Myriad Genetics Inc (MYGN)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Jun 30, 2020 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 313,600 | 274,600 | 484,800 | 331,700 | 348,600 |
| Total current liabilities | US$ in thousands | 155,900 | 137,200 | 204,300 | 147,000 | 117,800 |
| Current ratio | 2.01 | 2.00 | 2.37 | 2.26 | 2.96 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $313,600K ÷ $155,900K
= 2.01
The current ratio of Myriad Genetics, Inc. has shown some fluctuations over the past five years. As of December 31, 2023, the current ratio stands at 2.01, which indicates that the company's current assets are double its current liabilities, providing a comfortable cushion to meet short-term obligations.
Compared to the previous year, there was a marginal increase in the current ratio from 2.00 to 2.01, suggesting a slightly stronger liquidity position in the most recent period. However, it is interesting to note that there was a noticeable decrease in the current ratio from 2.37 in 2021 to 2.00 in 2022, which could potentially indicate a shift in the company's liquidity management or changes in its current asset and liability composition.
The current ratio of Myriad Genetics, Inc. has generally remained above 2 in the past five years, reflecting a healthy liquidity position overall. The highest current ratio of 2.96 in June 30, 2019, indicates a significant liquidity surplus at that time, although it has since decreased.
Overall, while the current ratio provides a snapshot of the company's short-term liquidity and ability to cover immediate obligations, it is crucial to consider additional financial metrics and contextual factors to gain a comprehensive understanding of Myriad Genetics, Inc.'s financial health and performance.
Peer comparison
Dec 31, 2023