Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Qualcomm Inc., liquidity ratios (quarterly data)
Based on: 10-K (reporting date: 2026-09-27), 10-Q (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-Q (reporting date: 2025-12-28), 10-K (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-23), 10-Q (reporting date: 2024-03-24), 10-Q (reporting date: 2023-12-24), 10-K (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-Q (reporting date: 2022-12-25), 10-K (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-Q (reporting date: 2021-12-26).
The liquidity profile exhibits a pronounced cyclical trend characterized by a sustained accumulation of liquid assets from 2022 through mid-2025, followed by a subsequent contraction in the latter period. This pattern suggests a period of aggressive capital preservation and liquidity buildup that was later offset by increased cash outflows or a reduction in short-term assets.
- Current Ratio Analysis
- A steady upward trajectory is observed from December 2021, where the ratio stood at 1.65, reaching a peak of 3.19 in June 2025. This indicates a significant expansion of current assets relative to current liabilities over a three-and-a-half-year period. However, a corrective downward trend emerged after the June 2025 peak, with the ratio receding to 1.86 by September 2026.
- Quick Ratio Analysis
- The quick ratio initially experienced a decline, reaching a low of 0.90 in June 2022, which suggests a temporary period of tighter liquidity excluding inventory. Subsequently, the ratio recovered and grew consistently to a peak of 2.02 in June 2025. Similar to the current ratio, a contraction followed, with the value ending at 0.99 in September 2026, returning the company to a position where highly liquid assets nearly equal current liabilities.
- Cash Ratio Analysis
- The cash ratio closely mirrors the movement of the quick ratio, hitting a trough of 0.54 in September 2022 before climbing to a peak of 1.58 in June 2025. The strong correlation between the cash ratio and the overall liquidity ratios indicates that the surge in liquidity was primarily driven by increases in cash and cash equivalents rather than other current assets. The ratio subsequently declined to 0.64 by September 2026.
The synchronized movement of all three ratios highlights a period of peak liquidity in the second quarter of 2025. The subsequent decline across all metrics through September 2026 suggests a strategic deployment of cash reserves or an increase in short-term obligations, bringing liquidity levels back toward the baseline observed in 2021.
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Current Ratio
Qualcomm Inc., 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 23, 2024 | Mar 24, 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 22,272) | 23,004) | 23,112) | 24,608) | 25,754) | 24,913) | 26,080) | 26,065) | 25,231) | 23,332) | 24,232) | 23,439) | 22,464) | 20,476) | 19,073) | 21,098) | 20,724) | 18,999) | 21,610) | 20,222) | ||||||
| Current liabilities | 11,978) | 11,413) | 9,767) | 9,822) | 9,144) | 7,800) | 9,544) | 9,954) | 10,504) | 9,747) | 9,143) | 9,169) | 9,628) | 8,463) | 7,866) | 10,081) | 11,866) | 11,829) | 13,432) | 12,273) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Current ratio1 | 1.86 | 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 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | 2.72 | 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 | ||||||
| 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. | 3.91 | 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 | ||||||
| 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: 2026-09-27), 10-Q (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-Q (reporting date: 2025-12-28), 10-K (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-23), 10-Q (reporting date: 2024-03-24), 10-Q (reporting date: 2023-12-24), 10-K (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-Q (reporting date: 2022-12-25), 10-K (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-Q (reporting date: 2021-12-26).
1 Q4 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 22,272 ÷ 11,978 = 1.86
2 Click competitor name to see calculations.
The liquidity profile of the organization experienced a period of significant strengthening between December 2021 and June 2025, followed by a gradual contraction through September 2026.
- Current Asset Trends
- Current assets demonstrated a general growth trajectory for the first half of the observed period. Starting at 20,222 million USD in December 2021, assets peaked at 26,080 million USD in December 2024. Following this peak, a gradual decline was observed, with assets receding to 22,272 million USD by September 2026.
- Current Liability Fluctuations
- Current liabilities exhibited a notable decrease in the first half of the timeline. After maintaining levels above 11,800 million USD through late 2022, liabilities dropped sharply to 7,866 million USD by March 2023. This lower baseline persisted with some volatility until early 2026, at which point liabilities began to trend upward again, reaching 11,978 million USD by September 2026.
- Current Ratio Analysis
- The current ratio mirrored the divergent paths of assets and liabilities, showing a marked improvement in short-term solvency. The ratio rose from 1.65 in December 2021 to a peak of 3.19 in June 2025. This expansion indicates a substantial increase in the company's ability to cover short-term obligations. However, a downward trend emerged in the subsequent quarters, with the ratio compressing to 1.86 by September 2026, driven by the simultaneous decrease in current assets and the increase in current liabilities.
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Quick Ratio
Qualcomm Inc., 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 23, 2024 | Mar 24, 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 4,636) | 4,533) | 5,435) | 7,205) | 5,520) | 5,448) | 7,203) | 8,713) | 7,849) | 7,770) | 9,219) | 8,133) | 8,450) | 6,087) | 3,488) | 4,808) | 2,773) | 2,676) | 7,173) | 6,607) | ||||||
| Restricted cash | —) | —) | —) | —) | 2,323) | 2,323) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Marketable securities | 3,045) | 3,771) | 4,364) | 4,617) | 4,635) | 4,563) | 6,643) | 5,592) | 5,451) | 5,262) | 4,632) | 3,921) | 2,874) | 2,544) | 3,188) | 3,430) | 3,609) | 4,172) | 4,373) | 4,703) | ||||||
| Accounts receivable, net | 4,199) | 4,668) | 4,347) | 4,153) | 4,315) | 3,410) | 3,699) | 3,550) | 3,929) | 2,948) | 3,054) | 3,513) | 3,183) | 3,850) | 3,691) | 3,960) | 5,643) | 3,804) | 4,084) | 4,032) | ||||||
| Total quick assets | 11,880) | 12,972) | 14,146) | 15,975) | 16,793) | 15,744) | 17,545) | 17,855) | 17,229) | 15,980) | 16,905) | 15,567) | 14,507) | 12,481) | 10,367) | 12,198) | 12,025) | 10,652) | 15,630) | 15,342) | ||||||
| Current liabilities | 11,978) | 11,413) | 9,767) | 9,822) | 9,144) | 7,800) | 9,544) | 9,954) | 10,504) | 9,747) | 9,143) | 9,169) | 9,628) | 8,463) | 7,866) | 10,081) | 11,866) | 11,829) | 13,432) | 12,273) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Quick ratio1 | 0.99 | 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 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | 1.72 | 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 | ||||||
| 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. | 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 | ||||||
| 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: 2026-09-27), 10-Q (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-Q (reporting date: 2025-12-28), 10-K (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-23), 10-Q (reporting date: 2024-03-24), 10-Q (reporting date: 2023-12-24), 10-K (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-Q (reporting date: 2022-12-25), 10-K (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-Q (reporting date: 2021-12-26).
1 Q4 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 11,880 ÷ 11,978 = 0.99
2 Click competitor name to see calculations.
The liquidity position exhibited significant fluctuations over the analyzed period, characterized by an initial contraction, a prolonged phase of strengthening, and a subsequent decline toward the end of the series.
- Initial Liquidity Volatility (2021–2022)
- A downward trend in the quick ratio is observed from December 2021 to June 2022, where the ratio fell from 1.25 to a period low of 0.90. This decline was primarily driven by a reduction in total quick assets, which dropped from 15,342 million US$ to 10,652 million US$ during this window.
- Sustained Liquidity Expansion (2022–2025)
- A consistent recovery and expansion of liquidity occurred between September 2022 and June 2025. The quick ratio rose steadily, peaking at 2.02. This improvement was supported by two concurrent factors: a significant increase in total quick assets, which reached a maximum of 17,855 million US$ in December 2024, and a substantial reduction in current liabilities, which hit a low of 7,800 million US$ in June 2025.
- Recent Liquidity Contraction (2025–2026)
- From June 2025 through September 2026, a reversal in the liquidity trend is evident. The quick ratio declined from 2.02 to 0.99. This deterioration is attributed to a steady decrease in total quick assets, which fell to 11,880 million US$, combined with a rising trend in current liabilities, which increased to 11,978 million US$ by the end of the period.
Overall, the organization transitioned from a position of adequate liquidity to a high-liquidity peak, before returning to a state where quick assets barely cover current liabilities by the end of the analyzed timeframe.
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Cash Ratio
Qualcomm Inc., 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 23, 2024 | Mar 24, 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 4,636) | 4,533) | 5,435) | 7,205) | 5,520) | 5,448) | 7,203) | 8,713) | 7,849) | 7,770) | 9,219) | 8,133) | 8,450) | 6,087) | 3,488) | 4,808) | 2,773) | 2,676) | 7,173) | 6,607) | ||||||
| Restricted cash | —) | —) | —) | —) | 2,323) | 2,323) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Marketable securities | 3,045) | 3,771) | 4,364) | 4,617) | 4,635) | 4,563) | 6,643) | 5,592) | 5,451) | 5,262) | 4,632) | 3,921) | 2,874) | 2,544) | 3,188) | 3,430) | 3,609) | 4,172) | 4,373) | 4,703) | ||||||
| Total cash assets | 7,681) | 8,304) | 9,799) | 11,822) | 12,478) | 12,334) | 13,846) | 14,305) | 13,300) | 13,032) | 13,851) | 12,054) | 11,324) | 8,631) | 6,676) | 8,238) | 6,382) | 6,848) | 11,546) | 11,310) | ||||||
| Current liabilities | 11,978) | 11,413) | 9,767) | 9,822) | 9,144) | 7,800) | 9,544) | 9,954) | 10,504) | 9,747) | 9,143) | 9,169) | 9,628) | 8,463) | 7,866) | 10,081) | 11,866) | 11,829) | 13,432) | 12,273) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Cash ratio1 | 0.64 | 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 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | 1.09 | 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 | ||||||
| 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. | 1.94 | 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 | ||||||
| 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: 2026-09-27), 10-Q (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-Q (reporting date: 2025-12-28), 10-K (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-23), 10-Q (reporting date: 2024-03-24), 10-Q (reporting date: 2023-12-24), 10-K (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-Q (reporting date: 2022-12-25), 10-K (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-Q (reporting date: 2021-12-26).
1 Q4 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 7,681 ÷ 11,978 = 0.64
2 Click competitor name to see calculations.
The liquidity position exhibited significant volatility between December 2021 and September 2026, characterized by an initial contraction, a period of substantial strengthening, and a subsequent decline in the most recent quarters. The cash ratio fluctuated from a low of 0.54 in September 2022 to a peak of 1.58 in June 2025, reflecting shifting balances between immediate cash reserves and short-term obligations.
- Initial Liquidity Contraction (December 2021 – September 2022)
- A downward trend in liquidity is observed during this period, with the cash ratio declining from 0.92 to 0.54. This deterioration was primarily driven by a reduction in total cash assets, which fell from 11,310 million USD to 6,382 million USD, while current liabilities remained relatively high, peaking at 13,432 million USD in March 2022.
- Liquidity Expansion and Peak (December 2022 – June 2025)
- A strong recovery phase began in late 2022, with the cash ratio crossing the 1.0 threshold in June 2023. This period of strengthened liquidity was supported by a steady increase in cash assets, reaching a high of 14,305 million USD in December 2024. Concurrently, current liabilities were generally managed at lower levels, dipping to 7,800 million USD in June 2025, which contributed to the peak cash ratio of 1.58.
- Recent Liquidity Deterioration (September 2025 – September 2026)
- A sharp decline in the cash ratio is evident in the final year of the period, dropping from 1.36 in September 2025 to 0.64 by September 2026. This trend resulted from a dual pressure: total cash assets decreased significantly to 7,681 million USD, while current liabilities increased to 11,978 million USD. By the end of the analyzed period, the cash ratio returned to levels similar to those seen during the 2022 downturn.
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