Azenta Inc (AZTA)
Cash ratio
| Sep 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 310,929 | 336,543 | 353,491 | 702,923 | 678,910 | 733,369 | 667,365 | 608,304 | 658,274 | 1,474,190 | 1,936,290 | 215,168 | 227,427 | 269,862 | 320,105 | 263,517 | 250,649 | 256,633 | 242,274 | 335,319 |
| Short-term investments | US$ in thousands | 210,677 | 417,702 | 468,220 | 281,212 | 455,346 | 390,492 | 513,651 | 522,897 | 911,764 | 709,063 | 816,512 | 51 | 81 | 101 | 101 | 55 | 67 | 136 | 162 | 11,233 |
| Total current liabilities | US$ in thousands | 204,839 | 202,574 | 202,999 | 235,620 | 210,928 | 203,627 | 212,644 | 249,026 | 230,546 | 194,927 | 617,963 | 341,800 | 345,088 | 311,060 | 265,646 | 225,770 | 211,118 | 205,805 | 197,035 | 282,952 |
| Cash ratio | 2.55 | 3.72 | 4.05 | 4.18 | 5.38 | 5.52 | 5.55 | 4.54 | 6.81 | 11.20 | 4.45 | 0.63 | 0.66 | 0.87 | 1.21 | 1.17 | 1.19 | 1.25 | 1.23 | 1.22 |
September 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($310,929K
+ $210,677K)
÷ $204,839K
= 2.55
The cash ratio of Azenta Inc has exhibited fluctuations over the analyzed periods. The ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents.
The cash ratio has shown an increasing trend from December 2019 to September 2022, indicating improved liquidity and the company's ability to meet its short-term obligations using its available cash resources.
However, the cash ratio experienced a significant spike in June 2022, reaching its peak at 11.20, which may suggest a temporary increase in available cash or a decrease in short-term liabilities during that period.
Subsequently, from September 2022 to March 2024, the cash ratio gradually decreased, indicating a potential decrease in liquidity compared to the previous periods. The ratio remained above 4 during this period, suggesting that Azenta Inc still had a relatively strong ability to cover its short-term liabilities with cash.
Overall, the cash ratio of Azenta Inc demonstrates fluctuations, but generally indicates that the company has maintained a solid liquidity position throughout the analyzed periods, with varying levels of cash reserves relative to its short-term obligations. It is essential for the company to monitor its cash ratio regularly to ensure it maintains sufficient liquidity to meet its financial commitments.
Peer comparison
Sep 30, 2024