Bristol-Myers Squibb Company (BMY)
Quick 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 | US$ in thousands | 11,464,000 | 7,514,000 | 8,372,000 | 8,995,000 | 9,123,000 | 7,734,000 | 10,750,000 | 12,369,000 | 13,979,000 | 13,540,000 | 11,024,000 | 10,982,000 | 14,546,000 | 19,435,000 | 19,934,000 | 15,817,000 | 12,346,000 | 30,489,000 | 28,404,000 | 7,335,000 |
| Short-term investments | US$ in thousands | 1,275,000 | 517,000 | 1,206,000 | 1,181,000 | 1,234,000 | 2,212,000 | 3,531,000 | 4,053,000 | 5,006,000 | 6,001,000 | 5,360,000 | 5,204,000 | 4,737,000 | 4,781,000 | 4,576,000 | 4,472,000 | 5,242,000 | 2,313,000 | 1,448,000 | 1,865,000 |
| Receivables | US$ in thousands | 10,921,000 | 10,304,000 | 10,112,000 | 10,054,000 | 9,886,000 | 9,613,000 | 9,054,000 | 8,511,000 | 9,369,000 | 9,245,000 | 9,017,000 | 8,660,000 | 8,501,000 | 8,062,000 | 7,855,000 | 8,290,000 | 7,685,000 | 5,510,000 | 5,667,000 | 5,704,000 |
| Total current liabilities | US$ in thousands | 22,262,000 | 23,462,000 | 20,150,000 | 19,085,000 | 21,890,000 | 18,930,000 | 20,915,000 | 22,821,000 | 21,868,000 | 21,460,000 | 18,991,000 | 17,330,000 | 19,080,000 | 20,464,000 | 23,421,000 | 19,232,000 | 18,304,000 | 10,489,000 | 9,711,000 | 8,841,000 |
| Quick ratio | 1.06 | 0.78 | 0.98 | 1.06 | 0.92 | 1.03 | 1.12 | 1.09 | 1.30 | 1.34 | 1.34 | 1.43 | 1.46 | 1.58 | 1.38 | 1.49 | 1.38 | 3.65 | 3.66 | 1.69 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($11,464,000K
+ $1,275,000K
+ $10,921,000K)
÷ $22,262,000K
= 1.06
The quick ratio of Bristol-Myers Squibb Co. for the latest quarter was 1.31, indicating that for every dollar of current liabilities, the company had $1.31 in assets that could quickly be converted into cash. This suggests a healthy liquidity position, as a quick ratio above 1 signifies that the company has an adequate level of liquid assets to cover its short-term obligations.
The quick ratio has demonstrated some fluctuations over the past eight quarters, ranging from a low of 1.07 to a high of 1.33. The ratio peaked in Q3 2022 at 1.33 before gradually decreasing in subsequent quarters. Despite the fluctuations, the quick ratio has generally remained above 1, reflecting Bristol-Myers Squibb Co.'s ability to meet its short-term obligations with liquid assets.
Overall, the trend in the quick ratio indicates that Bristol-Myers Squibb Co. has maintained a relatively stable liquidity position over the past two years, with fluctuations likely influenced by changes in the company's current assets and liabilities. An ongoing monitoring of the quick ratio will be important to assess the company's ability to meet its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023