Biomarin Pharmaceutical Inc (BMRN)

Quick 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	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
Receivables	US$ in thousands	637,163	633,704	572,498	610,222	597,913	461,316	419,622	466,507	430,147	373,399	374,937	424,419	396,097	448,351	411,712	381,215	396,384	377,404	402,970	377,150
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
Quick ratio		1.55	1.45	1.46	2.98	2.93	2.98	3.25	3.39	3.03	2.54	2.82	3.49	3.45	3.07	2.24	2.17	1.53	1.21	2.28	2.52

March 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($746,996K + $299,584K + $637,163K) ÷ $1,087,900K
= 1.55

The quick ratio of Biomarin Pharmaceutical Inc has shown fluctuations over the past several quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.

The quick ratio has generally been above 1, indicating that Biomarin has had sufficient liquid assets to cover its current liabilities. The trend shows that the quick ratio peaked at 3.49 in Jun 30, 2021, before declining to 1.55 in Mar 31, 2024. This decrease may suggest a potential decrease in the company's ability to quickly cover its short-term liabilities with its liquid assets.

It is important to monitor the quick ratio over time to ensure that the company maintains a healthy level of liquidity to meet its short-term obligations. A quick ratio above 1 indicates a strong liquidity position, while a ratio below 1 may indicate potential liquidity issues.