current liabilities increased faster than cash assets in certain periods. However, the ratio mostly remained above 1.5 throughout, reflecting a strong liquidity position overall. There were intermittent decreases to around 1.55 and 1.92, suggesting periods of tighter liquidity, but the ratio rebounded regularly, stabilizing at just above 2.3 toward the end of the dataset. This level suggests that cash assets consistently exceeded current liabilities by over double, signalling prudent liquidity management.
In summary, the company demonstrated robust growth in cash assets coupled with rising current liabilities. Despite significant increases in liabilities, especially in the latter years, the liquidity ratios indicate the company retained a strong capacity to meet short-term obligations. The volatility in the cash ratio reflects dynamic cash management practices aligned with operational needs and possibly investment activities. Overall, the financial position as relevant to liquidity appears stable and improving over the long term.