Azenta Inc (AZTA)
Quick 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 | 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 |
| Receivables | US$ in thousands | 172,700 | 167,613 | 154,668 | 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 |
| 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 |
| Quick ratio | 3.39 | 4.55 | 4.81 | 4.84 | 6.12 | 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 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($310,929K
+ $210,677K
+ $172,700K)
÷ $204,839K
= 3.39
The quick ratio of Azenta Inc has shown fluctuations over the periods analyzed. The quick ratio measures the company's ability to cover its current liabilities with its most liquid assets. A higher quick ratio indicates a stronger liquidity position.
In the most recent period, Sep 30, 2024, the quick ratio was 3.39, indicating that Azenta Inc had $3.39 in liquid assets available to cover each $1 of current liabilities. This suggests a relatively strong liquidity position, providing a cushion against short-term obligations.
Looking at the trend over the past several periods, the quick ratio has generally been above 1, indicating that Azenta Inc has typically had more than enough liquid assets to meet its short-term obligations. The quick ratio peaked at 11.97 on Jun 30, 2022, reflecting a very strong liquidity position at that time.
However, there are periods, such as Dec 31, 2021, when the quick ratio dropped significantly to 1.00, which may have raised concerns about the company's ability to cover its current liabilities with its liquid assets.
Overall, the trend in Azenta Inc's quick ratio shows variability, with some periods demonstrating very strong liquidity positions and others showing weaker positions. It is essential for the company to maintain a healthy quick ratio to ensure it can meet its short-term financial obligations effectively.
Peer comparison
Sep 30, 2024