Axon Enterprise Inc. (AXON)
Quick ratio
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 | Jun 30, 2019 | Mar 31, 2019 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash | US$ in thousands | 598,545 | 406,042 | 474,203 | 263,414 | 353,684 | 147,711 | 212,815 | 386,367 | 356,332 | 281,691 | 266,372 | 154,822 | 155,440 | 176,000 | 319,253 | 156,540 | 172,250 | 202,551 | 219,720 | 223,642 |
Short-term investments | US$ in thousands | 644,054 | 715,688 | 594,942 | 775,129 | 581,769 | 194,627 | 118,514 | 20,024 | 14,510 | 216,557 | 388,895 | 440,842 | 406,525 | 330,914 | 237,980 | 188,673 | 178,534 | 108,913 | 116,629 | 105,312 |
Receivables | US$ in thousands | 422,490 | 442,830 | 372,060 | 379,887 | 367,090 | 418,308 | 379,672 | 344,907 | 334,719 | 265,267 | 201,907 | 185,373 | 247,801 | 172,803 | 154,253 | 147,945 | 166,578 | 149,013 | 134,630 | 149,096 |
Total current liabilities | US$ in thousands | 799,969 | 717,827 | 625,239 | 616,127 | 602,646 | 431,523 | 432,971 | 470,679 | 418,521 | 379,890 | 272,871 | 239,775 | 256,331 | 258,555 | 242,830 | 195,015 | 195,566 | 183,834 | 163,673 | 163,794 |
Quick ratio | 2.08 | 2.18 | 2.31 | 2.30 | 2.16 | 1.76 | 1.64 | 1.60 | 1.69 | 2.01 | 3.14 | 3.26 | 3.16 | 2.63 | 2.93 | 2.53 | 2.65 | 2.50 | 2.88 | 2.92 |
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 shown a generally stable trend over the past eight quarters, ranging from 2.18 to 2.98. This indicates that the company has consistently maintained a strong ability to cover its short-term liabilities with its most liquid assets.
The increase in the quick ratio from Q1 2022 to Q2 2023 suggests an improved liquidity position, with the ratio peaking at 2.98 in Q2 2023. This uptrend reflects the company's ability to meet its current obligations using its quickly convertible assets.
Overall, the quick ratio values above 1.0 throughout the period indicate that Axon Enterprise Inc has more than enough liquid assets to cover its short-term liabilities, providing a reassuring level of financial health and stability in meeting its immediate payment obligations.
Peer comparison
Dec 31, 2023