Myriad Genetics Inc (MYGN)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 293,200 | 291,600 | 290,300 | 313,600 | 265,400 | 294,300 | 261,600 | 274,600 | 352,300 | 367,100 | 427,400 | 484,800 | 498,900 | 538,900 | 329,200 | 394,500 | 331,700 | 355,200 | 365,300 | 329,500 |
| 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 |
| Current ratio | 1.90 | 1.96 | 1.99 | 2.01 | 1.27 | 1.33 | 1.83 | 2.00 | 2.73 | 3.07 | 2.57 | 2.37 | 2.46 | 1.99 | 2.21 | 2.95 | 2.26 | 3.14 | 3.25 | 2.86 |
September 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $293,200K ÷ $154,300K
= 1.90
The current ratio of Myriad Genetics Inc has fluctuated over the past few quarters. As of September 30, 2024, the current ratio stands at 1.90, indicating that the company has $1.90 in current assets for every $1 of current liabilities. This ratio has slightly decreased from the previous quarter's ratio of 1.96, but remains within a reasonable range.
Looking back over the past few years, the current ratio has shown variability with highs in the range of 2.95 to 3.25 and lows around 1.27 to 1.33. The current ratio peaked at 3.25 in June 2022 and hit a low of 1.27 in September 2023.
A current ratio above 1 suggests that Myriad Genetics Inc has more than enough current assets to cover its current liabilities, which is positive for short-term liquidity. It is important to monitor the trend of the current ratio over time to ensure the company has the ability to meet its short-term obligations. It may be worthwhile for stakeholders to further investigate the factors contributing to the fluctuations in the current ratio to assess the company's overall liquidity position.
Peer comparison
Sep 30, 2024