Cencora Inc. (COR)
Quick ratio
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 3,132,650 | 2,592,050 | 3,388,190 | 2,547,140 | 4,597,750 |
| Short-term investments | US$ in thousands | — | — | — | 372,908 | — |
| Receivables | US$ in thousands | 23,960,000 | 20,988,200 | 18,625,200 | 18,389,000 | 14,334,700 |
| Total current liabilities | US$ in thousands | 54,277,100 | 48,831,200 | 43,478,000 | 41,358,600 | 33,853,100 |
| Quick ratio | 0.50 | 0.48 | 0.51 | 0.52 | 0.56 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($3,132,650K
+ $—K
+ $23,960,000K)
÷ $54,277,100K
= 0.50
The quick ratio of Cencora Inc. has been fluctuating over the past five years, indicating varying levels of the company's ability to meet its short-term obligations with its most liquid assets. The ratio has shown a slight decline from 0.56 in 2020 to 0.50 in 2024, suggesting a potential decrease in the company's ability to cover its current liabilities with its quick assets. However, the ratio has remained relatively stable between 0.48 and 0.52 in the intervening years.
A quick ratio of less than 1 indicates that Cencora may have difficulty meeting its short-term obligations solely with its quick assets. Investors and creditors typically prefer to see a quick ratio above 1 as it suggests a stronger ability to cover short-term liabilities. Cencora Inc. should closely monitor this trend to ensure it maintains adequate liquidity to meet its financial obligations in the short term.
Peer comparison
Sep 30, 2024