Garmin Ltd (GRMN)
Cash 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 and cash equivalents | US$ in thousands | 2,079,470 | 2,009,360 | 1,937,480 | 1,921,780 | 1,693,450 | 1,422,860 | 1,425,530 | 1,361,590 | 1,279,190 | 1,082,340 | 1,087,380 | 1,417,530 | 1,498,060 | 1,639,060 | 1,639,450 | 1,599,480 | 1,458,440 | 1,223,520 | 1,354,920 | 1,048,600 |
| Short-term investments | US$ in thousands | 421,270 | 414,701 | 288,659 | 274,579 | 274,618 | 273,050 | 253,689 | 188,878 | 173,288 | 378,705 | 526,639 | 375,237 | 347,980 | 345,214 | 330,567 | 342,656 | 387,642 | 430,164 | 380,880 | 391,646 |
| Total current liabilities | US$ in thousands | 1,507,860 | 1,578,660 | 1,624,320 | 1,117,390 | 1,310,690 | 1,327,800 | 1,449,650 | 1,008,200 | 1,211,640 | 1,442,920 | 1,623,890 | 1,152,500 | 1,448,150 | 1,373,940 | 1,458,830 | 933,125 | 1,164,220 | 1,122,960 | 1,163,930 | 781,872 |
| Cash ratio | 1.66 | 1.54 | 1.37 | 1.97 | 1.50 | 1.28 | 1.16 | 1.54 | 1.20 | 1.01 | 0.99 | 1.56 | 1.27 | 1.44 | 1.35 | 2.08 | 1.59 | 1.47 | 1.49 | 1.84 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($2,079,470K
+ $421,270K)
÷ $1,507,860K
= 1.66
The cash ratio of Garmin Ltd, which measures the company's ability to cover its short-term liabilities with its cash and cash equivalents, has shown some fluctuations over the periods provided.
From March 31, 2020, to June 30, 2022, the cash ratio ranged from 0.99 to 2.08, indicating variability in the company's liquidity position during this time. The highest cash ratio of 2.08 was reported on March 31, 2021, suggesting a strong ability to cover short-term obligations with cash on hand.
However, from June 30, 2022, to December 31, 2024, the cash ratio fluctuated within a narrower range of 0.99 to 1.97. The lowest cash ratio of 0.99 was observed on June 30, 2022, indicating a potential liquidity challenge during that period.
Overall, the cash ratio of Garmin Ltd has exhibited some volatility over the years, with both highs and lows in its ability to meet short-term obligations solely through its cash and cash equivalents. It is important for stakeholders to monitor these fluctuations to assess the company's liquidity risk and financial health.
Peer comparison
Dec 31, 2024