The Cooper Companies Inc. (COO)
Cash ratio
| Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 120,800 | 138,200 | 95,900 | 115,900 | 89,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 969,000 | 1,280,200 | 732,100 | 1,004,400 | 1,110,600 |
| Cash ratio | 0.12 | 0.11 | 0.13 | 0.12 | 0.08 |
October 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($120,800K
+ $—K)
÷ $969,000K
= 0.12
The cash ratio of Cooper Companies, Inc. has fluctuated over the past five years, reflecting the company's ability to meet its short-term obligations using its cash and cash equivalents. The ratio stood at 0.20 in 2019 and has since shown an increasing trend, reaching 0.37 in 2023. This indicates an improvement in the company's short-term liquidity position, as it has more cash on hand relative to its current liabilities. The ratio exceeded 0.3 in 2023, suggesting that Cooper Companies, Inc. is holding sufficient cash to cover its short-term obligations, providing a positive signal to investors and creditors. However, further analysis in conjunction with other liquidity and solvency measures would provide a more comprehensive assessment of the company's overall financial health.
Peer comparison
Oct 31, 2023