Intuit Inc (INTU)
Quick ratio
| Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 3,609,000 | 4,215,000 | 1,474,000 | 1,734,000 | 2,848,000 | 3,745,000 | 1,547,000 | 2,125,000 | 2,796,000 | 3,531,000 | 1,257,000 | 2,864,000 | 2,562,000 | 3,164,000 | 1,952,000 | 5,174,000 | 6,442,000 | 3,371,000 | 1,641,000 | 1,630,000 |
| Short-term investments | US$ in thousands | 465,000 | 463,000 | 15,000 | 537,000 | 814,000 | 523,000 | 524,000 | 599,000 | 485,000 | 373,000 | 157,000 | 386,000 | 1,308,000 | 952,000 | 786,000 | 619,000 | 608,000 | 600,000 | 625,000 | 625,000 |
| Receivables | US$ in thousands | 535,000 | 4,000 | 126,000 | 17,000 | 434,000 | 2,000 | 67,000 | 1,038,000 | 1,048,000 | 744,000 | 1,130,000 | 522,000 | 653,000 | 558,000 | 618,000 | 128,000 | 201,000 | 225,000 | 655,000 | 190,000 |
| Total current liabilities | US$ in thousands | 7,491,000 | 6,163,000 | 6,216,000 | 4,996,000 | 3,790,000 | 4,415,000 | 3,862,000 | 3,325,000 | 3,630,000 | 3,591,000 | 2,968,000 | 2,138,000 | 2,655,000 | 2,712,000 | 2,677,000 | 2,152,000 | 3,529,000 | 2,713,000 | 2,204,000 | 1,757,000 |
| Quick ratio | 0.62 | 0.76 | 0.26 | 0.46 | 1.08 | 0.97 | 0.55 | 1.13 | 1.19 | 1.29 | 0.86 | 1.76 | 1.70 | 1.72 | 1.25 | 2.75 | 2.05 | 1.55 | 1.33 | 1.39 |
July 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($3,609,000K
+ $465,000K
+ $535,000K)
÷ $7,491,000K
= 0.62
The quick ratio of Intuit Inc as of July 31, 2024, was 0.62, indicating that the company had $0.62 in liquid assets available to cover each $1 of current liabilities.
The quick ratio has fluctuated over the past few quarters, ranging from a low of 0.26 in January 2024 to a high of 2.75 in October 2020. This suggests varying levels of liquidity and ability to meet short-term obligations during these periods.
A quick ratio below 1 typically raises concerns about the company's liquidity and may indicate potential difficulty in meeting short-term obligations. On the other hand, a quick ratio above 1 implies that the company has more than enough liquid assets to cover its current liabilities.
It is important to note that the quick ratio is just one financial metric and should be interpreted alongside other ratios and factors to gain a comprehensive understanding of Intuit Inc's financial health and liquidity position.
Peer comparison
Jul 31, 2024