Axon Enterprise Inc. (AXON)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 598,545 | 353,684 | 356,332 | 155,440 | 172,250 |
| Short-term investments | US$ in thousands | 644,054 | 581,769 | 14,510 | 406,525 | 178,534 |
| Receivables | US$ in thousands | 422,490 | 367,090 | 334,719 | 247,801 | 166,578 |
| Total current liabilities | US$ in thousands | 799,969 | 602,646 | 418,521 | 256,331 | 195,566 |
| Quick ratio | 2.08 | 2.16 | 1.69 | 3.16 | 2.65 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($598,545K
+ $644,054K
+ $422,490K)
÷ $799,969K
= 2.08
The quick ratio of Axon Enterprise Inc has exhibited some fluctuations over the past five years. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.
In 2023 and 2022, the quick ratio remained stable at 2.66, indicating that the company had $2.66 in liquid assets available to cover each dollar of current liabilities. This suggests a strong liquidity position during these years.
In 2021, the quick ratio decreased slightly to 2.39, which may signal a slight weakening in the company's ability to cover short-term obligations with liquid assets compared to the previous years.
However, in 2020 and 2019, the quick ratio was notably higher at 3.48 and 2.97, respectively. This indicates a stronger ability to cover short-term liabilities with liquid assets during those years.
Overall, while the quick ratio of Axon Enterprise Inc has shown some variability over the five-year period, the company generally maintained a healthy liquidity position with sufficient liquid assets to meet its short-term obligations.
Peer comparison
Dec 31, 2023