Exelixis Inc (EXEL)

Quick ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Cash	US$ in thousands	217,374	258,346	198,459	259,561	262,994	396,859	464,480	540,597	501,195	675,286	627,000	723,269	647,169	567,325	492,462	370,209	319,217	334,046	527,143	357,340
Short-term investments	US$ in thousands	893,902	930,815	803,540	703,695	732,308	706,528	802,335	772,536	807,273	871,706	907,938	847,060	819,905	835,406	854,171	815,285	887,319	853,835	685,895	597,028
Receivables	US$ in thousands	265,437	269,706	396,584	240,577	237,407	248,113	232,818	233,923	214,784	215,015	235,400	190,614	282,650	179,493	171,753	177,673	160,875	166,138	121,080	137,338
Total current liabilities	US$ in thousands	403,769	394,346	345,703	373,010	394,277	376,816	339,617	327,597	324,359	301,733	304,521	289,079	337,590	269,508	255,326	213,337	204,658	201,343	142,681	140,477
Quick ratio		3.41	3.70	4.05	3.23	3.13	3.59	4.42	4.72	4.70	5.84	5.81	6.09	5.18	5.87	5.95	6.39	6.68	6.72	9.35	7.77

December 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($217,374K + $893,902K + $265,437K) ÷ $403,769K
= 3.41

The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets excluding inventory.

Looking at the quick ratio trend for Exelixis Inc from March 31, 2020, to December 31, 2024, we can see fluctuations in the values. The ratio started relatively high at 7.77 in March 2020 and peaked at 9.35 in June 2020 before experiencing a downward trend.

The quick ratio gradually decreased over the subsequent quarters, reaching its lowest point at 3.13 in December 31, 2023. This suggests that Exelixis Inc may have faced challenges in maintaining sufficient liquid assets to cover its short-term liabilities during this period.

However, there was a slight improvement in the quick ratio from March 31, 2024, to December 31, 2024, showing a more stable position with the ratio ranging between 3.13 and 4.05. This may indicate that Exelixis Inc is managing its short-term liquidity better, although it is still below the levels seen in the earlier periods.

Overall, the analysis of Exelixis Inc's quick ratio indicates fluctuations in its ability to meet short-term obligations with liquid assets over the analyzed period, highlighting the importance of monitoring liquidity management closely for sustainable financial performance.