Biogen Inc (BIIB)

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	1,049,900	2,287,900	2,617,800	2,898,200	3,419,300	3,675,600	2,646,600	1,749,300	2,261,400	1,541,800	1,742,000	1,217,500	1,331,200	2,224,800	2,384,900	2,591,300	2,913,700	2,343,900	1,723,400	2,243,200
Short-term investments	US$ in thousands	416,800	413,600	4,177,500	2,821,200	2,264,600	2,131,500	2,936,900	2,862,700	2,589,600	2,579,500	1,308,800	1,320,000	1,278,900	1,355,000	1,942,700	1,269,100	1,562,200	2,093,500	1,228,800	1,665,800
Total current liabilities	US$ in thousands	3,434,300	5,022,300	3,186,500	3,014,900	3,272,800	3,926,400	5,018,000	3,946,600	4,298,200	4,211,600	3,347,200	3,165,800	3,742,200	3,804,000	3,447,100	4,638,600	4,863,800	4,432,200	3,210,900	3,148,700
Cash ratio		0.43	0.54	2.13	1.90	1.74	1.48	1.11	1.17	1.13	0.98	0.91	0.80	0.70	0.94	1.26	0.83	0.92	1.00	0.92	1.24

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,049,900K + $416,800K) ÷ $3,434,300K
= 0.43

The cash ratio of Biogen Inc has fluctuated over the past eight quarters, ranging from a low of 0.65 to a high of 2.19. The cash ratio measures a company's ability to cover its short-term liabilities with its readily available cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations.

In the most recent quarters, the cash ratio has remained relatively stable around 0.65, indicating that Biogen Inc may have had limited cash available to cover its short-term liabilities. However, in Q2 and Q1 2023, the cash ratio spiked to 2.19 and 2.14 respectively, suggesting that the company had significantly more cash on hand relative to its short-term liabilities during those periods.

Overall, fluctuations in Biogen Inc's cash ratio could be due to various factors such as changes in cash reserves, short-term debt levels, or fluctuations in operating cash flows. It is important for investors and analysts to closely monitor these fluctuations to assess the company's liquidity position and financial health.