Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Johnson & Johnson, liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-K (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 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: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03).
The liquidity profile exhibits a general downward shift from the initial observation period in early 2022, characterized by a significant contraction in late 2022 followed by a period of relative stabilization at lower levels.
- Current Ratio
- The current ratio began at a peak of 1.43 in October 2022 before experiencing a sharp decline to 0.99 by December 31, 2022. Subsequently, the ratio recovered to 1.21 in October 2023 and has since fluctuated primarily between 1.01 and 1.17, concluding at 1.09 in June 2026. This suggests that while the capacity to cover short-term obligations remains intact, the margin of safety has narrowed compared to the 2022 peak.
- Quick Ratio
- A similar pattern is observed in the quick ratio, which decreased from a range of 1.06 to 1.10 in early 2022 to 0.71 by the end of that year. Although a moderate recovery occurred through late 2023, the ratio consistently remained below 1.0 for the remainder of the period, reaching a low of 0.68 in June 2025 before ending at 0.73. This trend indicates an increased reliance on inventory to meet current liabilities, as the ratio excluding inventory has failed to return to its previous levels.
- Cash Ratio
- The cash ratio demonstrates the most pronounced decline in immediate liquidity. After starting at 0.75 in October 2022, it fell to 0.42 by December 31, 2022. Despite a temporary spike to 0.68 in March 2025, the ratio retreated to a stable range between 0.35 and 0.38 throughout late 2025 and early 2026. This reflects a reduction in the proportion of cash and cash equivalents available for immediate debt settlement.
Overall, the data reflects a structural transition in liquidity management. The simultaneous dip across all three ratios in December 2022 suggests a systemic event or a strategic shift in capital allocation. While the current ratio remains nominally sufficient, the persistent decline in the quick and cash ratios points to a more constrained immediate liquidity position over the observed timeframe.
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Current Ratio
Johnson & Johnson, current ratio calculation (quarterly data)
| Jun 28, 2026 | Mar 29, 2026 | Dec 28, 2025 | Sep 28, 2025 | Jun 29, 2025 | Mar 30, 2025 | Dec 29, 2024 | Sep 29, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Oct 1, 2023 | Jul 2, 2023 | Apr 2, 2023 | Dec 31, 2022 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Current assets | 59,774) | 59,173) | 55,624) | 54,611) | 54,498) | 71,551) | 55,893) | 53,249) | 57,817) | 57,002) | 53,495) | 53,703) | 60,567) | 64,388) | 55,294) | 65,236) | 63,847) | 60,424) | ||||||
| Current liabilities | 54,895) | 57,716) | 54,126) | 50,869) | 54,180) | 56,903) | 50,321) | 51,759) | 53,933) | 48,725) | 46,282) | 44,370) | 54,170) | 60,373) | 55,802) | 45,543) | 44,821) | 43,390) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Current ratio1 | 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 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||
| AbbVie Inc. | — | 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. | — | 1.42 | 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 | ||||||
| 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. | — | 1.25 | 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. | — | 3.57 | 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. | — | 1.53 | 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. | — | 3.02 | 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: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-K (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 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: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03).
1 Q2 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= 59,774 ÷ 54,895 = 1.09
2 Click competitor name to see calculations.
The liquidity profile of the organization exhibits a pattern of fluctuation over the analyzed period, characterized by an initial high liquidity position followed by a period of stabilization near the unity threshold.
- Current Ratio Volatility
- A significant decline in the current ratio is observed between October 2022 (1.43) and December 2022 (0.99). This drop represents the only instance in the analyzed period where current liabilities exceeded current assets, indicating a temporary contraction in short-term solvency.
- Recovery and Stabilization Trends
- Following the year-end 2022 low, the current ratio recovered to 1.07 by April 2023 and generally maintained a range between 1.01 and 1.21 through 2024. This suggests a strategic realignment of short-term assets and obligations to maintain a consistent liquidity buffer.
- Asset-Driven Liquidity Spikes
- A notable increase in the current ratio to 1.26 occurred in March 2025, coinciding with a peak in current assets of 71,551 million US dollars. This spike was transient, as the ratio returned to 1.01 by June 2025, reflecting a rapid deployment or reduction of short-term assets.
- Working Capital Management
- From June 2025 through June 2026, the current ratio stabilized between 1.03 and 1.09. The consistency of these figures indicates a disciplined approach to managing working capital, ensuring that short-term obligations are met without maintaining excessive idle liquidity.
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Quick Ratio
Johnson & Johnson, quick ratio calculation (quarterly data)
| Jun 28, 2026 | Mar 29, 2026 | Dec 28, 2025 | Sep 28, 2025 | Jun 29, 2025 | Mar 30, 2025 | Dec 29, 2024 | Sep 29, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Oct 1, 2023 | Jul 2, 2023 | Apr 2, 2023 | Dec 31, 2022 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Cash and cash equivalents | 20,422) | 21,688) | 19,709) | 18,231) | 18,577) | 38,474) | 24,105) | 19,980) | 24,878) | 25,473) | 21,859) | 19,728) | 21,183) | 19,170) | 14,127) | 11,355) | 10,983) | 10,463) | ||||||
| Restricted cash | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | 7,695) | —) | —) | —) | —) | ||||||
| Marketable securities | 336) | 363) | 393) | 331) | 303) | 307) | 417) | 317) | 597) | 745) | 1,068) | 3,783) | 7,322) | 5,443) | 9,392) | 22,724) | 21,585) | 19,925) | ||||||
| Accounts receivable, trade, less allowances | 19,046) | 17,721) | 17,178) | 17,611) | 17,846) | 16,020) | 14,842) | 16,174) | 15,794) | 14,946) | 14,873) | 14,798) | 16,777) | 16,350) | 16,160) | 15,890) | 16,139) | 15,594) | ||||||
| Total quick assets | 39,804) | 39,772) | 37,280) | 36,173) | 36,726) | 54,801) | 39,364) | 36,471) | 41,269) | 41,164) | 37,800) | 38,309) | 45,282) | 48,658) | 39,679) | 49,969) | 48,707) | 45,982) | ||||||
| Current liabilities | 54,895) | 57,716) | 54,126) | 50,869) | 54,180) | 56,903) | 50,321) | 51,759) | 53,933) | 48,725) | 46,282) | 44,370) | 54,170) | 60,373) | 55,802) | 45,543) | 44,821) | 43,390) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Quick ratio1 | 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 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||
| AbbVie Inc. | — | 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. | — | 1.04 | 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 | ||||||
| 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. | — | 0.75 | 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. | — | 2.84 | 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. | — | 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. | — | 2.38 | 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: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-K (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 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: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03).
1 Q2 2026 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 39,804 ÷ 54,895 = 0.73
2 Click competitor name to see calculations.
The overall liquidity profile exhibits a downward shift from a position of strength in early 2022 to a more constrained liquidity posture through mid-2026. While the period began with quick assets exceeding current liabilities, subsequent quarters indicate a consistent trend where liquid assets are insufficient to cover short-term obligations without the liquidation of inventory.
- Total Quick Assets
- Asset levels demonstrated significant volatility, reaching a peak of 54,801 million US$ in December 2024. However, a general contraction is observable between 2023 and 2025, with values frequently fluctuating within the 36,000 to 41,000 million US$ range, indicating inconsistent levels of immediate liquidity.
- Current Liabilities
- Short-term obligations increased from 43,390 million US$ in April 2022 to a peak of 60,373 million US$ in April 2023. The sustained elevation of liabilities, which remained largely above 50,000 million US$ from June 2024 onward, acted as a primary driver in the compression of the liquidity ratio.
- Quick Ratio Trends
- A distinct transition occurred from a peak ratio of 1.10 in October 2022 to a low of 0.68 in June 2025. A sharp correction was noted in December 2022, where the ratio fell to 0.71, marking the end of the period where liquid assets exceeded current liabilities. Although a temporary recovery to 0.96 occurred in December 2024, the ratio remained below the 1.0 threshold for the vast majority of the analyzed period, eventually stabilizing at 0.73 by June 2026.
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Cash Ratio
Johnson & Johnson, cash ratio calculation (quarterly data)
| Jun 28, 2026 | Mar 29, 2026 | Dec 28, 2025 | Sep 28, 2025 | Jun 29, 2025 | Mar 30, 2025 | Dec 29, 2024 | Sep 29, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Oct 1, 2023 | Jul 2, 2023 | Apr 2, 2023 | Dec 31, 2022 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Cash and cash equivalents | 20,422) | 21,688) | 19,709) | 18,231) | 18,577) | 38,474) | 24,105) | 19,980) | 24,878) | 25,473) | 21,859) | 19,728) | 21,183) | 19,170) | 14,127) | 11,355) | 10,983) | 10,463) | ||||||
| Restricted cash | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | 7,695) | —) | —) | —) | —) | ||||||
| Marketable securities | 336) | 363) | 393) | 331) | 303) | 307) | 417) | 317) | 597) | 745) | 1,068) | 3,783) | 7,322) | 5,443) | 9,392) | 22,724) | 21,585) | 19,925) | ||||||
| Total cash assets | 20,758) | 22,051) | 20,102) | 18,562) | 18,880) | 38,781) | 24,522) | 20,297) | 25,475) | 26,218) | 22,927) | 23,511) | 28,505) | 32,308) | 23,519) | 34,079) | 32,568) | 30,388) | ||||||
| Current liabilities | 54,895) | 57,716) | 54,126) | 50,869) | 54,180) | 56,903) | 50,321) | 51,759) | 53,933) | 48,725) | 46,282) | 44,370) | 54,170) | 60,373) | 55,802) | 45,543) | 44,821) | 43,390) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||
| Cash ratio1 | 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 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||
| AbbVie Inc. | — | 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. | — | 0.55 | 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 | ||||||
| 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. | — | 0.38 | 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. | — | 1.71 | 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. | — | 0.22 | 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. | — | 1.87 | 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: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-K (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 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: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03).
1 Q2 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 20,758 ÷ 54,895 = 0.38
2 Click competitor name to see calculations.
The cash ratio exhibits a general downward trajectory over the analyzed period, indicating a reduction in the company's ability to cover immediate liabilities using only its most liquid assets. The ratio began at 0.70 in April 2022, peaked at 0.75 in October 2022, and eventually stabilized at 0.38 by June 2026.
- Liquidity Volatility and Trend Shifts
- A significant contraction in liquidity occurred between October 2022 and December 2022, where the cash ratio dropped from 0.75 to 0.42. While a partial recovery was observed in early 2023, maintaining levels between 0.50 and 0.54, a subsequent decline began in March 2024, reaching a low of 0.39 by September 2024. A temporary spike to 0.68 occurred in December 2024, driven by a substantial increase in total cash assets, before the ratio fell again and remained consistently below 0.40 through June 2026.
- Cash Asset Fluctuations
- Total cash assets demonstrated high volatility, characterized by sharp peaks and troughs. Assets reached a high of 38,781 million USD in December 2024, contrasting sharply with lows of approximately 18,562 million USD in July 2025. These fluctuations suggest a dynamic cash management strategy or the impact of significant one-time financial events rather than a steady accumulation of liquidity.
- Impact of Current Liabilities
- Current liabilities showed a general increase from 43,390 million USD in April 2022 to a peak of 60,373 million USD in April 2023. Although liabilities fluctuated between 44,000 million USD and 57,000 million USD in the following years, the overall increase in the liability base, coupled with the reduction in average cash holdings, contributed to the long-term compression of the cash ratio.
- Long-term Stability Assessment
- From June 2025 through June 2026, the cash ratio entered a period of relative stability, fluctuating minimally between 0.35 and 0.38. This suggests a new baseline for liquidity management where the company maintains a lower proportion of cash relative to its short-term obligations compared to the 2022 period.
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