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: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
- Current Ratio
- The current ratio exhibits an overall upward trend starting from 0.96 in April 2019, increasing steadily to a peak of 1.33 in April 2021. Following this peak, the ratio experiences some volatility but generally maintains levels slightly above 1.00, fluctuating between approximately 1.02 and 1.11 through April 2025. This suggests an improvement in short-term liquidity over the period, with the company generally maintaining sufficient current assets to cover current liabilities, although the ratio shows stabilizing trends with moderate fluctuations in the more recent quarters.
- Quick Ratio
- The quick ratio shows a similar pattern to the current ratio but with generally lower values, indicating less reliance on inventory for liquidity. It increases from 0.81 in April 2019 to a high of 1.19 in April 2021. After this peak, it declines sharply to around 0.79 in July 2021, then fluctuates between 0.86 and 0.96 for most of the subsequent quarters until April 2025. These changes suggest that while the company improved its ability to meet immediate obligations without relying on inventory up to early 2021, there has been some reduction in liquidity buffer in later periods, with values remaining below the previous peak.
- Cash Ratio
- The cash ratio shows greater volatility throughout the period. Starting at 0.61 in April 2019, it fluctuates with no clear upward or downward trend but a noticeable peak at 0.98 in April 2021. This peak coincides with high values observed in the other liquidity ratios. Subsequently, the ratio decreases and oscillates between 0.48 and 0.76, with notable dips below 0.53 and peaks not surpassing the April 2021 level. This pattern indicates that cash and cash equivalents relative to current liabilities have varied considerably, reflecting possible changes in cash management or timing of cash inflows and outflows over the analyzed quarters.
Current Ratio
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 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||
Current ratio1 | |||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||
Current Ratio, Competitors2 | |||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||
Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||
Oracle Corp. | |||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||
Synopsys Inc. | |||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
1 Q1 2026 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several key trends and observations regarding current assets, current liabilities, and the current ratio over the examined periods.
- Current Assets
- Current assets demonstrate a generally upward trajectory with some fluctuations. Starting at 10,035 million US dollars in April 2019, current assets increased significantly to a peak of 29,074 million US dollars by January 2024. Notable surges appear between January 2020 and January 2021, and again from January 2023 to January 2024, indicating periods of substantial asset accumulation. However, intermittent decreases are observed, such as the decline from April 2021 (20,444 million) to October 2021 (15,957 million), and similarly from July 2023 (21,138 million) to October 2023 (20,202 million). Despite these dips, the overall pattern is upward, signaling growth in liquidity or short-term resource availability over the time frame.
- Current Liabilities
- Current liabilities show a similar pattern of growth with volatility. Beginning at 10,488 million US dollars in April 2019, liabilities rose to reach 27,980 million by January 2025. Sharp increases occurred notably between January 2020 and January 2021 and again near the end of the series (from 19,375 million in October 2024 to 27,980 million in January 2025). Several decreases in current liabilities are interspersed, such as between October 2021 and April 2022 and more recently between July 2024 and October 2024. The upward trend in liabilities suggests an increased short-term obligation load that corresponds broadly with the asset growth, implying parallel expansion in operational scale or financing needs.
- Current Ratio
- The current ratio fluctuates modestly across the reported quarters, predominantly staying near or above 1.0, indicating a balanced ability to cover short-term liabilities with short-term assets. Beginning at a slightly below-one ratio of 0.96 in April 2019, it edges up to around 1.15-1.23 during the 2020 fiscal year, suggesting an improvement in liquidity during this period. From mid-2021 to mid-2022, the ratio varies roughly between 1.02 and 1.06, displaying a consistent but lower liquidity margin than in 2020. In recent periods through 2024 and early 2025, the ratio remains close to 1.1, indicating adequate but not excessive short-term financial strength. Momentary dips in the current ratio align with periods where current liabilities rose relatively faster than current assets, reflecting increased short-term financial obligations impacting liquidity metrics.
In summary, the data indicates sustained growth in both current assets and liabilities, with a consistent current ratio that suggests the company maintains a stable short-term financial position throughout the period. Periodic fluctuations in assets and liabilities reflect operational and financial dynamics, but the company generally preserves a liquidity ratio slightly above or near one, which is typically considered acceptable for meeting current obligations.
Quick Ratio
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 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | |||||||||
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Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||||||
Marketable securities | |||||||||||||||||||||||||||||||||
Accounts receivable, net | |||||||||||||||||||||||||||||||||
Total quick assets | |||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||
Quick ratio1 | |||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||
Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||
Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||
Oracle Corp. | |||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||
Synopsys Inc. | |||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
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 key trends concerning liquidity positions over the period assessed.
- Total Quick Assets
- Total quick assets demonstrate considerable fluctuations across the quarters. Initially, there is a moderate range between approximately 8,500 million and 14,100 million US dollars until early 2020, after which there is a noticeable increase coinciding with the onset of 2021, reaching values as high as around 25,600 million US dollars by early 2024. This trend is characterized by intermittent spikes, suggesting periods of elevated liquidity resources, followed by declines but maintaining generally higher levels in later periods compared to earlier ones.
- Current Liabilities
- Current liabilities also show a parallel pattern of volatility but generally trend upwards through the timeline. Starting at a base near 10,500 million US dollars, the figures peak repeatedly above 25,000 million US dollars from 2023 onwards. The rising current liabilities indicate increasing short-term financial obligations, reflecting possibly greater operational scale or changes in working capital management over time.
- Quick Ratio
- The quick ratio shows significant variability with periodic decreases and recoveries. Early in the data, ratios range around 0.8 to 1.0, with peaks reaching slightly above 1.0 around early 2021, suggesting moments when quick assets exceeded current liabilities. However, subsequent quarters display a general decline back to the mid-0.8 range, indicating tightening liquidity positions in the company. Notably, while there is some recovery evident near early 2024 with ratios approaching 0.95, the quick ratio remains below the 1.0 benchmark in most recent periods, signifying that quick assets were generally insufficient to cover current liabilities without relying on inventory or other less liquid assets.
In summary, the company exhibits increasing absolute levels of both quick assets and current liabilities over the examined years, consistent with growth or expansion dynamics. However, the liquidity ratios reveal cautious liquidity management as the quick ratio mostly remains below or near 1.0, underscoring potential constraints in short-term financial flexibility despite higher nominal asset levels.
Cash Ratio
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 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||||||
Marketable securities | |||||||||||||||||||||||||||||||||
Total cash assets | |||||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||||
Cash ratio1 | |||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||
Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||
Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||
Oracle Corp. | |||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||
Synopsys Inc. | |||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
1 Q1 2026 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
The data reveals several key financial trends concerning liquidity and short-term obligations over the examined periods. The analysis focuses on total cash assets, current liabilities, and the cash ratio, illustrating changes in the company's ability to cover short-term liabilities using its most liquid assets.
- Total Cash Assets
-
Total cash assets demonstrated considerable fluctuations over the observed periods, starting at $6,379 million and reaching peaks above $17,000 million at various points. Notably, there was a significant increase from January 2020 ($7,947 million) to April 2021 ($15,023 million), suggesting improved cash holdings during that interval. This was followed by a decline and subsequent moderate recoveries, indicating variability in cash management or operational cash flow across quarters.
- Current Liabilities
-
Current liabilities displayed a general upward trend with significant volatility. Starting at $10,488 million, liabilities spiked sharply in early 2020 to $14,845 million and continued to fluctuate at elevated levels thereafter. Peaks occurred in January 2022 ($21,788 million) and January 2024 ($27,980 million), pointing to increased short-term financial obligations. Despite intermittent decreases, the overall pattern indicates heightened short-term debt or payables relative to earlier periods.
- Cash Ratio
-
The cash ratio, measuring the ability to cover current liabilities with cash assets, oscillated substantially. Initially near 0.6, the ratio dropped to a low of 0.48 in January 2022 and January 2023, indicating reduced liquidity cushion during those quarters. Conversely, peaks of approximately 0.98 in April 2021 and 0.76 at various points suggest intermittent stronger liquidity positions. Overall, the cash ratio remained below 1, signifying that cash assets alone were generally insufficient to cover current liabilities fully.
- Insights and Patterns
-
The contrasting trends of rising current liabilities against fluctuating cash assets imply pressure on short-term liquidity management. Periods of increased cash holdings correspond to slight improvements in the cash ratio, although such improvements are not sustained consistently. The recurrent dips in the cash ratio below 0.5 at critical points suggest periods of potential liquidity stress, requiring other liquid assets or financing to meet obligations. The variability across quarters underscores the importance of ongoing monitoring of cash flow and liability management to maintain financial stability.