Ciena Corp (CIEN)
Cash ratio
| Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 30, 2021 | Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Jan 31, 2019 | Jul 31, 2018 | Apr 30, 2018 | Jan 31, 2018 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,264,750 | 1,010,620 | 1,117,920 | 1,167,700 | 1,054,550 | 994,352 | 859,687 | 1,019,860 | 1,118,640 | 1,422,550 | 1,230,440 | 1,202,970 | 1,029,240 | 1,088,620 | 1,093,750 | 887,732 | 668,810 | 726,214 | 652,096 | 648,867 |
| Short-term investments | US$ in thousands | 106,678 | 104,753 | 141,843 | 150,464 | 100,424 | 153,989 | 321,823 | 529,552 | 460,368 | 181,483 | 182,010 | 151,816 | 151,434 | 150,667 | 70,404 | 100,742 | 119,143 | 228,940 | 268,584 | 278,743 |
| Total current liabilities | US$ in thousands | 841,306 | 932,021 | 965,741 | 1,057,930 | 1,018,210 | 1,040,580 | 915,342 | 868,758 | 760,328 | 909,030 | 827,091 | 782,676 | 684,767 | 760,701 | 720,491 | 712,986 | 700,760 | 1,068,440 | 989,755 | 933,376 |
| Cash ratio | 1.63 | 1.20 | 1.30 | 1.25 | 1.13 | 1.10 | 1.29 | 1.78 | 2.08 | 1.76 | 1.71 | 1.73 | 1.72 | 1.63 | 1.62 | 1.39 | 1.12 | 0.89 | 0.93 | 0.99 |
January 27, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,264,750K
+ $106,678K)
÷ $841,306K
= 1.63
The cash ratio for CIENA Corp. has shown fluctuations over the past eight quarters. In the most recent quarter, Q1 2024, the cash ratio was at 1.89, indicating that the company held $1.89 in cash and cash equivalents for every $1 of current liabilities. This represents an improvement from the previous quarter, Q4 2023, when the cash ratio was at 1.43.
The trend in the cash ratio over the past two years shows variability, with fluctuations between 1.29 and 2.02. Generally, a higher cash ratio suggests that the company is more capable of meeting its short-term obligations using its cash reserves. However, it is essential to consider other factors such as the industry norms and the company's specific business model when interpreting the cash ratio in isolation.
Overall, the upward trend in the cash ratio for CIENA Corp. from Q4 2023 to Q1 2024 indicates an improvement in the company's liquidity position, potentially signaling a strengthened ability to manage its short-term liabilities using available cash resources.
Peer comparison
Jan 27, 2024