Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Bristol-Myers Squibb Co., 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).
The overall liquidity profile exhibits a period of volatility between early 2022 and mid-2024, followed by a consistent strengthening of short-term solvency metrics through the second quarter of 2026. While the company maintained a current ratio above 1.0 throughout the entire period, a noticeable tightening of liquidity occurred during 2023 and early 2024 before a recovery phase began.
- Current Ratio
- The current ratio fluctuated between a high of 1.53 in June 2026 and a low of 1.11 in March 2024. An initial period of stability above 1.30 was followed by a gradual decline that bottomed out in early 2024. Subsequent quarters show a steady upward trajectory, indicating an improved ability to cover short-term obligations with current assets.
- Quick Ratio
- The quick ratio highlights a more pronounced dip in liquidity, falling from 1.03 in March 2022 to a trough of 0.77 in September 2023. The ratio remained below the 1.0 threshold for an extended period, reaching 0.78 again in June 2024, which suggests a higher reliance on inventory or other less liquid current assets. However, a strong recovery is observed starting in late 2024, with the ratio climbing back above 1.0 by March 2026 to reach 1.16.
- Cash Ratio
- The cash ratio experienced the most significant contraction, moving from 0.66 in March 2022 to a low of 0.29 in June 2024. This downward trend indicates a reduction in the most liquid assets relative to current liabilities during the 2023-2024 window. A reversal of this trend is evident from July 2024 onward, with the ratio steadily increasing to 0.59 by June 2026, effectively returning to the levels observed at the start of the analyzed period.
The convergence of these trends suggests that the company navigated a period of diminished liquidity that peaked in the first half of 2024. The simultaneous recovery across all three ratios indicates a systemic improvement in the company's short-term financial flexibility and a strengthened cash position heading into 2026.
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Current Ratio
Bristol-Myers Squibb Co., 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 millions) | ||||||||||||||||||||||||
| Current assets | 28,579) | 27,208) | 29,390) | 35,630) | 33,222) | 30,783) | 29,780) | 28,075) | 26,890) | 28,669) | 31,770) | 27,632) | 28,074) | 27,086) | 27,273) | 26,796) | 30,186) | 30,121) | ||||||
| Current liabilities | 18,659) | 19,158) | 23,417) | 28,136) | 27,528) | 24,070) | 23,774) | 22,638) | 23,265) | 25,822) | 22,262) | 23,462) | 20,150) | 19,085) | 21,890) | 18,930) | 20,915) | 22,821) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Current ratio1 | 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 | ||||||
| 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. | 1.37 | 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 | ||||||
| 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. | 1.35 | 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. | 1.27 | 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. | 1.32 | 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 | ||||||
| Regeneron Pharmaceuticals Inc. | 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 | ||||||
| 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
= 28,579 ÷ 18,659 = 1.53
2 Click competitor name to see calculations.
The liquidity position of the organization demonstrates consistent stability over the analyzed period, as the current ratio remained above 1.0 throughout all quarters. This indicates a continuous ability to cover short-term obligations with current assets, although the margin of safety fluctuated significantly between 2022 and 2026.
- Current Ratio Volatility and Recovery
- The current ratio exhibited a period of instability between March 2023 and March 2024, descending from 1.42 to a period low of 1.11. Following this trough, a sustained upward trajectory is observed, culminating in a peak of 1.53 by June 30, 2026. This represents a strengthening of the short-term financial position and an increased buffer against immediate liabilities.
- Current Assets Analysis
- Current assets showed moderate fluctuations, generally oscillating between 26 billion and 32 billion US dollars. A significant peak occurred on September 30, 2025, reaching 35.63 billion US dollars. Despite a subsequent contraction in late 2025 and early 2026, asset levels stabilized around 28.58 billion US dollars by the end of the period.
- Current Liabilities Trends
- Short-term obligations peaked in September 2025 at 28.14 billion US dollars, closely tracking the increase in assets during that period. However, a substantial reduction in liabilities is evident in the first half of 2026, with current liabilities dropping to 18.66 billion US dollars by June 30, 2026. This strategic reduction in obligations served as the primary driver for the improvement in the current ratio during the final two quarters of the analysis.
- Overall Liquidity Interpretation
- The shift from a ratio of 1.11 in March 2024 to 1.53 in June 2026 suggests an optimization of the balance sheet. The most recent data indicates a healthier liquidity profile, characterized by a lower liability burden relative to the available current asset base.
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Quick Ratio
Bristol-Myers Squibb Co., 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 millions) | ||||||||||||||||||||||||
| Cash and cash equivalents | 8,722) | 9,574) | 10,209) | 15,726) | 12,599) | 10,875) | 10,346) | 7,890) | 6,293) | 9,330) | 11,464) | 7,514) | 8,372) | 8,995) | 9,123) | 7,734) | 10,750) | 12,369) | ||||||
| Marketable debt securities | 2,345) | 912) | 464) | 776) | 1,004) | 907) | 513) | 204) | 360) | 340) | 816) | 171) | 358) | 274) | 130) | 1,293) | 2,478) | 2,599) | ||||||
| Receivables | 10,553) | 9,368) | 11,414) | 11,422) | 11,415) | 10,801) | 10,747) | 11,026) | 11,423) | 10,447) | 10,921) | 10,304) | 10,112) | 10,054) | 9,886) | 9,613) | 9,054) | 8,511) | ||||||
| Total quick assets | 21,620) | 19,854) | 22,087) | 27,924) | 25,018) | 22,583) | 21,606) | 19,120) | 18,076) | 20,117) | 23,201) | 17,989) | 18,842) | 19,323) | 19,139) | 18,640) | 22,282) | 23,479) | ||||||
| Current liabilities | 18,659) | 19,158) | 23,417) | 28,136) | 27,528) | 24,070) | 23,774) | 22,638) | 23,265) | 25,822) | 22,262) | 23,462) | 20,150) | 19,085) | 21,890) | 18,930) | 20,915) | 22,821) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Quick ratio1 | 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 | ||||||
| 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. | 0.95 | 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 | ||||||
| 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. | 0.68 | 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. | 0.75 | 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. | 0.71 | 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 | ||||||
| Regeneron Pharmaceuticals Inc. | 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 | ||||||
| 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
= 21,620 ÷ 18,659 = 1.16
2 Click competitor name to see calculations.
The liquidity profile exhibits significant volatility over the analyzed period, characterized by alternating phases of asset accumulation and liability expansion. The overall trend shows a movement from a position of sufficiency to a period of liquidity tightening, followed by a strong recovery toward the end of the timeframe.
- Quick Ratio Fluctuations
- The quick ratio fluctuated between a minimum of 0.77 in September 2023 and a peak of 1.16 in June 2026. A recurring pattern of instability is observed between December 2022 and March 2025, during which the ratio frequently dropped below the 1.0 threshold. This indicates periods where highly liquid assets were insufficient to cover immediate current liabilities without the liquidation of inventory.
- Quick Asset Dynamics
- Total quick assets demonstrated an inconsistent trajectory, reaching a trough of 17.99 billion USD in September 2023. A period of expansion followed, with assets peaking at 27.92 billion USD in September 2025. The subsequent decline and stabilization around 21.62 billion USD by June 2026 suggest active management of short-term cash and marketable securities.
- Current Liabilities Trends
- Current liabilities experienced a general increase, peaking at 28.14 billion USD in June 2025. This peak coincided with a period of constrained liquidity. However, a significant reduction in liabilities is noted in the final three quarters, falling to 18.66 billion USD by June 2026. This reduction in short-term obligations was a primary driver in the improvement of the liquidity position.
- Liquidity Recovery Phase
- A sustained recovery in the liquidity position is observable starting in late 2024. The quick ratio rose steadily from 0.84 in September 2024 to 1.16 in June 2026. This recovery was achieved through a two-step process: an initial increase in quick assets during 2025, followed by a strategic reduction in current liabilities during the first half of 2026.
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Cash Ratio
Bristol-Myers Squibb Co., 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 millions) | ||||||||||||||||||||||||
| Cash and cash equivalents | 8,722) | 9,574) | 10,209) | 15,726) | 12,599) | 10,875) | 10,346) | 7,890) | 6,293) | 9,330) | 11,464) | 7,514) | 8,372) | 8,995) | 9,123) | 7,734) | 10,750) | 12,369) | ||||||
| Marketable debt securities | 2,345) | 912) | 464) | 776) | 1,004) | 907) | 513) | 204) | 360) | 340) | 816) | 171) | 358) | 274) | 130) | 1,293) | 2,478) | 2,599) | ||||||
| Total cash assets | 11,067) | 10,486) | 10,673) | 16,502) | 13,603) | 11,782) | 10,859) | 8,094) | 6,653) | 9,670) | 12,280) | 7,685) | 8,730) | 9,269) | 9,253) | 9,027) | 13,228) | 14,968) | ||||||
| Current liabilities | 18,659) | 19,158) | 23,417) | 28,136) | 27,528) | 24,070) | 23,774) | 22,638) | 23,265) | 25,822) | 22,262) | 23,462) | 20,150) | 19,085) | 21,890) | 18,930) | 20,915) | 22,821) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Cash ratio1 | 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 | ||||||
| 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. | 0.55 | 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 | ||||||
| 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. | 0.19 | 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. | 0.29 | 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. | 0.26 | 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 | ||||||
| Regeneron Pharmaceuticals Inc. | 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 | ||||||
| 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
= 11,067 ÷ 18,659 = 0.59
2 Click competitor name to see calculations.
The liquidity position of the organization exhibits significant volatility over the period from March 2022 to June 2026. The cash ratio, which measures the ability to settle short-term obligations using only cash and cash equivalents, experienced an initial downward trajectory followed by a period of instability and a subsequent recovery toward the end of the analyzed timeframe.
- Cash Ratio Trends
- The cash ratio began at 0.66 in March 2022 and declined to 0.42 by December 2022. Despite a temporary recovery to 0.55 in December 2023, the ratio reached its lowest point of 0.29 in June 2024. From mid-2024 through June 2026, a consistent recovery trend is observable, with the ratio returning to 0.59.
- Cash Asset Volatility
- Total cash assets showed substantial variance, starting at 14,968 million USD in March 2022 and falling to a minimum of 6,653 million USD in June 2024. A notable peak occurred in September 2025, where cash assets reached 16,502 million USD, indicating a period of significant liquidity accumulation.
- Current Liabilities Analysis
- Current liabilities fluctuated throughout the period, peaking at 28,136 million USD in September 2025. A significant reduction in these obligations is observed toward the end of the period, with liabilities decreasing to 18,659 million USD by June 2026, which contributed to the improvement in the overall liquidity ratio.
- Liquidity Correlation
- The movement in the cash ratio was driven by the divergent trends between assets and liabilities. The decline to the 0.29 low in June 2024 resulted from the simultaneous drop in cash assets and the relative stability of current liabilities. Conversely, the recovery to 0.59 by June 2026 was facilitated by a combination of stabilizing cash levels and a marked decrease in short-term liabilities.
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