Deere & Company (DE)
Cash ratio
| Oct 31, 2024 | Oct 27, 2024 | Oct 31, 2023 | Oct 29, 2023 | Oct 31, 2022 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 7,324,000 | 7,324,000 | 7,458,000 | 7,458,000 | 4,774,000 |
| Short-term investments | US$ in thousands | 1,154,000 | 1,154,000 | 946,000 | 946,000 | 734,000 |
| Total current liabilities | US$ in thousands | 38,334,000 | 13,561,000 | 41,064,000 | 17,964,000 | 33,125,000 |
| Cash ratio | 0.22 | 0.63 | 0.20 | 0.47 | 0.17 |
October 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($7,324,000K
+ $1,154,000K)
÷ $38,334,000K
= 0.22
The cash ratio for Deere & Company has varied over the past few years, indicating fluctuations in the company's ability to cover its short-term liabilities with cash and cash equivalents.
As of October 31, 2022, the cash ratio was 0.17, suggesting that the company had only 17 cents in cash and cash equivalents for every dollar of its short-term liabilities, which may indicate a relatively tight liquidity position.
By October 29, 2023, the cash ratio improved significantly to 0.47, indicating an enhanced ability to meet short-term obligations with available cash resources. However, this improvement was not sustained, as the ratio dropped to 0.20 by October 31, 2023, suggesting a decrease in liquidity.
Subsequently, on October 27, 2024, the cash ratio rose substantially to 0.63, indicating a strong liquidity position and a significant increase in the company's ability to cover short-term liabilities with cash. By October 31, 2024, the ratio decreased to 0.22, reflecting a slight decline in liquidity compared to the previous period.
Overall, the fluctuation in Deere & Company's cash ratio over the years indicates varying levels of liquidity and highlights the importance of monitoring cash reserves to ensure the company can meet its short-term financial obligations effectively.
Peer comparison
Oct 31, 2024