Liquidity ratios measure the company ability to meet its short-term obligations.
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Liquidity Ratios (Summary)
Based on: 10-Q (reporting date: 2025-05-04), 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).
- Current Ratio Trend
- The current ratio exhibits fluctuations over the analyzed period, initially increasing from a low of 1.04 in May 2019 to peak levels around 1.39 in October 2022 and 1.41 in January 2023. Following this peak, the ratio gradually declined yet remained above 1.0, indicating general maintenance of liquidity. The trend suggests periods of improved short-term asset coverage of liabilities intermixed with phases of contraction, yet overall the company sustains a current ratio near or above the benchmark of 1.0, reflective of moderate liquidity stability.
- Quick Ratio Trend
- The quick ratio demonstrates greater volatility and lower absolute values compared to the current ratio, consistently remaining below 1.0 throughout the entire timeframe. There was a marked increase from 0.21 in May 2019 to a high of 0.69 in August 2020, signaling an improvement in liquid asset availability excluding inventories during that period. Subsequently, the ratio declined and fluctuated generally between 0.18 and 0.34, indicating variable ability to cover immediate liabilities with more liquid assets. These changes may highlight shifting composition of current assets and possible inventory reliance.
- Cash Ratio Trend
- The cash ratio values are consistently the lowest among the three liquidity ratios, remaining well below 0.6. Starting at 0.10 in May 2019, the ratio rose modestly to a maximum around 0.58 in August and November 2020, before retreating to lower levels evident from 2021 onward. The ratio fluctuates mostly in a range from 0.04 to 0.18 thereafter, revealing limited cash and cash equivalents relative to current liabilities. This pattern suggests a conservative cash holding strategy or greater reliance on other current assets for liquidity.
- Overall Liquidity Analysis
- The combined analysis of the liquidity ratios indicates a company that maintains moderate overall short-term financial health, with its current ratio consistently around or above 1.0, but limited immediate liquidity as seen in lower quick and cash ratios. Peaks in quick and cash ratios in mid-2020 may reflect a temporary accumulation of liquid assets, possibly related to external market conditions or internal liquidity management strategies. The subsequent declines and fluctuations imply adjustments in asset composition or liabilities management, yet there is no indication of severe liquidity stress during the period measured.
Current Ratio
May 4, 2025 | Feb 2, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||
Current ratio1 | |||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||
Current Ratio, Competitors2 | |||||||||||||||||||||||||||||||||
Amazon.com Inc. | |||||||||||||||||||||||||||||||||
Lowe’s Cos. Inc. | |||||||||||||||||||||||||||||||||
TJX Cos. Inc. |
Based on: 10-Q (reporting date: 2025-05-04), 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).
1 Q1 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Current Assets
- The current assets demonstrated a generally increasing trend over the analyzed periods. Starting at approximately 20,553 million US dollars in May 2019, the current assets reached a peak of around 34,867 million US dollars by May 2022. After this peak, current assets slightly declined and fluctuated around the 32,000 to 34,000 million US dollars range through early 2024 before rising again to 34,529 million US dollars by May 2025. The data suggests periods of substantial growth interspersed with mild contractions, indicating active management of liquid resources.
- Current Liabilities
- The current liabilities showed a gradual rising pattern throughout the timeframe. Commencing from 19,673 million US dollars in May 2019, liabilities increased steadily to approximately 30,387 million US dollars by May 2022. Following this, there was some fluctuation with values moving between roughly 22,000 and 31,500 million US dollars. The final reported figure was 31,589 million US dollars in May 2025. The consistent upward trend in liabilities corresponds with the growth in current assets but shows some volatility in the latter periods.
- Current Ratio
- The current ratio mostly remained above 1.0 throughout the periods, indicating the company generally maintained a healthy liquidity position. The ratio started near 1.04 in May 2019 and climbed to a peak of 1.41 in January 2023. After this peak, the ratio slightly declined but remained within the 1.09 to 1.35 range toward May 2025. These values reflect that current assets were consistently sufficient to cover current liabilities, although there were slight decreases indicating a moderate tightening of liquidity in some recent quarters.
- Overall Analysis
- The financial data reveals a company managing increasing levels of current assets and liabilities simultaneously. While current assets showed marked growth with some fluctuations, current liabilities also escalated steadily, impacting the liquidity ratio but never breaching critical thresholds. The current ratio's stability above 1.0 suggests ongoing ability to meet short-term obligations, although the downward trend after early 2023 may warrant monitoring.
Quick Ratio
May 4, 2025 | Feb 2, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||||||
Receivables, net | |||||||||||||||||||||||||||||||||
Total quick assets | |||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||
Quick ratio1 | |||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||
Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||||||
Amazon.com Inc. | |||||||||||||||||||||||||||||||||
Lowe’s Cos. Inc. | |||||||||||||||||||||||||||||||||
TJX Cos. Inc. |
Based on: 10-Q (reporting date: 2025-05-04), 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).
1 Q1 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends in liquidity metrics over the observed period.
- Total Quick Assets
- The value of total quick assets experienced significant fluctuations. Beginning at 4,199 million USD in May 2019, they generally increased sharply around May to November 2020, peaking at 17,318 million USD in November 2020. Following this peak, the quick assets declined, reaching lower levels around 4,984 to 6,800 million USD from late 2021 through 2023. Minor recoveries were observed near mid-2024, but values remained below the earlier peak, indicating variability in liquid asset holdings.
- Current Liabilities
- Current liabilities showed an overall upward trend, starting at 19,673 million USD in May 2019 and increasing to over 31,589 million USD by May 2025. While there were periodic decreases, such as from late 2021 to early 2023, the liabilities generally rose, indicating growing short-term obligations. The most significant increases corresponded with certain peaks and troughs in quick assets, suggesting active management of working capital and financial obligations.
- Quick Ratio
- The quick ratio fluctuated within a relatively low range throughout the period, indicating limited liquidity coverage for current liabilities by quick assets. The ratio increased notably from 0.21 in May 2019 to around 0.68-0.69 in late 2020, coinciding with the surge in quick assets. After this peak, the quick ratio declined steadily, often staying below 0.34 and even reaching lows of 0.18 in mid-2022. These levels suggest a persistent liquidity challenge, as the company maintained quick ratios substantially below 1.0, implying that quick assets consistently covered less than half of current liabilities.
Overall, the data highlights a period marked by significant liquidity swings, with a pronounced surge in quick assets during 2020 followed by a general decline towards the end of the observed timeframe. Despite increases in current liabilities, the quick ratio remained low, pointing to potential liquidity constraints or strategic use of short-term liabilities. The company appears to manage fluctuating liquid asset levels amidst evolving financial obligations, yet the persistently low quick ratio may warrant attention to liquidity risk management.
Cash Ratio
May 4, 2025 | Feb 2, 2025 | Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | Nov 3, 2019 | Aug 4, 2019 | May 5, 2019 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||||||
Total cash assets | |||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||
Cash ratio1 | |||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||
Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||||||
Amazon.com Inc. | |||||||||||||||||||||||||||||||||
Lowe’s Cos. Inc. | |||||||||||||||||||||||||||||||||
TJX Cos. Inc. |
Based on: 10-Q (reporting date: 2025-05-04), 10-K (reporting date: 2025-02-02), 10-Q (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05).
1 Q1 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total Cash Assets
- The total cash assets exhibit significant fluctuations over the analyzed periods. Initially, cash assets rose from 1,882 million USD in May 2019 to a peak of 14,652 million USD in November 2020. This sharp increase coincides with the onset of the COVID-19 pandemic, suggesting a possible strategic accumulation of liquidity. Subsequently, cash levels experienced a marked decline, dropping to 1,259 million USD by July 2022. Thereafter, values oscillate with less pronounced volatility, maintaining a range roughly between 1,200 and 4,200 million USD, with no clear upward or downward long-term trend towards the end of the period.
- Current Liabilities
- Current liabilities show an overall upward trend, starting at 19,673 million USD in May 2019 and increasing to reach 31,589 million USD by May 2025. There are fluctuations within this trajectory; for instance, liabilities decreased slightly after mid-2020 but resumed growth from 2021 onward. The liabilities exhibit a steady increase particularly from early 2023 to the end of the data series, reflecting potentially greater short-term obligations or operational scale expansion.
- Cash Ratio
- The cash ratio demonstrates considerable variability throughout the period. Early values range between 0.10 to 0.14, rising sharply to peaks of approximately 0.58 in mid-to-late 2020, correlating with the surge in cash assets. This indicates an enhanced ability to cover current liabilities with available cash during that timeframe. From 2021 onward, the cash ratio declines precipitously, reaching low points around 0.04 to 0.06 by early 2025. This decline suggests a relatively reduced liquidity cushion to cover short-term liabilities despite increasing current liabilities, indicating potential liquidity risk or changing working capital management.
- Overall Liquidity and Financial Position Insights
- The data reveals that during the early pandemic months, there was a strategic buildup of cash holdings, bolstering the liquidity position as evidenced by both total cash assets and cash ratio peaks. However, this liquidity position was not sustained long-term, with cash levels and cash ratio both declining significantly after 2020. Concurrently, current liabilities steadily increased over the full period, intensifying liquidity pressures. The decoupling between rising current liabilities and declining cash ratio towards the later periods highlights a potential weakening in the ability to meet short-term obligations purely with cash, which may warrant closer attention from management and stakeholders regarding working capital policies and short-term funding strategies.