Eli Lilly and Company (LLY)

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	3,268,400	3,369,000	3,223,600	2,460,200	2,818,600	2,380,800	2,694,500	3,545,900	2,067,000	2,617,400	2,622,900	2,459,200	3,818,500	3,788,200	3,220,000	3,002,400	3,657,100	3,595,300	2,365,100	1,699,000
Short-term investments	US$ in thousands	154,800	149,400	140,400	126,100	109,100	113,100	134,600	123,400	144,800	124,700	113,800	109,100	90,100	37,100	51,200	49,000	24,200	35,000	22,800	78,400
Total current liabilities	US$ in thousands	28,376,600	24,674,100	27,121,200	18,598,100	27,293,200	21,998,200	18,915,000	16,010,000	17,138,200	15,652,800	15,620,600	13,386,000	15,052,700	13,682,000	15,093,200	11,714,200	12,481,600	11,976,900	11,988,500	12,610,200
Cash ratio		0.12	0.14	0.12	0.14	0.11	0.11	0.15	0.23	0.13	0.18	0.18	0.19	0.26	0.28	0.22	0.26	0.29	0.30	0.20	0.14

December 31, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($3,268,400K + $154,800K) ÷ $28,376,600K
= 0.12

The cash ratio of Eli Lilly and Company has fluctuated over the periods provided. It was relatively low at around 0.14 to 0.20 in the first half of 2020, indicating that the company had limited cash readily available to cover its short-term obligations. However, the ratio improved in the latter half of 2020 and into 2021, reaching a peak of 0.30 in September 2020, suggesting stronger liquidity position.

Subsequently, the cash ratio dipped back to the mid-0.20s and 0.10s range in the following periods, implying a slight decline in the company's ability to meet its short-term liabilities solely with cash on hand. By the end of 2024, the cash ratio had leveled off around 0.12 to 0.14, indicating that Eli Lilly may need to monitor its liquidity position to ensure it has enough cash to cover its short-term obligations.