Azenta Inc (AZTA)
Cash 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 and cash equivalents | US$ in thousands | 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 | 256,642 | 156,802 | 137,168 |
| Short-term investments | US$ in thousands | 281,212 | 338,873 | 390,492 | 513,651 | 522,897 | 911,764 | 709,063 | 816,512 | 51 | 81 | 101 | 101 | 55 | 67 | 136 | 162 | 11,233 | 34,124 | 35 | 47 |
| Total current liabilities | US$ in thousands | 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 | 272,270 | 174,992 | 178,330 |
| Cash ratio | 4.18 | 4.83 | 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 | 1.07 | 0.90 | 0.77 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($702,923K
+ $281,212K)
÷ $235,620K
= 4.18
The cash ratio of Azenta Inc has exhibited some fluctuations over the past eight quarters. The cash ratio measures a company's ability to cover its short-term liabilities using its cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations.
In Q1 2024, Azenta Inc had a cash ratio of 4.65, which was lower compared to the previous quarter at 5.36 in Q4 2023. However, the ratio remained relatively stable above 5 in the past few quarters, indicating a healthy liquidity position.
The highest cash ratio was observed in Q3 2022 at 12.02, suggesting a substantial cash reserve relative to short-term liabilities. On the other hand, the lowest cash ratio in the provided data was 4.58 in Q2 2022, highlighting a potential liquidity challenge during that period.
Overall, Azenta Inc's cash ratio indicates a relatively strong ability to cover short-term obligations with its available cash and cash equivalents. However, it is essential for the company to monitor and manage its liquidity position effectively to ensure financial stability and meet operational needs.
Peer comparison
Dec 31, 2023