Myriad Genetics Inc (MYGN)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Jun 30, 2020 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 132,100 | 56,900 | 257,400 | 163,700 | 93,200 |
| Short-term investments | US$ in thousands | 8,800 | 112,800 | 141,400 | 54,100 | 43,700 |
| Receivables | US$ in thousands | 114,300 | 101,600 | 91,300 | 71,000 | 138,600 |
| Total current liabilities | US$ in thousands | 155,900 | 137,200 | 204,300 | 147,000 | 117,800 |
| Quick ratio | 1.64 | 1.98 | 2.40 | 1.96 | 2.34 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($132,100K
+ $8,800K
+ $114,300K)
÷ $155,900K
= 1.64
The quick ratio of Myriad Genetics, Inc. has shown some fluctuation over the past five years. The company's quick ratio stood at 1.87 as of December 31, 2023, which indicates that the company has $1.87 in liquid assets available to cover each dollar of its current liabilities. This suggests that the company has a relatively healthy liquidity position as it has sufficient liquid assets to meet its short-term obligations.
Comparing this to previous years, we see that the quick ratio was relatively stable between 1.85 and 2.30 from 2019 to 2022, indicating that the company consistently maintained a strong ability to cover its short-term liabilities with liquid assets during those periods.
It is worth noting that the quick ratio dipped to 2.06 as of June 30, 2020, which may have been an indication of a temporary decrease in liquidity, potentially due to specific operational or economic factors during that time.
Overall, Myriad Genetics, Inc. has generally demonstrated good liquidity management over the past five years, with the quick ratio consistently above 1. This suggests that the company has been able to effectively meet its short-term obligations and indicates a healthy financial position in terms of liquidity.
Peer comparison
Dec 31, 2023