Biomarin Pharmaceutical Inc (BMRN)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 755,127 | 724,531 | 587,276 | 649,158 | 437,446 |
| Short-term investments | US$ in thousands | 318,683 | 567,006 | 426,599 | 416,228 | 316,361 |
| Receivables | US$ in thousands | 633,704 | 461,316 | 373,399 | 448,351 | 377,404 |
| Total current liabilities | US$ in thousands | 1,177,020 | 588,884 | 546,497 | 492,548 | 932,503 |
| Quick ratio | 1.45 | 2.98 | 2.54 | 3.07 | 1.21 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($755,127K
+ $318,683K
+ $633,704K)
÷ $1,177,020K
= 1.45
The quick ratio of Biomarin Pharmaceutical Inc has fluctuated over the past five years, ranging from a low of 1.21 in 2019 to a high of 3.07 in 2020. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.
In 2023, the quick ratio stands at 1.45, indicating that Biomarin Pharmaceutical Inc has $1.45 in liquid assets available to cover each dollar of its current liabilities. This suggests that the company may have reduced its liquidity compared to the previous year but still has an acceptable level of short-term solvency.
It is important to note that a quick ratio above 1.0 typically indicates that a company has an adequate level of liquid assets to cover its short-term obligations. However, a declining trend in the quick ratio may indicate a potential liquidity issue that investors and stakeholders should monitor closely.
Peer comparison
Dec 31, 2023