Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Synopsys Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-K (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31).
The liquidity position exhibits a period of relative stability from January 2021 through October 2023, followed by a significant expansion in liquidity metrics throughout 2024 and an extreme peak in early 2025, before returning to normalized levels.
- Current Ratio
- Between January 2021 and October 2023, the current ratio remained steady, generally fluctuating between 1.09 and 1.29. A marked upward trend began in January 2024, with the ratio climbing sequentially to 2.68 by January 2025. An exceptional spike to 7.02 occurred in April 2025, representing a temporary surge in short-term solvency. Subsequently, the ratio stabilized between 1.36 and 1.62 from July 2025 through April 2026.
- Quick Ratio
- The quick ratio mirrored the current ratio's trajectory but remained below the 1.0 threshold for the majority of the first three years, indicating a reliance on a small portion of current assets to cover immediate liabilities. A transition occurred in April 2024 as the ratio exceeded 1.0, reaching 1.99 by January 2025. Similar to the current ratio, a sharp peak of 6.34 was recorded in April 2025, followed by a correction to a range of 0.98 to 1.20 in the final periods.
- Cash Ratio
- Cash liquidity remained consistent between 0.47 and 0.70 from 2021 to 2023. A growth phase emerged in 2024, culminating in a ratio of 1.62 in January 2025. The most significant anomaly is observed in April 2025, where the cash ratio surged to 5.93. Following this event, the ratio reverted to a baseline between 0.56 and 0.80 by April 2026.
- Liquidity Correlation and Volatility
- A high degree of correlation exists between all three metrics, suggesting that the fluctuations in liquidity are driven primarily by changes in cash and cash equivalents rather than inventory or other current assets. The extreme volatility observed in April 2025 across all ratios indicates a temporary but substantial influx of liquid assets or a significant reduction in current liabilities, which was fully reversed by the second quarter of 2025.
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Current Ratio
Synopsys Inc., current ratio calculation (quarterly data)
| 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 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Current assets | 5,437,218) | 5,373,638) | 6,012,102) | 5,595,628) | 16,879,029) | 6,323,616) | 6,469,666) | 5,127,753) | 4,653,120) | 3,407,928) | 3,430,624) | 3,268,312) | 3,160,935) | 3,028,399) | 3,012,669) | 2,899,028) | 3,074,246) | 2,947,497) | 2,808,341) | 2,763,976) | 2,689,800) | 2,397,724) | |||||||
| Current liabilities | 3,790,632) | 3,942,650) | 3,722,494) | 3,444,207) | 2,406,076) | 2,358,594) | 2,650,120) | 2,534,950) | 2,508,350) | 2,644,507) | 2,985,451) | 2,729,982) | 2,748,680) | 2,724,997) | 2,774,499) | 2,545,863) | 2,462,658) | 2,471,656) | 2,413,484) | 2,334,636) | 2,255,700) | 2,171,383) | |||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||
| Current ratio1 | 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 | 1.16 | 1.18 | 1.19 | 1.10 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||||||||
| Accenture PLC | 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 | 1.25 | 1.42 | 1.39 | 1.45 | |||||||
| Adobe Inc. | — | 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 | 1.25 | 1.39 | 1.31 | 1.27 | |||||||
| AppLovin Corp. | — | 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. | — | 1.47 | 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 | — | — | — | — | |||||||
| CrowdStrike Holdings Inc. | 1.88 | 1.85 | 1.77 | 1.86 | 1.90 | 1.80 | 1.76 | 1.74 | 1.82 | 1.78 | 1.73 | 1.76 | 1.80 | 1.83 | 1.83 | 1.90 | 1.98 | 2.07 | — | — | — | — | |||||||
| Datadog Inc. | — | 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. | — | 0.80 | 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. | 1.32 | 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 | 1.94 | 1.96 | 1.53 | 3.09 | |||||||
| Microsoft Corp. | 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 | 2.08 | 2.29 | 2.58 | 2.53 | |||||||
| Oracle Corp. | 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 | 2.30 | 2.16 | 2.17 | 2.66 | |||||||
| Palantir Technologies Inc. | — | 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 | — | — | — | — | |||||||
| Palo Alto Networks Inc. | 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 | 0.91 | 1.38 | 0.98 | 1.63 | |||||||
| Salesforce Inc. | 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. | — | 0.84 | 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 | — | — | — | — | |||||||
| Workday Inc. | 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-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-K (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31).
1 Q2 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 5,437,218 ÷ 3,790,632 = 1.43
2 Click competitor name to see calculations.
The liquidity profile of the entity exhibits three distinct phases: a period of relative stability, a phase of significant expansion, and a period of normalization following a singular extreme volatility event. Throughout the observed timeframe, the current ratio serves as the primary indicator of the organization's ability to meet short-term obligations.
- Baseline Stability Phase (January 2021 – January 2023)
- During this initial period, the current ratio remained constrained, fluctuating within a narrow range between 1.09 and 1.25. Current assets and current liabilities grew at a nearly proportional rate, suggesting a tight but managed liquidity position where short-term assets only slightly exceeded short-term obligations.
- Liquidity Expansion Phase (April 2023 – January 2024)
- A notable shift in the liquidity trajectory occurred starting in mid-2023. The current ratio climbed steadily from 1.15 in July 2023 to 2.68 by January 2024. This trend was driven by a more rapid increase in current assets relative to current liabilities, indicating a significant strengthening of the short-term financial cushion.
- Anomalous Peak and Normalization (April 2025 – April 2026)
- A critical outlier is observed on April 30, 2025, where current assets surged to approximately 16.88 billion US$, resulting in a peak current ratio of 7.02. This spike was temporary, as assets reverted to the 5.37 billion to 6.01 billion US$ range in subsequent quarters. Following this event, the current ratio stabilized between 1.36 and 1.62. Notably, while the ratio normalized, current liabilities reached a new plateau, rising from an average of 2.5 billion US$ in previous years to approximately 3.8 billion US$ by the end of the period.
Overall, the long-term trend indicates that the entity has transitioned from a lean liquidity posture (approx. 1.1x) to a more robust baseline (approx. 1.4x to 1.6x), despite the extreme short-term volatility experienced in early 2025.
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Quick Ratio
Synopsys Inc., quick ratio calculation (quarterly data)
| 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 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Cash and cash equivalents | 2,412,472) | 2,129,572) | 2,888,030) | 2,526,475) | 14,119,095) | 3,653,880) | 3,896,532) | 1,839,815) | 1,502,920) | 1,118,944) | 1,438,913) | 1,686,144) | 1,544,592) | 1,154,873) | 1,417,608) | 1,383,559) | 1,573,620) | 1,124,299) | 1,432,840) | 1,385,395) | 1,457,918) | 1,023,074) | |||||||
| Short-term investments | 71,966) | 73,910) | 72,929) | 67,235) | 144,816) | 155,489) | 153,869) | 154,431) | 156,780) | 154,490) | 151,639) | 148,443) | 150,846) | 147,050) | 147,913) | 147,599) | 146,901) | 147,748) | 147,949) | 144,773) | —) | —) | |||||||
| Accounts receivable, net | 1,267,305) | 1,640,665) | 1,505,427) | 1,392,373) | 1,002,195) | 892,647) | 934,470) | 805,198) | 834,918) | 1,064,135) | 946,967) | 666,577) | 779,892) | 1,035,323) | 796,091) | 682,647) | 722,992) | 1,038,749) | 568,501) | 577,845) | 612,285) | 789,320) | |||||||
| Total quick assets | 3,751,743) | 3,844,147) | 4,466,386) | 3,986,083) | 15,266,106) | 4,702,016) | 4,984,871) | 2,799,444) | 2,494,618) | 2,337,569) | 2,537,519) | 2,501,164) | 2,475,330) | 2,337,246) | 2,361,612) | 2,213,805) | 2,443,513) | 2,310,796) | 2,149,290) | 2,108,013) | 2,070,203) | 1,812,394) | |||||||
| Current liabilities | 3,790,632) | 3,942,650) | 3,722,494) | 3,444,207) | 2,406,076) | 2,358,594) | 2,650,120) | 2,534,950) | 2,508,350) | 2,644,507) | 2,985,451) | 2,729,982) | 2,748,680) | 2,724,997) | 2,774,499) | 2,545,863) | 2,462,658) | 2,471,656) | 2,413,484) | 2,334,636) | 2,255,700) | 2,171,383) | |||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||
| Quick ratio1 | 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 | 0.89 | 0.90 | 0.92 | 0.83 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||
| Accenture PLC | 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 | 1.14 | 1.31 | 1.27 | 1.34 | |||||||
| Adobe Inc. | — | 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 | 1.11 | 1.25 | 1.18 | 1.12 | |||||||
| AppLovin Corp. | — | 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. | — | 1.13 | 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 | — | — | — | — | |||||||
| CrowdStrike Holdings Inc. | 1.69 | 1.65 | 1.58 | 1.69 | 1.72 | 1.64 | 1.60 | 1.59 | 1.66 | 1.63 | 1.58 | 1.62 | 1.66 | 1.68 | 1.68 | 1.76 | 1.81 | 1.93 | — | — | — | — | |||||||
| Datadog Inc. | — | 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. | — | 0.65 | 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. | 0.67 | 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 | 1.60 | 1.72 | 1.20 | 2.74 | |||||||
| Microsoft Corp. | 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 | 1.90 | 2.10 | 2.36 | 2.30 | |||||||
| Oracle Corp. | 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 | 2.15 | 2.00 | 2.02 | 2.50 | |||||||
| Palantir Technologies Inc. | — | 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 | — | — | — | — | |||||||
| Palo Alto Networks Inc. | 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 | 0.86 | 1.23 | 0.88 | 1.48 | |||||||
| Salesforce Inc. | 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. | — | 0.75 | 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 | — | — | — | — | |||||||
| Workday Inc. | 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-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-K (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31).
1 Q2 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 3,751,743 ÷ 3,790,632 = 0.99
2 Click competitor name to see calculations.
The analysis of liquidity trends from January 2021 through April 2026 reveals a period of relative stability followed by a significant short-term surge in liquidity and a subsequent return to baseline levels.
- Baseline Liquidity Trends (2021–2023)
- From January 2021 to January 2024, the quick ratio remained consistently below 1.0, fluctuating within a narrow range between 0.83 and 0.99. During this phase, total quick assets grew steadily from approximately 1.8 billion to 2.3 billion, while current liabilities rose proportionally from 2.1 billion to 2.6 billion. This pattern indicates a consistent liquidity posture where quick assets were slightly insufficient to cover all immediate current liabilities without the liquidation of other current assets.
- Liquidity Expansion and Peak (2024–2025)
- A marked shift in the liquidity profile occurred starting in early 2024. The quick ratio surpassed the 1.0 threshold in July 2024 (1.10) and climbed to 1.88 by October 2024. This trend culminated in an extraordinary spike on April 30, 2025, where the quick ratio reached 6.34. This peak was driven by a surge in total quick assets to 15.27 billion, while current liabilities remained relatively stable at approximately 2.4 billion, suggesting a substantial one-time influx of highly liquid assets.
- Stabilization and Current Position (2025–2026)
- Following the peak in April 2025, the quick ratio experienced a rapid normalization. By July 2025, the ratio declined to 1.16 and continued to trend downward, ending the period at 0.99 in April 2026. During this final phase, current liabilities showed a steady upward trend, increasing from 2.4 billion in early 2025 to 3.79 billion by April 2026. The return to a ratio near 1.0 indicates that the liquidity position has reverted to a state similar to the 2021-2023 baseline, albeit with a higher absolute volume of both assets and liabilities.
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Cash Ratio
Synopsys Inc., cash ratio calculation (quarterly data)
| 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 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||
| Cash and cash equivalents | 2,412,472) | 2,129,572) | 2,888,030) | 2,526,475) | 14,119,095) | 3,653,880) | 3,896,532) | 1,839,815) | 1,502,920) | 1,118,944) | 1,438,913) | 1,686,144) | 1,544,592) | 1,154,873) | 1,417,608) | 1,383,559) | 1,573,620) | 1,124,299) | 1,432,840) | 1,385,395) | 1,457,918) | 1,023,074) | |||||||
| Short-term investments | 71,966) | 73,910) | 72,929) | 67,235) | 144,816) | 155,489) | 153,869) | 154,431) | 156,780) | 154,490) | 151,639) | 148,443) | 150,846) | 147,050) | 147,913) | 147,599) | 146,901) | 147,748) | 147,949) | 144,773) | —) | —) | |||||||
| Total cash assets | 2,484,438) | 2,203,482) | 2,960,959) | 2,593,710) | 14,263,911) | 3,809,369) | 4,050,401) | 1,994,246) | 1,659,700) | 1,273,434) | 1,590,552) | 1,834,587) | 1,695,438) | 1,301,923) | 1,565,521) | 1,531,158) | 1,720,521) | 1,272,047) | 1,580,789) | 1,530,168) | 1,457,918) | 1,023,074) | |||||||
| Current liabilities | 3,790,632) | 3,942,650) | 3,722,494) | 3,444,207) | 2,406,076) | 2,358,594) | 2,650,120) | 2,534,950) | 2,508,350) | 2,644,507) | 2,985,451) | 2,729,982) | 2,748,680) | 2,724,997) | 2,774,499) | 2,545,863) | 2,462,658) | 2,471,656) | 2,413,484) | 2,334,636) | 2,255,700) | 2,171,383) | |||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||
| Cash ratio1 | 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 | 0.65 | 0.66 | 0.65 | 0.47 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||
| Accenture PLC | 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 | 0.52 | 0.67 | 0.65 | 0.68 | |||||||
| Adobe Inc. | — | 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 | 0.84 | 1.00 | 0.94 | 0.85 | |||||||
| AppLovin Corp. | — | 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. | — | 0.65 | 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 | — | — | — | — | |||||||
| CrowdStrike Holdings Inc. | 1.43 | 1.41 | 1.25 | 1.42 | 1.48 | 1.38 | 1.29 | 1.35 | 1.42 | 1.41 | 1.28 | 1.36 | 1.41 | 1.44 | 1.42 | 1.54 | 1.57 | 1.71 | — | — | — | — | |||||||
| Datadog Inc. | — | 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. | — | 0.29 | 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. | 0.34 | 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 | 1.46 | 1.52 | 1.02 | 2.69 | |||||||
| Microsoft Corp. | 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 | 1.47 | 1.74 | 1.96 | 1.97 | |||||||
| Oracle Corp. | 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 | 1.93 | 1.77 | 1.81 | 2.26 | |||||||
| Palantir Technologies Inc. | — | 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 | — | — | — | — | |||||||
| Palo Alto Networks Inc. | 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 | 0.57 | 0.98 | 0.72 | 1.22 | |||||||
| Salesforce Inc. | 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. | — | 0.52 | 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 | — | — | — | — | |||||||
| Workday Inc. | 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-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-K (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31).
1 Q2 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 2,484,438 ÷ 3,790,632 = 0.66
2 Click competitor name to see calculations.
The liquidity profile exhibits a period of relative stability characterized by a cash ratio consistently below 1.0, interrupted by a severe short-term liquidity surge in early 2025. For the majority of the observed timeframe, the organization maintained a cash position sufficient to cover approximately 47% to 79% of its current liabilities.
- Cash Asset Dynamics
- Total cash assets remained largely range-bound between 1.02 billion USD and 1.99 billion USD from January 2021 through April 2024. A significant deviation occurred starting in October 2024, with assets climbing to 4.05 billion USD and reaching an extreme peak of 14.26 billion USD in April 2025. Following this spike, cash levels normalized, returning to a range of 2.20 billion USD to 2.96 billion USD through April 2026.
- Current Liability Trends
- Current liabilities demonstrated a gradual and consistent upward trend. Obligations rose from 2.17 billion USD in January 2021 to 2.64 billion USD by October 2023. A more pronounced increase in liabilities was observed from July 2025 onward, with the balance climbing from 3.44 billion USD to a peak of 3.94 billion USD in January 2026.
- Cash Ratio Volatility and Interpretation
- The cash ratio typically fluctuated within a baseline of 0.47 to 0.79, indicating a consistent reliance on other current assets beyond cash to meet short-term obligations. A period of exceptional liquidity was recorded between October 2024 and April 2025, where the ratio ascended from 1.53 to 5.93. This anomaly was driven exclusively by the temporary surge in total cash assets rather than a reduction in liabilities. By July 2025, the ratio reverted to 0.75, aligning with historical patterns.
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