Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Regeneron Pharmaceuticals Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
An analysis of the liquidity position from March 2022 through June 2026 reveals a period of expansion followed by a consistent contraction. Liquidity peaked in the fourth quarter of 2023 across all measured metrics, after which a steady downward trend is observed. Despite this decline, all ratios remain significantly above the 1.0 threshold, suggesting the organization maintains a robust capacity to meet its short-term obligations.
- Current Ratio
- The current ratio exhibited an upward trajectory from 4.76 in March 2022, reaching a peak of 5.69 by December 31, 2023. Following this peak, a progressive decline occurred throughout 2024 and 2025, accelerating in the first half of 2026 to end at 3.34. This represents a reduction in the coverage of current liabilities by current assets, though the final value still indicates a strong liquidity cushion.
- Quick Ratio
- Mirroring the current ratio, the quick ratio rose from 3.95 in March 2022 to a maximum of 4.82 in December 2023. A subsequent downward trend brought the ratio to 2.63 by June 30, 2026. The relatively small variance between the current and quick ratios suggests that inventory does not constitute a disproportionate share of current assets, indicating high asset liquidity.
- Cash Ratio
- The cash ratio followed a similar cyclical pattern, increasing from 2.34 in March 2022 to a peak of 3.17 in December 2023. A notable contraction followed, with the ratio falling to 1.45 by June 30, 2026. The steady decrease in this metric highlights a reduction in the most liquid assets relative to current liabilities over the final two years of the period.
The synchronized decline across the current, quick, and cash ratios beginning in 2024 indicates a systematic shift in the balance sheet structure. The convergence of these ratios toward lower levels suggests either an increase in short-term liabilities or a strategic deployment of cash and liquid assets. However, the maintenance of a cash ratio above 1.0 throughout the entire period underscores a conservative financial position with minimal liquidity risk.
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Current Ratio
Regeneron Pharmaceuticals Inc., current ratio calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||
| Current assets | 18,446,000) | 18,209,200) | 18,021,900) | 17,980,700) | 16,859,500) | 17,571,700) | 18,660,900) | 19,333,600) | 19,081,600) | 18,871,500) | 19,479,200) | 18,634,800) | 16,923,000) | 16,909,200) | 15,884,100) | 15,428,600) | 15,529,900) | 14,306,000) | ||||||
| Current liabilities | 5,530,600) | 5,107,700) | 4,368,400) | 4,425,100) | 3,667,000) | 3,566,600) | 3,944,300) | 3,661,000) | 3,508,600) | 3,580,900) | 3,423,400) | 3,598,600) | 3,104,400) | 3,100,100) | 3,141,300) | 2,879,200) | 3,033,900) | 3,007,600) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Current ratio1 | 3.34 | 3.57 | 4.13 | 4.06 | 4.60 | 4.93 | 4.73 | 5.28 | 5.44 | 5.27 | 5.69 | 5.18 | 5.45 | 5.45 | 5.06 | 5.36 | 5.12 | 4.76 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||
| AbbVie Inc. | 0.81 | 0.80 | 0.67 | 0.72 | 0.74 | 0.76 | 0.66 | 0.65 | 0.81 | 0.94 | 0.87 | 0.96 | 0.89 | 0.96 | 0.96 | 0.93 | 0.84 | 0.82 | ||||||
| Amgen Inc. | — | 1.26 | 1.14 | 1.28 | 1.31 | 1.17 | 1.26 | 1.32 | 1.26 | 1.42 | 1.65 | 2.86 | 2.77 | 3.14 | 1.41 | 1.68 | 1.53 | 1.44 | ||||||
| Bristol-Myers Squibb Co. | 1.53 | 1.42 | 1.26 | 1.27 | 1.21 | 1.28 | 1.25 | 1.24 | 1.16 | 1.11 | 1.43 | 1.18 | 1.39 | 1.42 | 1.25 | 1.42 | 1.44 | 1.32 | ||||||
| Danaher Corp. | 1.65 | 1.87 | 1.87 | 1.52 | 1.62 | 1.43 | 1.40 | 1.37 | 1.43 | 1.85 | 1.68 | 2.26 | 2.08 | 1.89 | 1.89 | 1.78 | 1.75 | 1.68 | ||||||
| Eli Lilly & Co. | — | 1.50 | 1.58 | 1.55 | 1.28 | 1.37 | 1.15 | 1.27 | 1.11 | 1.35 | 0.94 | 1.05 | 1.13 | 1.30 | 1.05 | 1.13 | 1.10 | 1.27 | ||||||
| Gilead Sciences Inc. | — | 1.97 | 1.55 | 1.45 | 1.32 | 1.37 | 1.60 | 1.26 | 1.14 | 1.08 | 1.43 | 1.34 | 1.02 | 1.28 | 1.29 | 1.30 | 1.43 | 1.48 | ||||||
| Johnson & Johnson | 1.09 | 1.03 | 1.03 | 1.07 | 1.01 | 1.26 | 1.11 | 1.03 | 1.07 | 1.17 | 1.16 | 1.21 | 1.12 | 1.07 | 0.99 | 1.43 | 1.42 | 1.39 | ||||||
| Merck & Co. Inc. | — | 1.30 | 1.54 | 1.66 | 1.42 | 1.41 | 1.36 | 1.36 | 1.47 | 1.25 | 1.25 | 1.38 | 1.28 | 1.44 | 1.47 | 1.46 | 1.39 | 1.40 | ||||||
| Pfizer Inc. | 1.27 | 1.25 | 1.16 | 1.28 | 1.16 | 1.26 | 1.17 | 1.00 | 0.86 | 1.05 | 0.91 | 2.38 | 2.12 | 1.37 | 1.22 | 1.59 | 1.42 | 1.39 | ||||||
| Thermo Fisher Scientific Inc. | 1.55 | 1.53 | 1.89 | 1.50 | 1.93 | 1.77 | 1.66 | 1.63 | 1.72 | 1.70 | 1.75 | 1.63 | 1.42 | 1.27 | 1.48 | 1.74 | 1.65 | 1.56 | ||||||
| Vertex Pharmaceuticals Inc. | 3.19 | 3.02 | 2.90 | 2.36 | 2.52 | 2.65 | 2.69 | 2.47 | 2.52 | 3.50 | 3.99 | 4.08 | 4.14 | 4.28 | 4.83 | 4.70 | 4.50 | 4.75 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q2 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 18,446,000 ÷ 5,530,600 = 3.34
2 Click competitor name to see calculations.
An analysis of the liquidity position from March 2022 through June 2026 reveals a transition from a period of expanding liquidity to a phase of gradual contraction. While a substantial margin of safety is maintained between current assets and current liabilities, the trend indicates a tightening of the short-term financial position over the final two years of the observed period.
- Current Assets Analysis
- Current assets demonstrated a consistent upward trajectory from March 2022, rising from 14.31 billion USD to a peak of 19.48 billion USD in December 2023. Following this peak, the asset base experienced a period of volatility, dipping to 16.86 billion USD in June 2025 before recovering to 18.45 billion USD by June 2026. Overall, current assets grew by approximately 28.9% over the entire timeframe.
- Current Liabilities Analysis
- Current liabilities remained relatively stable, fluctuating between 2.88 billion USD and 3.66 billion USD from March 2022 through September 2024. However, a significant acceleration in short-term obligations occurred between December 2024 and June 2026, with liabilities increasing from 3.94 billion USD to 5.53 billion USD. This represents a sharp increase in obligations during the latter part of the period.
- Current Ratio Trends
- The current ratio exhibited a growth phase in the first two years, peaking at 5.69 in December 2023. From that point forward, a consistent downward trend is observed, with the ratio declining to 3.34 by June 2026. This deterioration is primarily driven by the fact that current liabilities grew at a significantly faster rate than current assets during the 2024-2026 period. Despite this decline, the ratio remains well above 1.0, suggesting that the entity continues to maintain a very strong capacity to cover its short-term obligations.
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Quick Ratio
Regeneron Pharmaceuticals Inc., quick ratio calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||
| Cash and cash equivalents | 2,455,800) | 2,962,600) | 3,118,100) | 2,506,400) | 1,995,800) | 3,090,200) | 2,488,200) | 2,011,800) | 1,920,700) | 2,602,000) | 2,730,000) | 2,152,300) | 1,937,200) | 3,916,300) | 3,105,900) | 3,491,300) | 3,395,100) | 3,345,700) | ||||||
| Marketable securities | 5,538,800) | 5,791,100) | 5,487,100) | 5,937,200) | 5,473,800) | 5,259,200) | 6,524,300) | 7,784,700) | 7,888,300) | 7,917,500) | 8,114,800) | 7,761,300) | 6,990,500) | 5,043,400) | 4,636,400) | 3,530,400) | 4,171,300) | 3,704,900) | ||||||
| Accounts receivable, net | 6,565,400) | 5,731,000) | 5,741,100) | 5,687,100) | 5,610,000) | 5,561,000) | 6,211,900) | 6,107,100) | 5,717,100) | 5,222,200) | 5,667,300) | 5,584,500) | 5,121,300) | 5,118,600) | 5,328,700) | 5,548,300) | 5,161,400) | 4,839,000) | ||||||
| Total quick assets | 14,560,000) | 14,484,700) | 14,346,300) | 14,130,700) | 13,079,600) | 13,910,400) | 15,224,400) | 15,903,600) | 15,526,100) | 15,741,700) | 16,512,100) | 15,498,100) | 14,049,000) | 14,078,300) | 13,071,000) | 12,570,000) | 12,727,800) | 11,889,600) | ||||||
| Current liabilities | 5,530,600) | 5,107,700) | 4,368,400) | 4,425,100) | 3,667,000) | 3,566,600) | 3,944,300) | 3,661,000) | 3,508,600) | 3,580,900) | 3,423,400) | 3,598,600) | 3,104,400) | 3,100,100) | 3,141,300) | 2,879,200) | 3,033,900) | 3,007,600) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Quick ratio1 | 2.63 | 2.84 | 3.28 | 3.19 | 3.57 | 3.90 | 3.86 | 4.34 | 4.43 | 4.40 | 4.82 | 4.31 | 4.53 | 4.54 | 4.16 | 4.37 | 4.20 | 3.95 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||
| AbbVie Inc. | 0.49 | 0.52 | 0.41 | 0.47 | 0.48 | 0.48 | 0.42 | 0.43 | 0.59 | 0.72 | 0.63 | 0.71 | 0.63 | 0.66 | 0.69 | 0.69 | 0.57 | 0.52 | ||||||
| Amgen Inc. | — | 0.85 | 0.73 | 0.82 | 0.82 | 0.74 | 0.81 | 0.80 | 0.75 | 0.84 | 0.99 | 2.41 | 2.34 | 2.62 | 0.95 | 1.17 | 0.99 | 0.90 | ||||||
| Bristol-Myers Squibb Co. | 1.16 | 1.04 | 0.94 | 0.99 | 0.91 | 0.94 | 0.91 | 0.84 | 0.78 | 0.78 | 1.04 | 0.77 | 0.94 | 1.01 | 0.87 | 0.98 | 1.07 | 1.03 | ||||||
| Danaher Corp. | 1.03 | 1.28 | 1.25 | 0.84 | 0.96 | 0.83 | 0.83 | 0.84 | 0.85 | 1.34 | 1.18 | 1.76 | 1.52 | 1.34 | 1.30 | 1.19 | 1.13 | 1.08 | ||||||
| Eli Lilly & Co. | — | 0.72 | 0.78 | 0.73 | 0.53 | 0.57 | 0.58 | 0.62 | 0.60 | 0.67 | 0.52 | 0.58 | 0.63 | 0.79 | 0.62 | 0.70 | 0.66 | 0.77 | ||||||
| Gilead Sciences Inc. | — | 1.31 | 1.06 | 1.01 | 0.89 | 1.00 | 1.20 | 0.82 | 0.69 | 0.72 | 1.06 | 0.98 | 0.78 | 0.95 | 0.99 | 0.96 | 1.06 | 1.06 | ||||||
| Johnson & Johnson | 0.73 | 0.69 | 0.69 | 0.71 | 0.68 | 0.96 | 0.78 | 0.70 | 0.77 | 0.84 | 0.82 | 0.86 | 0.84 | 0.81 | 0.71 | 1.10 | 1.09 | 1.06 | ||||||
| Merck & Co. Inc. | — | 0.66 | 0.93 | 1.06 | 0.79 | 0.80 | 0.84 | 0.88 | 0.88 | 0.68 | 0.68 | 0.83 | 0.74 | 0.90 | 0.93 | 0.90 | 0.85 | 0.84 | ||||||
| Pfizer Inc. | 0.74 | 0.75 | 0.69 | 0.80 | 0.67 | 0.80 | 0.74 | 0.56 | 0.42 | 0.57 | 0.50 | 1.78 | 1.59 | 0.88 | 0.80 | 1.18 | 1.02 | 0.95 | ||||||
| Thermo Fisher Scientific Inc. | 1.01 | 0.97 | 1.36 | 0.95 | 1.29 | 1.20 | 1.14 | 1.13 | 1.24 | 1.19 | 1.27 | 1.13 | 0.89 | 0.80 | 1.06 | 1.06 | 0.98 | 0.97 | ||||||
| Vertex Pharmaceuticals Inc. | 2.54 | 2.38 | 2.24 | 1.84 | 2.00 | 2.12 | 2.17 | 2.08 | 2.10 | 3.15 | 3.60 | 3.74 | 3.82 | 3.95 | 4.46 | 4.28 | 4.14 | 4.37 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q2 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 14,560,000 ÷ 5,530,600 = 2.63
2 Click competitor name to see calculations.
The financial data indicates a period of high liquidity that experienced a gradual contraction toward the end of the analyzed timeframe. While a strong capacity to cover short-term obligations with liquid assets was maintained throughout, a clear shift in the balance between quick assets and current liabilities occurred between 2023 and 2026.
- Total Quick Assets Trend
- Quick assets exhibited a consistent upward trajectory from March 2022, rising from approximately 11.89 billion USD to a peak of 16.51 billion USD by December 2023. Following this peak, a period of moderation occurred, with assets declining to a low of 13.08 billion USD in June 2025 before stabilizing and recovering slightly to 14.56 billion USD by June 2026.
- Current Liabilities Expansion
- Current liabilities remained relatively stable between March 2022 and December 2024, generally fluctuating between 2.88 billion USD and 3.94 billion USD. However, a notable acceleration in liability growth began in September 2025, with obligations rising sharply to 4.43 billion USD and continuing an upward climb to 5.53 billion USD by June 2026, indicating a substantial increase in short-term financial commitments.
- Quick Ratio Dynamics
- The quick ratio followed a bell-shaped trajectory over the period. Starting at 3.95 in March 2022, the ratio climbed to a maximum of 4.82 in December 2023, signaling an exceptionally strong liquidity cushion. Subsequently, a sustained decline was observed, with the ratio falling to 2.63 by June 2026. This compression is primarily attributed to the rapid increase in current liabilities coinciding with the relative stagnation of quick assets during the final year of the analysis.
In summary, the liquidity profile transitioned from a state of extreme surplus to a more moderate position. Although the downward trend in the quick ratio is evident, the final value remains significantly above the conventional benchmark of 1.0, suggesting that the entity continues to maintain a robust ability to meet its immediate financial obligations.
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Cash Ratio
Regeneron Pharmaceuticals Inc., cash ratio calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||
| Cash and cash equivalents | 2,455,800) | 2,962,600) | 3,118,100) | 2,506,400) | 1,995,800) | 3,090,200) | 2,488,200) | 2,011,800) | 1,920,700) | 2,602,000) | 2,730,000) | 2,152,300) | 1,937,200) | 3,916,300) | 3,105,900) | 3,491,300) | 3,395,100) | 3,345,700) | ||||||
| Marketable securities | 5,538,800) | 5,791,100) | 5,487,100) | 5,937,200) | 5,473,800) | 5,259,200) | 6,524,300) | 7,784,700) | 7,888,300) | 7,917,500) | 8,114,800) | 7,761,300) | 6,990,500) | 5,043,400) | 4,636,400) | 3,530,400) | 4,171,300) | 3,704,900) | ||||||
| Total cash assets | 7,994,600) | 8,753,700) | 8,605,200) | 8,443,600) | 7,469,600) | 8,349,400) | 9,012,500) | 9,796,500) | 9,809,000) | 10,519,500) | 10,844,800) | 9,913,600) | 8,927,700) | 8,959,700) | 7,742,300) | 7,021,700) | 7,566,400) | 7,050,600) | ||||||
| Current liabilities | 5,530,600) | 5,107,700) | 4,368,400) | 4,425,100) | 3,667,000) | 3,566,600) | 3,944,300) | 3,661,000) | 3,508,600) | 3,580,900) | 3,423,400) | 3,598,600) | 3,104,400) | 3,100,100) | 3,141,300) | 2,879,200) | 3,033,900) | 3,007,600) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Cash ratio1 | 1.45 | 1.71 | 1.97 | 1.91 | 2.04 | 2.34 | 2.28 | 2.68 | 2.80 | 2.94 | 3.17 | 2.75 | 2.88 | 2.89 | 2.46 | 2.44 | 2.49 | 2.34 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||
| AbbVie Inc. | 0.16 | 0.22 | 0.12 | 0.14 | 0.16 | 0.14 | 0.14 | 0.17 | 0.31 | 0.44 | 0.34 | 0.38 | 0.27 | 0.24 | 0.31 | 0.36 | 0.25 | 0.19 | ||||||
| Amgen Inc. | — | 0.48 | 0.36 | 0.43 | 0.39 | 0.38 | 0.52 | 0.44 | 0.43 | 0.49 | 0.60 | 2.05 | 2.00 | 2.22 | 0.59 | 0.80 | 0.57 | 0.51 | ||||||
| Bristol-Myers Squibb Co. | 0.59 | 0.55 | 0.46 | 0.59 | 0.49 | 0.49 | 0.46 | 0.36 | 0.29 | 0.37 | 0.55 | 0.33 | 0.43 | 0.49 | 0.42 | 0.48 | 0.63 | 0.66 | ||||||
| Danaher Corp. | 0.54 | 0.76 | 0.68 | 0.24 | 0.44 | 0.30 | 0.31 | 0.36 | 0.35 | 0.90 | 0.71 | 1.31 | 1.02 | 0.85 | 0.71 | 0.64 | 0.53 | 0.49 | ||||||
| Eli Lilly & Co. | — | 0.14 | 0.21 | 0.24 | 0.09 | 0.10 | 0.12 | 0.14 | 0.12 | 0.13 | 0.10 | 0.11 | 0.14 | 0.22 | 0.12 | 0.17 | 0.17 | 0.18 | ||||||
| Gilead Sciences Inc. | — | 0.81 | 0.65 | 0.60 | 0.47 | 0.64 | 0.83 | 0.43 | 0.26 | 0.36 | 0.64 | 0.57 | 0.48 | 0.56 | 0.57 | 0.54 | 0.61 | 0.62 | ||||||
| Johnson & Johnson | 0.38 | 0.38 | 0.37 | 0.36 | 0.35 | 0.68 | 0.49 | 0.39 | 0.47 | 0.54 | 0.50 | 0.53 | 0.53 | 0.54 | 0.42 | 0.75 | 0.73 | 0.70 | ||||||
| Merck & Co. Inc. | — | 0.21 | 0.51 | 0.64 | 0.33 | 0.37 | 0.48 | 0.49 | 0.44 | 0.22 | 0.28 | 0.38 | 0.27 | 0.45 | 0.54 | 0.49 | 0.44 | 0.40 | ||||||
| Pfizer Inc. | 0.36 | 0.38 | 0.37 | 0.41 | 0.35 | 0.48 | 0.48 | 0.23 | 0.16 | 0.29 | 0.27 | 1.42 | 1.29 | 0.55 | 0.54 | 0.82 | 0.70 | 0.61 | ||||||
| Thermo Fisher Scientific Inc. | 0.27 | 0.22 | 0.67 | 0.24 | 0.50 | 0.45 | 0.42 | 0.46 | 0.60 | 0.52 | 0.58 | 0.43 | 0.22 | 0.22 | 0.50 | 0.26 | 0.17 | 0.23 | ||||||
| Vertex Pharmaceuticals Inc. | 1.99 | 1.87 | 1.71 | 1.40 | 1.54 | 1.64 | 1.72 | 1.64 | 1.63 | 2.68 | 3.16 | 3.31 | 3.35 | 3.44 | 3.93 | 3.74 | 3.62 | 3.78 | ||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31).
1 Q2 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 7,994,600 ÷ 5,530,600 = 1.45
2 Click competitor name to see calculations.
An analysis of the liquidity position between March 2022 and June 2026 reveals a cyclical pattern in the cash ratio, characterized by an initial phase of liquidity expansion followed by a sustained contraction.
- Cash Asset Dynamics
- Total cash assets exhibited a strong upward trend from March 2022, rising from 7.05 billion to a peak of 10.84 billion by December 2023. Following this peak, cash levels experienced a gradual decline, reaching a low of 7.47 billion in June 2025 before stabilizing near 7.99 billion by June 2026.
- Current Liability Trends
- Current liabilities remained relatively stable, fluctuating between 2.88 billion and 3.66 billion from March 2022 through March 2024. However, a significant upward trajectory emerged in the latter half of the period, with obligations increasing to 5.53 billion by June 2026, reflecting a substantial increase in short-term liabilities.
- Cash Ratio Performance
- The cash ratio peaked at 3.17 in December 2023, indicating an exceptionally strong capacity to cover short-term obligations with liquid assets. Subsequently, the ratio entered a consistent downward trend, falling to 1.45 by June 2026. This decline was driven by the simultaneous reduction in cash holdings and the acceleration of current liabilities.
Despite the downward trend observed since early 2024, the cash ratio remained above 1.0 throughout the entire period. This indicates that the organization maintained sufficient cash reserves to meet all current liabilities without relying on the sale of other current assets or external financing, although the margin of safety narrowed significantly toward the end of the observed timeframe.
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