Azenta Inc (AZTA)
Cash ratio
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 678,910 | 658,274 | 227,427 | 250,649 | 256,642 |
| Short-term investments | US$ in thousands | 338,873 | 911,764 | 81 | 67 | 34,124 |
| Total current liabilities | US$ in thousands | 210,928 | 230,546 | 345,088 | 211,118 | 272,270 |
| Cash ratio | 4.83 | 6.81 | 0.66 | 1.19 | 1.07 |
September 30, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($678,910K
+ $338,873K)
÷ $210,928K
= 4.83
The cash ratio of Azenta Inc has exhibited fluctuating trends over the past five years. The ratio indicates the company's ability to cover its short-term liabilities using its cash and cash equivalents. In 2023, the cash ratio decreased to 5.36 from 7.93 in 2022, signaling a potential reduction in the company's immediate liquidity position. However, compared to the significantly lower ratios in 2021 and 2020, the current ratio still reflects a relatively healthy level of cash liquidity. The highest ratio was observed in 2022, suggesting a peak in the company's ability to meet short-term obligations with cash on hand. Overall, while the 2023 ratio decreased from the previous year, it remains at a reasonable level, indicating the company's ability to cover short-term liabilities with its cash holdings.
Peer comparison
Sep 30, 2023