Avnet Inc (AVT)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 4,391,190 | 4,315,060 | 4,508,740 | 4,679,690 | 4,763,790 | — | 4,789,400 | — | 4,301,000 | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Quick ratio | 1.05 | 1.01 | 1.00 | 1.16 | 1.19 | 0.05 | 1.26 | 0.02 | 1.05 | 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
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($310,941K
+ $—K
+ $4,391,190K)
÷ $4,465,270K
= 1.05
The quick ratio of Avnet Inc has shown significant fluctuations over the past few quarters. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets.
From Dec 31, 2019, to Mar 31, 2020, the quick ratio increased steadily, reaching a high of 0.21, indicating a strong ability to cover its short-term liabilities with liquid assets. However, there was a slight decrease in the following quarter, ending Sep 30, 2020.
The quick ratio experienced significant volatility in the following quarters, with fluctuations between 0.05 and 1.26. This erratic performance may be a concerning sign as it suggests potential instability in Avnet Inc's liquidity position.
The latest quick ratio of 1.05 as of Jun 30, 2024, indicates that the company could cover its current liabilities with its quick assets, providing a slightly stronger position compared to the previous quarters. However, it is essential to monitor future trends to ensure the company's short-term liquidity remains stable and sustainable.
Peer comparison
Jun 30, 2024