Deere & Company (DE)
Quick ratio
| Oct 31, 2024 | Oct 27, 2024 | Oct 31, 2023 | Oct 29, 2023 | Oct 31, 2022 | ||
|---|---|---|---|---|---|---|
| Cash | 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 |
| Receivables | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 38,334,000 | 13,561,000 | 41,064,000 | 17,964,000 | 33,125,000 |
| Quick ratio | 0.22 | 0.63 | 0.20 | 0.47 | 0.17 |
October 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($7,324,000K
+ $1,154,000K
+ $—K)
÷ $38,334,000K
= 0.22
The quick ratio of Deere & Company has shown fluctuations over the years based on the provided data.
As of October 31, 2022, the quick ratio was 0.17, indicating that the company had limited liquid assets to cover its current liabilities. This might suggest potential liquidity challenges in meeting short-term obligations.
By October 29, 2023, the quick ratio improved to 0.47, signaling a better ability to meet its short-term liabilities with its quick assets. This could indicate improved liquidity management or an increase in readily available assets.
However, the quick ratio decreased again to 0.20 as of October 31, 2023, potentially reflecting a decline in the company's ability to quickly cover its current obligations with its liquid assets.
Subsequently, there was a significant improvement in the quick ratio to 0.63 by October 27, 2024, suggesting a strengthening ability to meet short-term obligations using quick assets.
Finally, as of October 31, 2024, the quick ratio dropped to 0.22, showing a decrease in liquidity compared to the previous period.
Overall, the fluctuations in Deere & Company's quick ratio over the years indicate varying levels of liquidity and the company's ability to meet its short-term obligations with its liquid assets. It is essential for investors and stakeholders to monitor these changes to assess the company's financial health and risk management strategies.
Peer comparison
Oct 31, 2024