Best Buy Co. Inc (BBY)
Quick ratio
| Feb 3, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 1,447,000 | 636,000 | 1,093,000 | 1,030,000 | 1,874,000 | 932,000 | 840,000 | 640,000 | 2,936,000 | 3,465,000 | 4,340,000 | 4,278,000 | 5,494,000 | 5,136,000 | 5,305,000 | 3,919,000 | 2,229,000 | 1,205,000 | 1,289,000 | 1,561,000 |
| Short-term investments | US$ in thousands | — | 251,000 | 227,000 | 200,000 | 178,000 | 176,000 | 125,000 | — | — | — | — | 60,000 | — | 545,000 | — | — | — | — | 320,000 | — |
| Receivables | US$ in thousands | 939,000 | 901,000 | 856,000 | 860,000 | 1,141,000 | 1,050,000 | 840,000 | 804,000 | 1,042,000 | 1,016,000 | 883,000 | 850,000 | 1,061,000 | 1,028,000 | 906,000 | 749,000 | 1,149,000 | 1,056,000 | 966,000 | 833,000 |
| Total current liabilities | US$ in thousands | 7,909,000 | 10,010,000 | 8,433,000 | 7,908,000 | 8,979,000 | 10,170,000 | 8,650,000 | 8,635,000 | 10,674,000 | 11,946,000 | 10,357,000 | 9,641,000 | 10,521,000 | 12,945,000 | 10,080,000 | 8,804,000 | 8,060,000 | 9,726,000 | 7,576,000 | 7,171,000 |
| Quick ratio | 0.30 | 0.18 | 0.26 | 0.26 | 0.36 | 0.21 | 0.21 | 0.17 | 0.37 | 0.38 | 0.50 | 0.54 | 0.62 | 0.52 | 0.62 | 0.53 | 0.42 | 0.23 | 0.34 | 0.33 |
February 3, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,447,000K
+ $—K
+ $939,000K)
÷ $7,909,000K
= 0.30
The quick ratio of Best Buy Co. Inc has fluctuated over the past 20 reporting periods, ranging from a low of 0.17 to a high of 0.62. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A higher quick ratio indicates a stronger ability to cover short-term liabilities.
Based on the data provided, the quick ratio has shown some variability, with the lowest recorded ratio of 0.17 occurring on April 30, 2022, and the highest ratio of 0.62 on January 30, 2021. Notably, the quick ratio on average seems to have improved in recent periods, with the most recent quick ratio of 0.30 being higher than the initial quick ratio observed in May 2, 2019, which was 0.23.
Overall, while the quick ratio has shown fluctuations over time, investors and stakeholders may want to monitor this metric closely to assess Best Buy Co. Inc's short-term liquidity position and ability to meet its immediate financial obligations.