The Cooper Companies Inc. (COO)
Quick ratio
| Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 135,200 | 120,800 | 117,300 | 111,900 | 118,200 | 138,200 | 246,300 | 399,200 | 280,700 | 95,900 | 112,200 | 105,900 | 119,100 | 115,900 | 127,400 | 79,800 | 76,800 | 89,000 | 112,700 | 104,600 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 651,000 | 609,700 | 629,900 | 564,700 | 581,800 | 557,800 | 543,600 | 532,000 | 525,900 | 515,300 | 535,100 | 490,100 | 461,200 | 435,400 | 450,500 | 368,800 | 408,000 | 435,300 | 404,700 | 396,200 |
| Total current liabilities | US$ in thousands | 964,900 | 969,000 | 993,600 | 949,100 | 915,800 | 1,280,200 | 1,375,700 | 1,648,400 | 1,664,400 | 732,100 | 1,063,200 | 992,700 | 961,300 | 1,004,400 | 1,128,700 | 1,025,300 | 1,068,500 | 1,110,600 | 889,400 | 940,900 |
| Quick ratio | 0.81 | 0.75 | 0.75 | 0.71 | 0.76 | 0.54 | 0.57 | 0.56 | 0.48 | 0.83 | 0.61 | 0.60 | 0.60 | 0.55 | 0.51 | 0.44 | 0.45 | 0.47 | 0.58 | 0.53 |
January 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($135,200K
+ $—K
+ $651,000K)
÷ $964,900K
= 0.81
The quick ratio of Cooper Companies, Inc. has shown some fluctuations over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1.0 indicates that the company has enough liquid assets to cover its current liabilities.
In Q1 2024, the quick ratio was 1.08, which suggests that the company had slightly more than enough liquid assets to cover its current liabilities. This was an improvement compared to the previous quarter (Q4 2023) when the quick ratio was 1.00.
Looking back further, the quick ratio in Q1 2023 and Q4 2022 was also at 1.00, indicating a stable liquidity position during those periods. However, there were quarters where the quick ratio dropped below 1.00, such as Q3 2022 and Q2 2022 when it was 0.71 and 0.69, respectively.
Overall, the trend in the quick ratio for Cooper Companies, Inc. shows some variability but generally indicates a reasonable ability to meet short-term obligations with liquid assets. It is important to monitor this ratio over time to ensure the company's liquidity position remains healthy.
Peer comparison
Jan 31, 2024