Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Accenture PLC, liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-K (reporting date: 2025-08-31), 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30).
The analysis of liquidity ratios over the observed period reveals a general pattern of stability followed by a significant contraction and subsequent recovery. Liquidity levels remained relatively consistent from late 2020 through 2023, before experiencing a downward trajectory that reached its nadir in August 2024.
- Current Ratio
- The current ratio began at 1.45 and exhibited a gradual decline, reaching a low of 1.10 in August 2024. A sharp reversal occurred in November 2024, with the ratio climbing to 1.47. Subsequent quarters show a stabilization phase, with the ratio maintaining a range between 1.34 and 1.48, indicating a consistent ability to cover short-term obligations.
- Quick Ratio
- The quick ratio closely tracks the movements of the current ratio, starting at 1.34 and dipping to a period low of 0.98 in August 2024. The subsequent recovery to 1.33 in November 2024 mirrors the trend of the current ratio. The minimal variance between the current and quick ratios suggests that inventory represents a negligible portion of the current asset base.
- Cash Ratio
- The cash ratio demonstrates higher volatility compared to the broader liquidity measures. From a starting point of 0.68, it trended downward to 0.26 by August 2024. A strong recovery followed, peaking at 0.56 in August 2025 before settling at 0.47 by May 2026. This indicates significant fluctuations in cash and cash equivalents relative to current liabilities.
Overall, the liquidity profile is characterized by a distinct V-shaped recovery starting in the fourth quarter of 2024. While the period of contraction in mid-2024 saw ratios approach their lowest levels, the rapid return to higher benchmarks indicates a restoration of short-term financial flexibility and a strong liquid position moving into 2026.
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Current Ratio
Accenture PLC, current ratio calculation (quarterly data)
| May 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Current assets | 28,938,345) | 28,007,338) | 28,066,694) | 28,900,689) | 27,416,505) | 25,307,652) | 25,198,337) | 20,857,781) | 21,075,418) | 20,328,821) | 23,055,576) | 23,381,931) | 23,380,073) | 21,060,958) | 20,672,460) | 21,610,871) | 21,007,740) | 19,185,130) | 18,621,652) | 19,666,511) | 21,144,858) | 19,560,720) | 18,626,094) | |||||||
| Current liabilities | 21,609,107) | 20,957,440) | 19,896,521) | 20,352,097) | 18,768,835) | 17,130,355) | 17,186,968) | 18,976,127) | 18,207,753) | 16,136,014) | 17,280,238) | 18,009,038) | 17,092,528) | 16,349,522) | 16,460,246) | 17,523,496) | 16,562,592) | 15,540,122) | 15,232,007) | 15,708,867) | 14,929,559) | 14,090,668) | 12,819,099) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||||
| Current ratio1 | 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 | 1.25 | 1.42 | 1.39 | 1.45 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||||||
| Adobe Inc. | — | 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 | 1.25 | 1.39 | 1.31 | 1.27 | |||||||
| 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. | 1.45 | 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 | 1.94 | 1.96 | 1.53 | 3.09 | |||||||
| Microsoft Corp. | 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. | 1.35 | 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 | — | — | — | — | |||||||
| Palo Alto Networks Inc. | 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 | 0.91 | 1.38 | 0.98 | 1.63 | |||||||
| Salesforce Inc. | 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 | 1.16 | 1.18 | 1.19 | 1.10 | |||||||
| Workday Inc. | 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-Q (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-K (reporting date: 2025-08-31), 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30).
1 Q3 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 28,938,345 ÷ 21,609,107 = 1.34
2 Click competitor name to see calculations.
The liquidity position over the period from November 2020 to May 2026 demonstrates a sustained ability to cover short-term obligations, with the current ratio consistently remaining above 1.0. While the ratio experienced periods of contraction and expansion, the overall trend indicates a managed approach to working capital.
- Current Ratio Trends and Volatility
- The current ratio initiated the period at 1.45 in November 2020 and entered a general phase of gradual decline, reaching a multi-year low of 1.10 by August 2024. Following this trough, a sharp recovery occurred, with the ratio peaking at 1.48 in February 2025. The period concluded with the ratio stabilizing at 1.34 in May 2026, suggesting a return to a baseline liquidity level similar to the 2021-2023 average.
- Growth Analysis of Current Assets and Liabilities
- A long-term upward trend is observed in both current assets and current liabilities. Current assets grew from $18.6 billion in November 2020 to $28.9 billion by May 2026. Simultaneously, current liabilities increased from $12.8 billion to $21.6 billion. The expansion of the balance sheet suggests increased scale in operations, though the liquidity ratio fluctuates based on the relative pace of growth between these two components.
- Significant Liquidity Inflection Points
- A notable shift in liquidity occurred between August 2024 and November 2024. During this interval, current assets increased by approximately $4.3 billion while current liabilities decreased by $1.8 billion. This divergence resulted in the current ratio rising from 1.10 to 1.47 within a single quarter, marking the most significant short-term improvement in liquidity across the entire observed timeframe.
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Quick Ratio
Accenture PLC, quick ratio calculation (quarterly data)
| May 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Cash and cash equivalents | 10,165,245) | 9,399,183) | 9,649,405) | 11,478,729) | 9,631,607) | 8,490,438) | 8,306,055) | 5,004,469) | 5,537,217) | 5,121,107) | 7,140,841) | 9,045,032) | 8,535,446) | 6,238,787) | 5,899,703) | 7,889,833) | 6,703,568) | 5,466,116) | 5,637,117) | 8,168,174) | 10,009,380) | 9,166,578) | 8,594,003) | |||||||
| Short-term investments | 6,322) | 6,413) | 5,906) | 5,945) | 5,788) | 5,062) | 5,150) | 5,396) | 4,878) | 4,540) | 4,597) | 4,575) | 4,482) | 4,189) | 4,095) | 3,973) | 4,322) | 6,031) | 6,968) | 4,294) | 4,433) | 3,518) | 83,148) | |||||||
| Receivables and contract assets | 16,035,963) | 15,737,519) | 16,006,709) | 14,985,073) | 15,100,877) | 14,281,294) | 14,574,637) | 13,664,847) | 13,199,388) | 13,080,504) | 13,241,359) | 12,227,186) | 12,582,660) | 12,499,168) | 12,610,353) | 11,776,775) | 12,219,074) | 11,590,876) | 11,120,401) | 9,728,212) | 9,473,441) | 8,725,392) | 8,547,711) | |||||||
| Total quick assets | 26,207,530) | 25,143,115) | 25,662,020) | 26,469,747) | 24,738,272) | 22,776,794) | 22,885,842) | 18,674,712) | 18,741,483) | 18,206,151) | 20,386,797) | 21,276,793) | 21,122,588) | 18,742,144) | 18,514,151) | 19,670,581) | 18,926,964) | 17,063,023) | 16,764,486) | 17,900,680) | 19,487,254) | 17,895,488) | 17,224,862) | |||||||
| Current liabilities | 21,609,107) | 20,957,440) | 19,896,521) | 20,352,097) | 18,768,835) | 17,130,355) | 17,186,968) | 18,976,127) | 18,207,753) | 16,136,014) | 17,280,238) | 18,009,038) | 17,092,528) | 16,349,522) | 16,460,246) | 17,523,496) | 16,562,592) | 15,540,122) | 15,232,007) | 15,708,867) | 14,929,559) | 14,090,668) | 12,819,099) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||||
| Quick ratio1 | 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 | 1.14 | 1.31 | 1.27 | 1.34 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||||||
| Adobe Inc. | — | 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 | 1.11 | 1.25 | 1.18 | 1.12 | |||||||
| 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. | 0.76 | 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 | 1.60 | 1.72 | 1.20 | 2.74 | |||||||
| Microsoft Corp. | 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. | 1.22 | 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 | — | — | — | — | |||||||
| Palo Alto Networks Inc. | 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 | 0.86 | 1.23 | 0.88 | 1.48 | |||||||
| Salesforce Inc. | 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 | 0.89 | 0.90 | 0.92 | 0.83 | |||||||
| Workday Inc. | 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-Q (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-K (reporting date: 2025-08-31), 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30).
1 Q3 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 26,207,530 ÷ 21,609,107 = 1.21
2 Click competitor name to see calculations.
The liquidity position of the entity exhibits a fluctuating but generally stable trend over the analyzed period, with the quick ratio predominantly remaining above the 1.0 threshold. While there is a long-term growth in both liquid assets and current obligations, the ability to cover short-term liabilities with quick assets has remained largely intact, despite a brief period of compression in 2024.
- Growth in Balance Sheet Components
- A consistent upward trajectory is observed in both total quick assets and current liabilities. Total quick assets increased from approximately 17.2 billion USD in November 2020 to 26.2 billion USD by May 2026. During the same interval, current liabilities rose from 12.8 billion USD to 21.6 billion USD. This concurrent growth indicates an expansion of the operational scale while attempting to maintain a proportional liquidity buffer.
- Liquidity Fluctuations and Stability
- Between November 2020 and November 2021, a gradual decline in the quick ratio is noted, moving from 1.34 to 1.10. The ratio then entered a phase of relative stability throughout 2022 and 2023, generally oscillating between 1.10 and 1.24, suggesting a controlled balance between liquid resources and short-term debts.
- Analysis of the 2024 Liquidity Dip
- A notable contraction in liquidity occurred during the first half of 2024. The quick ratio declined to 1.03 in February 2024 and reached a period low of 0.98 in August 2024. This represents the only instance in the analyzed timeframe where current liabilities exceeded total quick assets, indicating a temporary tightening of immediate liquidity.
- Recovery and Current Status
- Following the August 2024 low, a sharp recovery is observed, with the ratio rebounding to 1.33 by November 2024. For the remainder of the period through May 2026, the ratio has stabilized within a range of 1.20 to 1.33, reflecting a return to a more conservative liquidity posture and a strengthened capacity to meet immediate financial obligations.
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Cash Ratio
Accenture PLC, cash ratio calculation (quarterly data)
| May 31, 2026 | Feb 28, 2026 | Nov 30, 2025 | Aug 31, 2025 | May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Cash and cash equivalents | 10,165,245) | 9,399,183) | 9,649,405) | 11,478,729) | 9,631,607) | 8,490,438) | 8,306,055) | 5,004,469) | 5,537,217) | 5,121,107) | 7,140,841) | 9,045,032) | 8,535,446) | 6,238,787) | 5,899,703) | 7,889,833) | 6,703,568) | 5,466,116) | 5,637,117) | 8,168,174) | 10,009,380) | 9,166,578) | 8,594,003) | |||||||
| Short-term investments | 6,322) | 6,413) | 5,906) | 5,945) | 5,788) | 5,062) | 5,150) | 5,396) | 4,878) | 4,540) | 4,597) | 4,575) | 4,482) | 4,189) | 4,095) | 3,973) | 4,322) | 6,031) | 6,968) | 4,294) | 4,433) | 3,518) | 83,148) | |||||||
| Total cash assets | 10,171,567) | 9,405,596) | 9,655,311) | 11,484,674) | 9,637,395) | 8,495,500) | 8,311,205) | 5,009,865) | 5,542,095) | 5,125,647) | 7,145,438) | 9,049,607) | 8,539,928) | 6,242,976) | 5,903,798) | 7,893,806) | 6,707,890) | 5,472,147) | 5,644,085) | 8,172,468) | 10,013,813) | 9,170,096) | 8,677,151) | |||||||
| Current liabilities | 21,609,107) | 20,957,440) | 19,896,521) | 20,352,097) | 18,768,835) | 17,130,355) | 17,186,968) | 18,976,127) | 18,207,753) | 16,136,014) | 17,280,238) | 18,009,038) | 17,092,528) | 16,349,522) | 16,460,246) | 17,523,496) | 16,562,592) | 15,540,122) | 15,232,007) | 15,708,867) | 14,929,559) | 14,090,668) | 12,819,099) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||||
| Cash ratio1 | 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 | 0.52 | 0.67 | 0.65 | 0.68 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||||||
| Adobe Inc. | — | 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 | 0.84 | 1.00 | 0.94 | 0.85 | |||||||
| 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. | 0.55 | 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 | 1.46 | 1.52 | 1.02 | 2.69 | |||||||
| Microsoft Corp. | 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. | 0.96 | 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 | — | — | — | — | |||||||
| Palo Alto Networks Inc. | 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 | 0.57 | 0.98 | 0.72 | 1.22 | |||||||
| Salesforce Inc. | 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 | 0.65 | 0.66 | 0.65 | 0.47 | |||||||
| Workday Inc. | 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-Q (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-K (reporting date: 2025-08-31), 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30).
1 Q3 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 10,171,567 ÷ 21,609,107 = 0.47
2 Click competitor name to see calculations.
The liquidity profile exhibits a cyclical pattern characterized by significant fluctuations in cash reserves against a backdrop of steadily increasing short-term obligations. The cash ratio, which measures the ability to cover current liabilities with only cash and cash equivalents, demonstrates notable volatility over the analyzed period, ranging from a high of 0.68 to a low of 0.26.
- Cash Ratio Trends
- A marked decline in the cash ratio is observed between November 2020 (0.68) and February 2022 (0.35). While a recovery period occurred in mid-2023, reaching 0.50, the ratio experienced another sharp contraction to its period low of 0.26 by August 2024. A subsequent rebound saw the ratio peak at 0.56 in August 2025, before settling at 0.47 by May 2026.
- Total Cash Asset Dynamics
- Cash assets followed a non-linear trajectory. Starting at approximately 8.68 billion US$ in November 2020, levels fluctuated significantly, reaching a trough of 5.13 billion US$ in February 2024. This was followed by a strong accumulation phase that culminated in a peak of 11.48 billion US$ in August 2025, suggesting strategic liquidity management or periodic cash inflows.
- Current Liability Growth
- Current liabilities maintained a consistent and nearly linear upward trajectory throughout the period. Obligations increased from 12.82 billion US$ in November 2020 to 21.61 billion US$ by May 2026. This steady expansion of short-term liabilities exerted persistent downward pressure on the cash ratio during intervals when cash asset growth did not keep pace with the increase in obligations.
- Liquidity Interpretation
- The periodic dips in the cash ratio, specifically those falling below 0.40, indicate phases of aggressive cash deployment or an increase in short-term leveraging. However, the repeated recovery of the ratio toward the 0.50 level suggests a disciplined approach to maintaining a liquidity buffer, ensuring that a significant portion of current obligations can be met with immediate liquid assets.
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