Broadridge Financial Solutions Inc (BR)

Quick ratio

		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	Dec 31, 2019	Sep 30, 2019
Cash	US$ in thousands	304,400	235,600	277,000	234,000	252,300	331,600	280,000	227,100	224,700	277,200	281,200	316,700	274,500	355,800	365,600	356,600	476,600	402,100	234,000	358,300
Short-term investments	US$ in thousands	800	800	700	700	700	700	600	600	600	600	700	600	700	1,000	600	400	500	500	400	300
Receivables	US$ in thousands	-9,700	-7,900	-6,600	-6,600	-7,200	-6,900	-5,900	-6,100	-6,800	-5,200	-5,800	-6,400	-9,300	-8,200	-7,100	-7,500	-9,800	-3,800	-2,700	-2,100
Total current liabilities	US$ in thousands	1,421,800	1,122,400	971,200	924,000	2,397,800	1,163,000	1,018,900	991,700	1,313,400	1,176,800	1,087,800	966,800	1,288,000	1,002,600	837,900	743,900	1,341,000	1,255,000	1,124,800	1,040,900
Quick ratio		0.21	0.20	0.28	0.25	0.10	0.28	0.27	0.22	0.17	0.23	0.25	0.32	0.21	0.35	0.43	0.47	0.35	0.32	0.21	0.34

June 30, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($304,400K + $800K + $-9,700K) ÷ $1,421,800K
= 0.21

The quick ratio of Broadridge Financial Solutions Inc has displayed fluctuations over the past few quarters. The ratio, which indicates the company's ability to meet short-term obligations with its most liquid assets, shows a decreasing trend from December 2020 to June 2021, reaching a low point of 0.10.

Subsequently, the quick ratio has shown improvement, with occasional fluctuations, reaching its peak at 0.47 in September 2020. Despite this improvement, the ratio has not consistently maintained a level above 0.30, which is generally considered a healthy benchmark for most industries.

The fluctuating nature of Broadridge's quick ratio suggests some variability in the company's ability to cover immediate liabilities with its liquid assets. Further analysis of the company's liquidity position and working capital management practices may be warranted to understand the factors driving these fluctuations.