Myriad Genetics Inc (MYGN)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 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 | 348,600 |
| 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 |
| Current ratio | 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 | 2.96 |
June 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $291,600K ÷ $148,900K
= 1.96
The current ratio of Myriad Genetics Inc has exhibited some fluctuations over the past several quarters. The ratio indicates the company's ability to cover its short-term liabilities with its short-term assets.
From the data provided, we can see that the current ratio has generally been above 2 in recent years, suggesting that the company has had a solid ability to meet its short-term obligations with its current assets. However, fluctuations in the current ratio can indicate changes in the company's liquidity position over time.
The current ratio was relatively stable and above 2 from the end of 2019 to the first half of 2022, indicating a strong liquidity position during that period. However, there was a notable decrease in the current ratio in the latter half of 2022 and throughout 2023, dropping to as low as 1.27 in September 2023. This decline could indicate potential challenges in meeting short-term obligations with current assets during that period.
The current ratio rebounded in early 2024, reaching above 1.99 by the end of March 2024. This improvement suggests that the company may have enhanced its liquidity position and is better positioned to cover its short-term liabilities with current assets.
Overall, while Myriad Genetics Inc's current ratio has experienced fluctuations, it has generally remained above 2 in recent quarters, indicating a reasonable ability to meet short-term obligations with current assets. However, investors and stakeholders should continue to monitor changes in the current ratio to assess the company's ongoing liquidity and financial health.
Peer comparison
Jun 30, 2024