Cencora Inc. (COR)
Quick ratio
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 2,592,050 | 3,388,190 | 2,547,140 | 4,597,750 | 3,374,190 |
| Short-term investments | US$ in thousands | — | — | 372,908 | — | — |
| Receivables | US$ in thousands | 20,988,200 | 18,625,200 | 18,389,000 | 14,334,700 | 12,386,900 |
| Total current liabilities | US$ in thousands | 48,831,200 | 43,478,000 | 41,358,600 | 33,853,100 | 29,581,300 |
| Quick ratio | 0.48 | 0.51 | 0.52 | 0.56 | 0.53 |
September 30, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,592,050K
+ $—K
+ $20,988,200K)
÷ $48,831,200K
= 0.48
The quick ratio of Cencora Inc. has shown some fluctuations over the past four years. As of September 30, 2023, the quick ratio stands at 0.52, indicating a decline from the previous year's ratio of 0.55. Despite this decrease, the company's quick ratio has remained relatively stable over the last three years, with values of 0.56 in 2021 and 0.20 in 2020.
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. A ratio below 1 suggests that the company may have difficulty meeting its short-term liabilities, as its liquid assets may not be sufficient to cover these obligations.
The downward trend in Cencora Inc.'s quick ratio from 2022 to 2023 may indicate a potential deterioration in the company's liquidity position. It would be prudent for stakeholders to closely monitor the company's ability to convert its current assets into cash to meet short-term obligations.
Peer comparison
Sep 30, 2023