Deere & Company (DE)
Quick ratio
| Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Aug 1, 2021 | May 2, 2021 | Jan 31, 2021 | Nov 1, 2020 | Aug 2, 2020 | May 3, 2020 | Feb 2, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 7,324,000 | 7,004,000 | 5,553,000 | 5,137,000 | 7,458,000 | 6,576,000 | 5,267,000 | 3,976,000 | 4,774,000 | 4,359,000 | 3,878,000 | 4,472,000 | 8,017,000 | 7,519,000 | 7,182,000 | 6,962,000 | 7,066,000 | 8,190,000 | 8,900,000 | 3,602,000 |
| Short-term investments | US$ in thousands | — | 12,000 | 1,094,000 | 1,136,000 | 946,000 | 841,000 | 856,000 | 852,000 | 734,000 | 719,000 | 2,000 | 735,000 | 728,000 | 688,000 | 668,000 | 667,000 | 641,000 | 640,000 | 626,000 | 609,000 |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 13,561,000 | 15,294,000 | 17,699,000 | 17,117,000 | 17,964,000 | 17,143,000 | 17,109,000 | 14,129,000 | 12,592,000 | 14,176,000 | 12,413,000 | 10,990,000 | 10,919,000 | 10,404,000 | 9,911,000 | 20,000 | 21,000 | 9,075,000 | 13,000 | 12,000 |
| Quick ratio | 0.54 | 0.46 | 0.38 | 0.37 | 0.47 | 0.43 | 0.36 | 0.34 | 0.44 | 0.36 | 0.31 | 0.47 | 0.80 | 0.79 | 0.79 | 381.45 | 367.00 | 0.97 | 732.77 | 350.92 |
October 27, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($7,324,000K
+ $—K
+ $—K)
÷ $13,561,000K
= 0.54
The quick ratio of Deere & Company has shown fluctuations over the past several quarters. In the most recent quarter, ending on October 27, 2024, the quick ratio was 0.54, indicating that the company had $0.54 of liquid assets available to cover each dollar of current liabilities. This ratio improved compared to the previous quarter where it was 0.46.
Historically, the quick ratio has ranged from a low of 0.31 in May 2022 to a high of 0.80 in October 2021. The quick ratio is a measure of the company's ability to meet its short-term obligations with its most liquid assets. A ratio above 1 indicates that the company has more liquid assets than current liabilities, which is generally considered a good sign.
It is important to note the unusually high quick ratio of 381.45 reported in January 2021 and 367.00 in November 2020. These figures are likely distorted due to an anomaly in the financial data reported for those periods.
Overall, the trend in the quick ratio for Deere & Company suggests some variability in its liquidity position, with the company maintaining a level above 1 in most periods, indicating a strong ability to meet short-term obligations with its liquid assets. However, careful attention should be paid to any significant fluctuations and anomalies in the ratio to assess the company's liquidity risk properly.
Peer comparison
Oct 27, 2024