Myriad Genetics Inc (MYGN)
Cash ratio
| 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 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 92,400 | 96,900 | 132,100 | 76,000 | 102,800 | 53,600 | 56,900 | 108,700 | 104,200 | 164,200 | 257,400 | 295,200 | 118,400 | 148,900 | 118,300 | 163,700 | 121,000 | 81,200 | 89,900 | 93,200 |
| Short-term investments | US$ in thousands | 4,900 | 7,400 | 8,800 | 10,300 | 18,800 | 25,100 | 112,800 | 82,500 | 99,900 | 103,200 | 141,400 | 70,900 | 46,000 | 27,200 | 42,100 | 54,100 | 60,500 | 60,400 | 52,700 | 43,700 |
| Total current liabilities | US$ in thousands | 148,900 | 146,100 | 155,900 | 209,300 | 221,100 | 143,300 | 137,200 | 129,100 | 119,700 | 166,000 | 204,300 | 203,200 | 271,000 | 149,000 | 133,700 | 147,000 | 113,200 | 112,400 | 115,400 | 117,800 |
| Cash ratio | 0.65 | 0.71 | 0.90 | 0.41 | 0.55 | 0.55 | 1.24 | 1.48 | 1.71 | 1.61 | 1.95 | 1.80 | 0.61 | 1.18 | 1.20 | 1.48 | 1.60 | 1.26 | 1.24 | 1.16 |
June 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($92,400K
+ $4,900K)
÷ $148,900K
= 0.65
The cash ratio of Myriad Genetics Inc has shown fluctuations over the past few quarters. The cash ratio measures the company's ability to cover its short-term obligations with its available cash and cash equivalents.
From September 2019 to September 2020, the cash ratio had been consistently above 1, indicating that the company had more than enough cash to cover its short-term liabilities during this period. However, there was a decline in the cash ratio in the first quarter of 2021, dropping to 0.61, which might have indicated a tighter liquidity position during that period.
There was a significant improvement in the cash ratio in the second half of 2021, reaching 1.95 by December 2021. This suggests that the company had substantially increased its cash reserves relative to its short-term obligations.
The cash ratio slightly decreased in the first half of 2022 but remained above 1. This indicates that the company still had a strong ability to meet its short-term liabilities with its cash holdings during this period.
In the most recent quarter, the cash ratio was at 0.65, which is a decrease from the previous quarter. Although the cash ratio is above 0.5, which is a general benchmark for liquidity, the decrease suggests that the company may have lower cash reserves relative to its short-term obligations compared to the previous quarter.
Overall, the company's cash ratio has displayed fluctuations over the analyzed periods, indicating varying levels of liquidity throughout the quarters. It is important for the company to closely monitor its cash position to ensure it can meet its short-term financial commitments.
Peer comparison
Jun 30, 2024