Avnet Inc (AVT)
Cash ratio
| 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 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 310,941 | 218,473 | 272,850 | 278,679 | 288,230 | 185,937 | 324,778 | 80,881 | 153,693 | 199,457 | 167,818 | 299,101 | 199,691 | 322,749 | 376,333 | 483,056 | 477,038 | 402,655 | 488,810 | 664,108 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 4,465,270 | 4,492,670 | 4,765,560 | 4,290,380 | 4,249,380 | 3,969,750 | 4,057,660 | 4,659,190 | 4,251,650 | 4,065,790 | 3,688,500 | 3,113,340 | 3,055,240 | 2,885,940 | 2,826,320 | 2,766,410 | 2,280,370 | 2,607,790 | 2,745,250 | 3,137,300 |
| Cash ratio | 0.07 | 0.05 | 0.06 | 0.06 | 0.07 | 0.05 | 0.08 | 0.02 | 0.04 | 0.05 | 0.05 | 0.10 | 0.07 | 0.11 | 0.13 | 0.17 | 0.21 | 0.15 | 0.18 | 0.21 |
June 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($310,941K
+ $—K)
÷ $4,465,270K
= 0.07
The cash ratio of Avnet Inc has fluctuated over the past two years, with values ranging from 0.02 to 0.21. The cash ratio measures the company's ability to cover its short-term liabilities with cash and cash equivalents. A higher cash ratio indicates a stronger ability to cover short-term obligations without relying on external financing.
In the most recent period, the cash ratio was 0.07, suggesting that Avnet Inc had sufficient cash on hand to cover 7% of its current liabilities. This indicates a moderate level of liquidity, which could be seen as positive. However, it's important to note that the cash ratio is just one indicator of a company's financial health and should be analyzed in conjunction with other financial ratios and metrics.
Looking at the trend over the past quarters, the cash ratio has been relatively stable, hovering between 0.04 and 0.10. This consistency may reflect the company's cautious approach to managing its cash position. Overall, while the cash ratio provides insight into Avnet Inc's liquidity position, it should be evaluated in the context of the company's overall financial performance and industry benchmarks.
Peer comparison
Jun 30, 2024