Intuit Inc (INTU)
Cash ratio
| Jul 31, 2024 | Jul 31, 2023 | Jul 31, 2022 | Jul 31, 2021 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 3,609,000 | 2,848,000 | 2,796,000 | 2,562,000 | 6,442,000 |
| Short-term investments | US$ in thousands | 465,000 | 814,000 | 485,000 | 1,308,000 | 608,000 |
| Total current liabilities | US$ in thousands | 7,491,000 | 3,790,000 | 3,630,000 | 2,655,000 | 3,529,000 |
| Cash ratio | 0.54 | 0.97 | 0.90 | 1.46 | 2.00 |
July 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($3,609,000K
+ $465,000K)
÷ $7,491,000K
= 0.54
The cash ratio of Intuit Inc has been gradually decreasing over the past five years, from 2.00 in July 2020 to 0.54 in July 2024. This trend indicates that the company has been utilizing its cash reserves less effectively to cover its short-term liabilities in recent years. The decreasing cash ratio may raise concerns about Intuit Inc's liquidity position and ability to meet its immediate financial obligations. It suggests that the company may need to improve its cash management practices or increase its liquid assets to ensure better financial stability in the future.
Peer comparison
Jul 31, 2024