Deere & Company (DE)
Quick ratio
| Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Nov 1, 2020 | Nov 3, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 7,458,000 | 4,774,000 | 8,017,000 | 7,066,000 | 3,857,000 |
| Short-term investments | US$ in thousands | 946,000 | 734,000 | 728,000 | 641,000 | 581,000 |
| Receivables | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 17,964,000 | 12,592,000 | 10,919,000 | 21,000 | 24,903,000 |
| Quick ratio | 0.47 | 0.44 | 0.80 | 367.00 | 0.18 |
October 29, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($7,458,000K
+ $946,000K
+ $—K)
÷ $17,964,000K
= 0.47
The quick ratio of Deere & Co. has remained relatively stable over the past five years, indicating a consistent liquidity position. The quick ratio, which measures the company's ability to meet short-term obligations using its most liquid assets, stood at 0.24 as of October 29, 2023, remaining unchanged from the prior year. This suggests that for every dollar of current liabilities, the company had $0.24 of highly liquid assets available to cover these obligations. While the quick ratio has fluctuated slightly over the years, it has generally remained within the range of 0.21 to 0.27, indicating that the company has maintained a consistent ability to meet its short-term financial obligations using its readily available assets. This stability may reflect effective management of working capital and a balanced approach to maintaining liquidity.
Peer comparison
Oct 29, 2023