Azenta Inc (AZTA)
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 | 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 |
| Receivables | US$ in thousands | 155,926 | 156,535 | 163,019 | 167,960 | 201,920 | 163,758 | 150,274 | 137,578 | 126,001 | 119,900 | 234,100 | 225,389 | 196,679 | 188,291 | 183,200 | 179,014 | 165,176 | 165,602 | 163,105 | 163,653 |
| 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 |
| Quick ratio | 4.84 | 5.57 | 6.32 | 6.34 | 5.35 | 7.52 | 11.97 | 4.68 | 1.00 | 1.01 | 1.62 | 2.05 | 2.04 | 2.08 | 2.14 | 2.14 | 1.81 | 1.68 | 1.83 | 1.69 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($702,923K
+ $281,212K
+ $155,926K)
÷ $235,620K
= 4.84
The quick ratio of Azenta Inc has shown fluctuation over the past eight quarters, ranging from a low of 4.80 in Q2 2022 to a high of 12.79 in Q3 2022. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory. A higher quick ratio typically indicates stronger liquidity and a lower risk of financial distress.
The quick ratio has generally been above 5 in recent quarters, indicating that Azenta Inc has a comfortable level of liquid assets to cover its short-term liabilities. The ratio peaked in Q3 2022 at 12.79, which may suggest a temporarily high level of liquidity that potentially could be put to more productive use in the business.
Overall, the trend in the quick ratio for Azenta Inc shows that the company has maintained a strong liquidity position over the past eight quarters. Monitoring this ratio going forward will be important to assess the company's ability to meet its short-term financial obligations and manage liquidity effectively.
Peer comparison
Dec 31, 2023