Biomarin Pharmaceutical Inc (BMRN)

Cash ratio

		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	Sep 30, 2019	Jun 30, 2019
Cash and cash equivalents	US$ in thousands	746,996	755,127	785,414	694,381	580,074	724,531	761,515	619,802	605,440	587,276	617,143	641,533	667,313	649,158	1,015,680	818,900	476,632	437,446	423,220	307,577
Short-term investments	US$ in thousands	299,584	318,683	340,431	476,577	572,017	567,006	512,253	489,945	450,798	426,599	462,333	481,864	420,178	416,228	489,998	561,472	381,764	316,361	297,572	423,526
Total current liabilities	US$ in thousands	1,087,900	1,177,020	1,163,220	597,231	598,231	588,884	521,020	464,727	490,418	546,497	514,898	443,344	430,035	492,548	854,693	813,302	820,470	932,503	493,745	439,428
Cash ratio		0.96	0.91	0.97	1.96	1.93	2.19	2.44	2.39	2.15	1.86	2.10	2.53	2.53	2.16	1.76	1.70	1.05	0.81	1.46	1.66

March 31, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($746,996K + $299,584K) ÷ $1,087,900K
= 0.96

The cash ratio of Biomarin Pharmaceutical Inc has shown fluctuations over the past few quarters. The cash ratio measures the ability of a company to cover its short-term liabilities with its cash and cash equivalents.

Based on the data provided:
- The cash ratio peaked at 2.53 in Jun 30, 2021, indicating that Biomarin had a high level of cash and cash equivalents relative to its current liabilities at that time.
- However, the cash ratio decreased to 0.81 by Dec 31, 2019, which suggests a lower ability to cover short-term obligations with its available cash.
- The most recent cash ratio of 0.96 as of Mar 31, 2024, indicates an improvement compared to the previous quarter.

Overall, the company's cash ratio has shown variability, but maintaining a ratio above 1 is generally desirable as it indicates that the company has more than enough cash to cover its short-term obligations. Biomarin Pharmaceutical Inc may need to closely monitor its cash reserves and liquidity position to ensure it can meet its short-term financial commitments effectively.