Myriad Genetics Inc (MYGN)
Cash ratio
| 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 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 99,900 | 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 |
| Short-term investments | US$ in thousands | 0 | 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 |
| Total current liabilities | US$ in thousands | 154,300 | 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 |
| Cash ratio | 0.65 | 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 |
September 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($99,900K
+ $0K)
÷ $154,300K
= 0.65
The cash ratio of Myriad Genetics Inc has shown fluctuations over the past few quarters. The cash ratio represents the company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to cover short-term obligations.
Looking at the data provided, we see that the cash ratio has varied between 0.41 to 1.95 over the recent quarters. The cash ratio was relatively low at 0.41 in September 2023 but gradually increased to 0.90 by December 2023. This suggests an improvement in the company's ability to cover its short-term liabilities with cash during this period.
However, the cash ratio decreased again in the following quarters, reaching a low of 0.55 in March 2024, before increasing to 0.71 in June 2024. The cash ratio then remained stable at 0.65 for the most recent quarter, September 2024.
Overall, the trend in the cash ratio indicates some fluctuations in Myriad Genetics Inc's ability to cover its short-term obligations with cash over the past few quarters. It is essential for investors and stakeholders to monitor this ratio closely to assess the company's liquidity position and its ability to meet its short-term financial obligations.
Peer comparison
Sep 30, 2024