Alpha and Omega Semiconductor Ltd (AOSL)
Quick ratio
| 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 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 169,359 | 182,592 | 176,008 | 175,540 | 174,595 | 162,266 | 193,576 | 195,188 | 265,946 | 287,805 | 316,119 | 314,352 | 323,134 | 269,306 | 252,453 | 202,412 | 192,113 | 180,966 | 154,698 | 158,536 |
| Short-term investments | US$ in thousands | — | 355,088 | 214 | — | — | — | — | — | — | — | 100 | 100 | 100 | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 30,047 | 30,542 | 31,103 | 15,951 | 14,317 | 33,357 | 34,403 | 22,420 | 19,434 | 55,154 | 55,769 | 65,681 | 39,207 | 57,724 | 44,135 | 35,789 | 35,432 | 24,934 | 26,317 | 13,272 |
| Total current liabilities | US$ in thousands | 155,422 | 151,032 | 151,737 | 154,233 | 159,939 | 161,596 | 187,547 | 172,561 | 214,317 | 221,529 | 244,331 | 266,350 | 199,492 | 177,977 | 257,106 | 233,230 | 211,916 | 211,513 | 198,264 | 192,058 |
| Quick ratio | 1.28 | 3.76 | 1.37 | 1.24 | 1.18 | 1.21 | 1.22 | 1.26 | 1.33 | 1.55 | 1.52 | 1.43 | 1.82 | 1.84 | 1.15 | 1.02 | 1.07 | 0.97 | 0.91 | 0.89 |
March 31, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($169,359K
+ $—K
+ $30,047K)
÷ $155,422K
= 1.28
The analysis of Alpha and Omega Semiconductor Ltd's quick ratio over the specified period indicates a generally stable liquidity position with some noteworthy fluctuations. From June 30, 2020, when the quick ratio was 0.89, there was a consistent upward trend culminating in a peak of 3.76 on December 31, 2024. This substantial increase suggests an improving ability to meet short-term obligations with liquid assets, highlighting enhancements in liquid asset management or reductions in current liabilities relative to quick assets.
Between June 2020 and December 2021, the quick ratio showed steady growth, crossing the threshold of 1.0 by March 31, 2021, and reaching a high of 1.84 by the end of 2021. This indicates that the company maintained a comfortable liquidity buffer during this period, with quick assets exceeding current liabilities, reflecting prudent liquidity management.
Post-2021, the ratio experienced fluctuations within a range roughly between 1.18 and 1.55, suggesting moderate variability in liquidity levels. Notably, there was a significant spike to 3.76 at the end of December 2024, which may reflect a period of increased liquid assets, decreased current liabilities, or both. This high ratio could also imply a conservative liquidity stance, possibly due to strategic asset holdings or reduced short-term obligations.
Overall, the historical trend demonstrates an initial gradual improvement in liquidity position, peaking strongly in late 2024, followed by a slight decline to the 1.21–1.37 range in the subsequent quarters. Despite some short-term fluctuations, the company's quick ratio predominantly remained above 1.0, indicating a consistent capacity to cover immediate liabilities with liquid assets over most of the analyzed timeframe. The remarkable spike at the end of 2024 warrants further investigation for underlying causes, such as asset revaluation, liquidity infusions, or deleveraging strategies.
Peer comparison
Mar 31, 2025