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