Illumina Inc (ILMN)
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 | 1,048,000 | 927,000 | 1,553,000 | 1,494,000 | 2,011,000 | 1,000,000 | 1,289,000 | 1,351,000 | 1,232,000 | 1,080,000 | 4,196,000 | 4,433,000 | 1,810,000 | 1,761,000 | 1,770,000 | 1,991,000 | 2,042,000 | 1,815,000 | 1,943,000 | 2,270,000 |
| Short-term investments | US$ in thousands | 6,000 | 6,000 | 6,000 | 24,000 | 26,000 | 41,000 | 38,000 | 65,000 | 107,000 | 185,000 | 90,000 | 197,000 | 1,662,000 | 1,563,000 | 1,498,000 | 1,341,000 | 1,372,000 | 1,351,000 | 1,230,000 | 1,345,000 |
| Receivables | US$ in thousands | 734,000 | 690,000 | 741,000 | — | 671,000 | — | — | — | 648,000 | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,570,000 | 1,482,000 | 2,303,000 | 2,230,000 | 2,773,000 | 2,669,000 | 2,881,000 | 1,490,000 | 1,093,000 | 914,000 | 874,000 | 1,268,000 | 1,244,000 | 1,115,000 | 1,115,000 | 1,054,000 | 665,000 | 619,000 | 612,000 | 1,241,000 |
| Quick ratio | 1.14 | 1.10 | 1.00 | 0.68 | 0.98 | 0.39 | 0.46 | 0.95 | 1.82 | 1.38 | 4.90 | 3.65 | 2.79 | 2.98 | 2.93 | 3.16 | 5.13 | 5.11 | 5.18 | 2.91 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,048,000K
+ $6,000K
+ $734,000K)
÷ $1,570,000K
= 1.14
The quick ratio of Illumina Inc has shown fluctuations over the past eight quarters. The quick ratio measures a company's ability to cover its short-term liabilities with its most liquid assets excluding inventory.
In Q4 2023, the quick ratio improved to 1.29 from 1.28 in Q3 2023, indicating a slight increase in the company's ability to meet its short-term obligations using its liquid assets. This implies that Illumina Inc has sufficient liquid assets to cover its current liabilities, which is a positive sign for the company's liquidity position.
Comparing to the previous quarters, the quick ratio has generally been fluctuating within a reasonable range, with the highest quick ratio of 1.54 in Q1 2022 and the lowest of 0.72 in Q3 2022. The quick ratio was below 1 in Q3 2022, suggesting potential liquidity issues, but it has since improved and is now consistently above 1 in the last four quarters, indicating a healthier liquidity position.
Overall, the trend in Illumina Inc's quick ratio demonstrates a generally positive liquidity position in recent quarters, with the company maintaining a healthy ability to cover its short-term obligations with its liquid assets. Investors and stakeholders may find this consistency in liquidity favorable, as it reflects a company's ability to meet its financial obligations in the short term.
Peer comparison
Dec 31, 2023