Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Palo Alto Networks Inc., liquidity ratios (quarterly data)
Based on: 10-K (reporting date: 2026-07-31), 10-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31).
The liquidity profile exhibits a general strengthening trend in solvency capacity from late 2021 through early 2026, followed by a moderate contraction in the final quarters. While the company operated with a current ratio below 1.0 for the majority of the analyzed period, there is a clear trajectory toward improving the coverage of short-term obligations.
- Current Ratio Trends
- The current ratio began at 0.68 in October 2021 and demonstrated a gradual, though non-linear, ascent. A period of steady growth is observed between July 2023 (0.78) and January 2026, where the ratio peaked at 1.04, marking the only instance where current assets exceeded current liabilities. However, a subsequent decline occurred in early 2026, with the ratio settling at 0.87 by July 2026.
- Quick Ratio Analysis
- The quick ratio closely mirrors the movement of the current ratio, starting at 0.64 and peaking at 0.97 in January 2026 before declining to 0.79. The minimal variance between the current and quick ratios indicates that inventory levels do not significantly impact the company's liquidity position, suggesting a business model with low reliance on physical stock to meet short-term debts.
- Cash Ratio Volatility
- The cash ratio exhibits the highest degree of volatility among the three metrics. After starting at 0.48, it reached a significant low of 0.31 in July 2023. A recovery phase followed, with the ratio peaking at 0.57 in January 2026. This was followed by a sharp downward trend, returning to 0.31 by July 2026, which suggests periodic fluctuations in cash reserves or strategic shifts in cash deployment relative to current liabilities.
Overall, the convergence of the current and quick ratios highlights a liquidity structure driven primarily by highly liquid assets. Although the company reached a threshold of short-term solvency in early 2026, the subsequent dip indicates a return to a liquidity position where current liabilities exceed current assets.
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Current Ratio
Palo Alto Networks Inc., current ratio calculation (quarterly data)
| Jul 31, 2026 | Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 8,643) | 7,713) | 8,369) | 7,310) | 7,523) | 6,899) | 6,340) | 6,243) | 6,850) | 5,919) | 6,447) | 6,478) | 6,048) | 6,414) | 5,406) | 5,734) | 6,415) | 5,698) | 4,869) | 4,839) | ||||||
| Current liabilities | 9,923) | 9,006) | 8,009) | 7,418) | 7,988) | 7,706) | 7,552) | 7,403) | 7,683) | 7,085) | 7,766) | 7,513) | 7,738) | 8,641) | 8,475) | 8,195) | 8,306) | 7,677) | 7,406) | 7,144) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Current ratio1 | 0.87 | 0.86 | 1.04 | 0.99 | 0.94 | 0.90 | 0.84 | 0.84 | 0.89 | 0.84 | 0.83 | 0.86 | 0.78 | 0.74 | 0.64 | 0.70 | 0.77 | 0.74 | 0.66 | 0.68 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||
| Accenture PLC | — | 1.34 | 1.34 | 1.41 | 1.42 | 1.46 | 1.48 | 1.47 | 1.10 | 1.16 | 1.26 | 1.33 | 1.30 | 1.37 | 1.29 | 1.26 | 1.23 | 1.27 | 1.23 | 1.22 | ||||||
| Adobe Inc. | — | 0.77 | 0.75 | 0.91 | 1.00 | 1.02 | 0.99 | 1.18 | 1.07 | 1.11 | 1.16 | 1.05 | 1.34 | 1.25 | 1.16 | 1.12 | 1.11 | 1.14 | 1.07 | 1.04 | ||||||
| AppLovin Corp. | — | — | 4.30 | 3.24 | 3.32 | 3.25 | 2.74 | 1.68 | 2.19 | 2.41 | 2.28 | 2.11 | 1.71 | 1.61 | 2.87 | 3.31 | 3.35 | 3.36 | 2.82 | 2.93 | ||||||
| Cadence Design Systems Inc. | — | — | 1.74 | 1.47 | 2.86 | 3.05 | 2.82 | 3.07 | 2.93 | 2.45 | 1.43 | 1.32 | 1.24 | 1.44 | 1.37 | 1.44 | 1.27 | 1.33 | 1.59 | 1.81 | ||||||
| Datadog Inc. | — | — | 3.20 | 3.40 | 3.38 | 3.66 | 3.43 | 2.74 | 2.64 | 2.13 | 2.01 | 3.43 | 3.17 | 3.35 | 3.42 | 3.19 | 3.09 | 3.23 | 3.31 | 3.33 | ||||||
| International Business Machines Corp. | — | — | 0.79 | 0.80 | 0.96 | 0.93 | 0.91 | 1.01 | 1.04 | 1.06 | 1.12 | 1.13 | 0.96 | 0.91 | 1.06 | 1.16 | 0.92 | 0.95 | 0.88 | 0.92 | ||||||
| Intuit Inc. | 1.51 | 1.45 | 1.32 | 1.39 | 1.36 | 1.45 | 1.27 | 1.24 | 1.29 | 1.50 | 1.17 | 1.25 | 1.47 | 1.51 | 1.23 | 1.37 | 1.39 | 1.63 | 1.18 | 2.10 | ||||||
| Microsoft Corp. | 1.23 | 1.28 | 1.39 | 1.40 | 1.35 | 1.37 | 1.35 | 1.30 | 1.27 | 1.24 | 1.22 | 1.66 | 1.77 | 1.91 | 1.93 | 1.84 | 1.78 | 1.99 | 2.25 | 2.16 | ||||||
| Oracle Corp. | 1.12 | 1.35 | 0.91 | 0.62 | 0.75 | 1.02 | 0.81 | 0.72 | 0.72 | 0.85 | 0.79 | 0.87 | 0.91 | 0.82 | 0.65 | 0.60 | 1.62 | 1.52 | 1.65 | 2.04 | ||||||
| Palantir Technologies Inc. | — | — | 7.23 | 6.91 | 7.11 | 6.43 | 6.32 | 6.49 | 5.96 | 5.67 | 5.92 | 5.91 | 5.55 | 5.53 | 5.22 | 5.41 | 5.17 | 4.28 | 4.36 | 4.38 | ||||||
| Salesforce Inc. | 0.76 | 0.98 | 1.12 | 1.07 | 1.06 | 1.11 | 1.04 | 1.11 | 1.09 | 1.04 | 1.02 | 1.02 | 1.02 | 1.05 | 1.06 | 1.03 | 1.05 | 1.06 | 0.93 | 1.33 | ||||||
| ServiceNow Inc. | — | — | 0.70 | 0.84 | 1.00 | 1.06 | 1.09 | 1.12 | 1.10 | 1.13 | 1.12 | 1.05 | 1.06 | 1.08 | 1.14 | 1.17 | 1.11 | 1.24 | 1.12 | 1.12 | ||||||
| Synopsys Inc. | — | 1.34 | 1.43 | 1.36 | 1.62 | 1.62 | 7.02 | 2.68 | 2.44 | 2.02 | 1.86 | 1.29 | 1.15 | 1.20 | 1.15 | 1.11 | 1.09 | 1.14 | 1.25 | 1.19 | ||||||
| Workday Inc. | 1.32 | 1.83 | 2.10 | 2.07 | 1.90 | 2.05 | 2.04 | 2.00 | 1.97 | 2.13 | 2.00 | 1.95 | 1.75 | 1.87 | 1.61 | 1.56 | 1.03 | 1.10 | 1.04 | 0.93 | ||||||
Based on: 10-K (reporting date: 2026-07-31), 10-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31).
1 Q4 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 8,643 ÷ 9,923 = 0.87
2 Click competitor name to see calculations.
The liquidity position demonstrates a progressive strengthening over the analyzed period, characterized by a steady increase in the current ratio from a low of 0.64 in January 2023 to a peak of 1.04 in January 2026. While the ratio remained below 1.00 for the majority of the timeframe, indicating that current liabilities exceeded current assets, the overall trajectory reflects an improvement in short-term solvency.
- Current Ratio Trend Analysis
- The current ratio exhibited initial volatility between October 2021 and April 2023, fluctuating within a range of 0.64 to 0.74. Following this period, a consistent upward trend emerged, with the ratio climbing to 0.86 by October 2023 and maintaining a baseline above 0.83 through 2024. The ratio reached its maximum value of 1.04 in January 2026, marking the only instance where current assets fully covered current liabilities, before moderating to 0.87 by July 2026.
- Current Asset Growth
- Current assets showed significant growth, increasing from 4,839 million US$ in October 2021 to 8,643 million US$ by July 2026. This expansion was not linear, as evidenced by periodic fluctuations, but the long-term trend indicates a substantial accumulation of short-term resources.
- Current Liability Dynamics
- Current liabilities generally trended upward, rising from 7,144 million US$ in October 2021 to a peak of 9,923 million US$ in July 2026. A notable period of liability reduction occurred between July 2023 and April 2024, where liabilities dropped from 7,738 million US$ to 7,085 million US$, contributing to the improvement of the current ratio during that interval.
- Liquidity Solvency Insight
- The transition of the current ratio toward and eventually above the 1.00 threshold suggests a strategic shift or organic growth that improved the company's ability to meet short-term obligations. However, the subsequent decline to 0.87 in the final two quarters suggests a recent increase in short-term obligations that outpaced the growth of current assets.
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Quick Ratio
Palo Alto Networks Inc., quick ratio calculation (quarterly data)
| Jul 31, 2026 | Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 2,514) | 2,364) | 4,158) | 3,066) | 2,269) | 2,383) | 2,226) | 2,283) | 1,535) | 1,374) | 1,783) | 2,491) | 1,135) | 1,993) | 1,346) | 2,067) | 2,119) | 2,420) | 1,923) | 2,273) | ||||||
| Short-term investments | 557) | 747) | 378) | 1,144) | 635) | 917) | 1,007) | 1,108) | 1,044) | 1,517) | 1,589) | 1,402) | 1,255) | 1,965) | 2,001) | 1,737) | 1,516) | 1,455) | 1,418) | 1,189) | ||||||
| Accounts receivable, net of allowance for credit losses | 3,629) | 2,852) | 2,116) | 1,343) | 2,965) | 1,950) | 1,496) | 1,133) | 2,619) | 1,715) | 1,896) | 1,413) | 2,463) | 1,444) | 1,278) | 1,238) | 2,143) | 1,241) | 952) | 812) | ||||||
| Short-term financing receivables, net | 592) | 591) | 672) | 737) | 715) | 737) | 755) | 805) | 726) | 572) | 446) | 446) | 389) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Short-term deferred contract costs | 544) | 454) | 424) | 415) | 420) | 387) | 376) | 368) | 369) | 337) | 328) | 329) | 339) | 317) | 313) | 311) | 318) | 287) | 278) | 273) | ||||||
| Total quick assets | 7,836) | 7,008) | 7,748) | 6,705) | 7,002) | 6,375) | 5,859) | 5,697) | 6,292) | 5,515) | 6,041) | 6,081) | 5,581) | 5,719) | 4,938) | 5,352) | 6,095) | 5,402) | 4,571) | 4,546) | ||||||
| Current liabilities | 9,923) | 9,006) | 8,009) | 7,418) | 7,988) | 7,706) | 7,552) | 7,403) | 7,683) | 7,085) | 7,766) | 7,513) | 7,738) | 8,641) | 8,475) | 8,195) | 8,306) | 7,677) | 7,406) | 7,144) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Quick ratio1 | 0.79 | 0.78 | 0.97 | 0.90 | 0.88 | 0.83 | 0.78 | 0.77 | 0.82 | 0.78 | 0.78 | 0.81 | 0.72 | 0.66 | 0.58 | 0.65 | 0.73 | 0.70 | 0.62 | 0.64 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||
| Accenture PLC | — | 1.21 | 1.20 | 1.29 | 1.30 | 1.32 | 1.33 | 1.33 | 0.98 | 1.03 | 1.13 | 1.18 | 1.18 | 1.24 | 1.15 | 1.12 | 1.12 | 1.14 | 1.10 | 1.10 | ||||||
| Adobe Inc. | — | 0.65 | 0.63 | 0.79 | 0.88 | 0.87 | 0.82 | 1.03 | 0.95 | 0.97 | 1.02 | 0.93 | 1.22 | 1.12 | 1.03 | 1.00 | 1.00 | 1.01 | 0.93 | 0.89 | ||||||
| AppLovin Corp. | — | — | 4.17 | 3.16 | 3.23 | 3.05 | 2.54 | 1.51 | 2.04 | 2.25 | 2.10 | 1.93 | 1.54 | 1.47 | 2.61 | 3.04 | 3.08 | 2.96 | 2.55 | 2.67 | ||||||
| Cadence Design Systems Inc. | — | — | 1.36 | 1.13 | 2.41 | 2.49 | 2.33 | 2.58 | 2.43 | 2.00 | 1.06 | 0.96 | 0.94 | 1.10 | 1.10 | 1.19 | 1.02 | 1.13 | 1.36 | 1.56 | ||||||
| Datadog Inc. | — | — | 3.10 | 3.28 | 3.28 | 3.55 | 3.34 | 2.66 | 2.57 | 2.07 | 1.95 | 3.32 | 3.08 | 3.26 | 3.31 | 3.09 | 3.01 | 3.14 | 3.21 | 3.23 | ||||||
| International Business Machines Corp. | — | — | 0.62 | 0.65 | 0.83 | 0.78 | 0.77 | 0.86 | 0.90 | 0.89 | 0.95 | 0.98 | 0.82 | 0.74 | 0.90 | 0.99 | 0.76 | 0.75 | 0.68 | 0.73 | ||||||
| Intuit Inc. | 0.93 | 0.76 | 0.67 | 0.78 | 0.63 | 0.85 | 0.68 | 0.54 | 0.71 | 1.00 | 0.55 | 0.66 | 1.25 | 1.29 | 1.02 | 1.10 | 1.17 | 1.29 | 0.78 | 1.71 | ||||||
| Microsoft Corp. | 0.93 | 1.01 | 1.12 | 1.15 | 1.16 | 1.15 | 1.10 | 1.06 | 1.06 | 1.05 | 1.02 | 1.45 | 1.54 | 1.66 | 1.66 | 1.59 | 1.57 | 1.77 | 2.05 | 1.96 | ||||||
| Oracle Corp. | 1.01 | 1.22 | 0.77 | 0.50 | 0.61 | 0.87 | 0.67 | 0.59 | 0.59 | 0.69 | 0.63 | 0.73 | 0.74 | 0.65 | 0.50 | 0.49 | 1.43 | 1.34 | 1.45 | 1.90 | ||||||
| Palantir Technologies Inc. | — | — | 7.09 | 6.82 | 6.99 | 6.31 | 6.19 | 6.36 | 5.83 | 5.55 | 5.77 | 5.80 | 5.41 | 5.39 | 5.08 | 5.25 | 4.92 | 4.08 | 4.09 | 4.15 | ||||||
| Salesforce Inc. | 0.64 | 0.78 | 0.93 | 0.90 | 0.93 | 0.90 | 0.86 | 0.95 | 0.96 | 0.86 | 0.86 | 0.86 | 0.90 | 0.89 | 0.91 | 0.88 | 0.93 | 0.89 | 0.79 | 1.19 | ||||||
| ServiceNow Inc. | — | — | 0.61 | 0.75 | 0.91 | 0.96 | 0.99 | 1.03 | 1.02 | 1.05 | 1.03 | 0.98 | 1.00 | 1.01 | 1.08 | 1.11 | 1.06 | 1.17 | 1.06 | 1.06 | ||||||
| Synopsys Inc. | — | 0.99 | 0.99 | 0.98 | 1.20 | 1.16 | 6.34 | 1.99 | 1.88 | 1.10 | 0.99 | 0.88 | 0.85 | 0.92 | 0.90 | 0.86 | 0.85 | 0.87 | 0.99 | 0.93 | ||||||
| Workday Inc. | 1.22 | 1.71 | 1.98 | 1.94 | 1.80 | 1.94 | 1.92 | 1.88 | 1.87 | 2.01 | 1.90 | 1.83 | 1.66 | 1.75 | 1.52 | 1.47 | 0.96 | 1.03 | 0.98 | 0.86 | ||||||
Based on: 10-K (reporting date: 2026-07-31), 10-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31).
1 Q4 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 7,836 ÷ 9,923 = 0.79
2 Click competitor name to see calculations.
The liquidity profile demonstrates a gradual improvement in the capacity to cover short-term obligations with the most liquid assets. While the quick ratio consistently remains below the 1.0 threshold, there is a visible positive trajectory over the analyzed period, indicating a strengthening of the immediate liquidity position despite a persistent reliance on other current assets or operational cash flow to meet total current liabilities.
- Quick Asset Evolution
- Total quick assets exhibit a general upward trend, increasing from 4,546 million USD in October 2021 to 7,836 million USD by July 2026. Growth was characterized by periods of volatility, with notable peaks in July 2022 and a sustained increase starting in January 2025, reflecting a systematic accumulation of liquid resources over the five-year span.
- Current Liability Trends
- Current liabilities remained relatively stable between 7,000 million USD and 8,600 million USD for much of the period. A significant shift occurred in the final quarters, where liabilities rose to a peak of 9,923 million USD in July 2026. This late-stage increase in short-term obligations has acted as a counterbalance to the growth in quick assets.
- Quick Ratio Analysis
- The quick ratio reached its lowest point of 0.58 in January 2023, signaling a period of tighter liquidity. Following this trough, a consistent recovery trend is observed, with the ratio climbing to a peak of 0.97 in January 2026. The subsequent decline to 0.79 by July 2026 coincides with the sharp increase in current liabilities. The overall movement suggests a strategic shift toward a more robust liquidity cushion, although the ratio has not yet reached a parity of 1.0.
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Cash Ratio
Palo Alto Networks Inc., cash ratio calculation (quarterly data)
| Jul 31, 2026 | Apr 30, 2026 | Jan 31, 2026 | Oct 31, 2025 | Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 2,514) | 2,364) | 4,158) | 3,066) | 2,269) | 2,383) | 2,226) | 2,283) | 1,535) | 1,374) | 1,783) | 2,491) | 1,135) | 1,993) | 1,346) | 2,067) | 2,119) | 2,420) | 1,923) | 2,273) | ||||||
| Short-term investments | 557) | 747) | 378) | 1,144) | 635) | 917) | 1,007) | 1,108) | 1,044) | 1,517) | 1,589) | 1,402) | 1,255) | 1,965) | 2,001) | 1,737) | 1,516) | 1,455) | 1,418) | 1,189) | ||||||
| Total cash assets | 3,071) | 3,111) | 4,536) | 4,210) | 2,903) | 3,300) | 3,233) | 3,391) | 2,579) | 2,890) | 3,371) | 3,894) | 2,390) | 3,958) | 3,347) | 3,804) | 3,635) | 3,875) | 3,340) | 3,461) | ||||||
| Current liabilities | 9,923) | 9,006) | 8,009) | 7,418) | 7,988) | 7,706) | 7,552) | 7,403) | 7,683) | 7,085) | 7,766) | 7,513) | 7,738) | 8,641) | 8,475) | 8,195) | 8,306) | 7,677) | 7,406) | 7,144) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Cash ratio1 | 0.31 | 0.35 | 0.57 | 0.57 | 0.36 | 0.43 | 0.43 | 0.46 | 0.34 | 0.41 | 0.43 | 0.52 | 0.31 | 0.46 | 0.39 | 0.46 | 0.44 | 0.50 | 0.45 | 0.48 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||
| Accenture PLC | — | 0.47 | 0.45 | 0.49 | 0.56 | 0.51 | 0.50 | 0.48 | 0.26 | 0.30 | 0.32 | 0.41 | 0.50 | 0.50 | 0.38 | 0.36 | 0.45 | 0.41 | 0.35 | 0.37 | ||||||
| Adobe Inc. | — | 0.47 | 0.47 | 0.60 | 0.65 | 0.64 | 0.63 | 0.81 | 0.75 | 0.78 | 0.85 | 0.72 | 0.95 | 0.90 | 0.82 | 0.76 | 0.75 | 0.77 | 0.72 | 0.65 | ||||||
| AppLovin Corp. | — | — | 2.43 | 1.85 | 1.86 | 1.55 | 1.09 | 0.39 | 0.70 | 0.73 | 0.63 | 0.57 | 0.53 | 0.41 | 1.48 | 2.01 | 1.87 | 1.74 | 1.48 | 1.80 | ||||||
| Cadence Design Systems Inc. | — | — | 0.78 | 0.65 | 1.84 | 1.96 | 1.89 | 2.14 | 1.93 | 1.66 | 0.69 | 0.69 | 0.63 | 0.76 | 0.73 | 0.78 | 0.65 | 0.82 | 0.99 | 1.18 | ||||||
| Datadog Inc. | — | — | 2.66 | 2.87 | 2.81 | 3.13 | 2.89 | 2.40 | 2.25 | 1.80 | 1.65 | 2.86 | 2.58 | 2.78 | 2.87 | 2.61 | 2.48 | 2.62 | 2.72 | 2.78 | ||||||
| International Business Machines Corp. | — | — | 0.23 | 0.29 | 0.37 | 0.42 | 0.41 | 0.50 | 0.45 | 0.48 | 0.54 | 0.60 | 0.39 | 0.36 | 0.50 | 0.57 | 0.28 | 0.32 | 0.24 | 0.32 | ||||||
| Intuit Inc. | 0.71 | 0.55 | 0.34 | 0.49 | 0.44 | 0.64 | 0.34 | 0.39 | 0.54 | 0.76 | 0.24 | 0.45 | 0.97 | 0.97 | 0.54 | 0.82 | 0.90 | 1.09 | 0.48 | 1.52 | ||||||
| Microsoft Corp. | 0.46 | 0.57 | 0.69 | 0.76 | 0.67 | 0.70 | 0.66 | 0.68 | 0.60 | 0.68 | 0.67 | 1.15 | 1.07 | 1.22 | 1.22 | 1.23 | 1.10 | 1.35 | 1.62 | 1.62 | ||||||
| Oracle Corp. | 0.76 | 0.96 | 0.52 | 0.28 | 0.34 | 0.60 | 0.39 | 0.34 | 0.34 | 0.40 | 0.36 | 0.48 | 0.44 | 0.38 | 0.27 | 0.32 | 1.12 | 1.12 | 1.21 | 1.70 | ||||||
| Palantir Technologies Inc. | — | — | 6.13 | 5.80 | 6.11 | 5.45 | 5.51 | 5.61 | 5.25 | 4.84 | 4.96 | 5.15 | 4.93 | 4.77 | 4.53 | 4.83 | 4.48 | 3.59 | 3.69 | 3.77 | ||||||
| Salesforce Inc. | 0.26 | 0.53 | 0.68 | 0.72 | 0.50 | 0.66 | 0.60 | 0.76 | 0.53 | 0.61 | 0.60 | 0.65 | 0.48 | 0.65 | 0.67 | 0.68 | 0.48 | 0.62 | 0.55 | 0.98 | ||||||
| ServiceNow Inc. | — | — | 0.38 | 0.52 | 0.60 | 0.69 | 0.72 | 0.80 | 0.69 | 0.78 | 0.75 | 0.73 | 0.66 | 0.73 | 0.82 | 0.85 | 0.71 | 0.89 | 0.81 | 0.83 | ||||||
| Synopsys Inc. | — | 0.73 | 0.66 | 0.56 | 0.80 | 0.75 | 5.93 | 1.62 | 1.53 | 0.79 | 0.66 | 0.48 | 0.53 | 0.67 | 0.62 | 0.48 | 0.56 | 0.60 | 0.70 | 0.51 | ||||||
| Workday Inc. | 0.85 | 1.36 | 1.66 | 1.65 | 1.45 | 1.62 | 1.63 | 1.62 | 1.55 | 1.71 | 1.59 | 1.56 | 1.32 | 1.48 | 1.30 | 1.31 | 0.72 | 0.83 | 0.77 | 0.71 | ||||||
Based on: 10-K (reporting date: 2026-07-31), 10-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-Q (reporting date: 2025-10-31), 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31).
1 Q4 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 3,071 ÷ 9,923 = 0.31
2 Click competitor name to see calculations.
The analysis of liquidity metrics indicates a period of significant volatility in the cash ratio, which fluctuated between a minimum of 0.31 and a maximum of 0.57. Throughout the observed timeframe, the cash ratio remained consistently below 1.0, suggesting that total cash assets were insufficient to cover all current liabilities independently.
- Cash Asset Trends
- Total cash assets exhibited a cyclical pattern, with notable lows occurring in July 2023 at 2,390 million USD and July 2024 at 2,579 million USD. A period of growth followed, peaking at 4,536 million USD in January 2026, before experiencing a sharp contraction to 3,071 million USD by July 2026.
- Current Liability Trajectory
- Current liabilities demonstrated a general upward trend over the long term. While values remained relatively stable between 7,000 million USD and 8,600 million USD for the first several years, a marked increase is observed toward the end of the period, culminating in a peak of 9,923 million USD in July 2026.
- Cash Ratio Performance and Volatility
- The cash ratio reached its highest levels of 0.57 in October 2025 and January 2026, coinciding with the peak in cash assets and a relative stabilization of liabilities. Conversely, the ratio dropped to its lowest point of 0.31 in July 2023 and July 2026. The decline in the final period is attributed to the simultaneous decrease in cash assets and the surge in current liabilities.
- Liquidity Correlation
- A correlation is observed between the expansion of short-term obligations and the compression of the cash ratio. The most significant deterioration in liquidity occurred between January 2026 and July 2026, where the cash ratio fell from 0.57 to 0.31, reflecting a rapid increase in liabilities paired with a substantial reduction in liquid reserves.
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