Exelixis Inc (EXEL)

Quick ratio

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cash	US$ in thousands	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	266,501	242,317	369,789	373,937
Short-term investments	US$ in thousands	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	585,742	518,350	452,328	425,713
Receivables	US$ in thousands	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	119,073	169,788	97,541	107,670
Total current liabilities	US$ in thousands	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	142,746	141,069	110,796	125,132
Quick ratio		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	6.80	6.60	8.30	7.25

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($262,994K + $732,308K + $237,407K) ÷ $394,277K
= 3.13

The quick ratio of Exelixis Inc has been consistently high and demonstrates a strong liquidity position. The ratio has remained above 3 for all quarters, indicating that the company has more than enough liquid assets to cover its short-term liabilities.

Furthermore, the quick ratio has shown a general upward trend over the past few years, with occasional fluctuations. This indicates that Exelixis Inc has been effectively managing its current assets in relation to its current liabilities.

The highest quick ratio of 9.35 was recorded in Q2 2020, suggesting a peak level of liquidity during that period. On average, the quick ratio has remained comfortably above 4, reflecting the company's ability to easily meet its short-term obligations without relying heavily on inventory.

Overall, the consistent high quick ratio of Exelixis Inc signifies a stable and well-managed financial position in terms of liquidity.