AeroVironment Inc (AVAV)
Cash ratio
| Apr 30, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 30, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | Apr 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | Apr 30, 2020 | Jul 27, 2019 | Apr 30, 2019 | Oct 27, 2018 | Jul 28, 2018 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 73,301 | 107,694 | 100,908 | 105,871 | 132,859 | 78,276 | 101,417 | 93,183 | 77,231 | 82,528 | 104,770 | 93,924 | 148,741 | 280,099 | 246,839 | 255,142 | 137,094 | 172,708 | 151,255 | 170,788 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 24,716 | 24,716 | 12,655 | 24,716 | 3,969 | 6,311 | 17,953 | 31,971 | 67,137 | 71,334 | 47,507 | 163,634 | 150,487 | 138,536 | 118,303 |
| Total current liabilities | US$ in thousands | 144,879 | 107,531 | 109,304 | 107,189 | 121,334 | 116,397 | 103,854 | 95,876 | 101,391 | 87,483 | 101,429 | 82,660 | 96,185 | 53,478 | 46,323 | 66,953 | 43,108 | 44,866 | 39,491 | 40,752 |
| Cash ratio | 0.51 | 1.00 | 0.92 | 0.99 | 1.09 | 0.88 | 1.21 | 1.10 | 1.01 | 0.99 | 1.10 | 1.35 | 1.88 | 6.49 | 6.87 | 4.52 | 6.98 | 7.20 | 7.34 | 7.09 |
April 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($73,301K
+ $—K)
÷ $144,879K
= 0.51
The cash ratio of AeroVironment Inc has shown some fluctuations over the periods provided. The cash ratio measures the ability of a company to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to cover short-term obligations.
Looking at the data, we can see that the cash ratio has generally been above 1 in recent periods, indicating that AeroVironment Inc has had sufficient cash on hand to cover its short-term liabilities. The ratios ranging between 0.88 and 1.35 in the period from Oct 30, 2021, to Jul 31, 2023, suggest a consistent but somewhat fluctuating position in terms of liquidity during that time.
However, there was a significant increase in the cash ratio in the periods from Apr 30, 2021, to Jan 27, 2023, where the ratios were notably higher, ranging from 1.88 to 6.87. This could indicate that AeroVironment Inc had accumulated a significant amount of cash relative to its short-term liabilities during these periods.
It is essential to note that the cash ratio significantly increased from 4.52 in Apr 30, 2020, to 6.49 in Oct 31, 2020, and continued to rise in subsequent periods, indicating a strong liquidity position during the early stages of the COVID-19 pandemic through to mid-2021.
Overall, the cash ratio analysis suggests that AeroVironment Inc has generally maintained a healthy liquidity position, with periods of stronger cash holdings relative to short-term obligations, although some fluctuations have been observed over the period provided.
Peer comparison
Apr 30, 2024