Biomarin Pharmaceutical Inc (BMRN)

Quick ratio

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Cash US$ in thousands 942,842 675,448 972,150 746,996 755,127 785,414 694,381 580,074 724,531 761,515 619,802 605,440 587,276 617,143 641,533 667,313 649,158 1,015,680 818,900 476,632
Short-term investments US$ in thousands 194,864 254,996 252,201 299,584 318,683 340,431 476,577 572,017 567,006 512,253 489,945 450,798 426,599 462,333 481,864 420,178 416,228 489,998 561,472 381,764
Receivables US$ in thousands 660,535 777,547 691,232 637,163 633,704 572,498 610,222 597,913 461,316 419,622 466,507 430,147 373,399 374,937 424,419 396,097 448,351 411,712 381,215 396,384
Total current liabilities US$ in thousands 606,988 715,658 1,067,340 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
Quick ratio 2.96 2.39 1.79 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

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($942,842K + $194,864K + $660,535K) ÷ $606,988K
= 2.96

The quick ratio of Biomarin Pharmaceutical Inc has exhibited some fluctuations over the quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. The trend shows an increasing quick ratio from March 2020 to June 2021, indicating the company had a healthy liquidity position during this period.

However, there was a slight dip in the quick ratio in September 2021, December 2021, and March 2022, which could suggest a temporary decrease in liquidity or an increase in short-term obligations during those quarters. The quick ratio recovered and reached its peak at 3.49 in June 2021, demonstrating an improvement in the company's ability to cover its current liabilities with its quick assets.

Subsequently, there was a slight decline in the quick ratio from June 2021 to September 2022, followed by a fluctuating trend until December 2024. The quick ratio dropped significantly in the last two quarters of 2023 and the first quarter of 2024, indicating potential liquidity challenges or increased short-term obligations during this period.

Overall, while the quick ratio has shown some variability over the quarters, it generally remained above 1, indicating that Biomarin Pharmaceutical Inc had a sufficient level of quick assets to cover its current liabilities. Investors and stakeholders should continue to monitor this ratio to assess the company's liquidity position and ability to meet its short-term obligations efficiently.