Myriad Genetics Inc (MYGN)
Quick ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 102,400 | 132,100 | 56,900 | 258,400 | 117,000 |
| Short-term investments | US$ in thousands | 0 | 8,800 | 58,000 | 81,400 | 33,700 |
| Receivables | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 164,100 | 155,900 | 137,200 | 204,300 | 145,900 |
| Quick ratio | 0.62 | 0.90 | 0.84 | 1.66 | 1.03 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($102,400K
+ $0K
+ $—K)
÷ $164,100K
= 0.62
The quick ratio of Myriad Genetics Inc has fluctuated over the years based on the data provided. As of December 31, 2020, the quick ratio was at 1.03, indicating that the company had just enough liquid assets to cover its current liabilities. By December 31, 2021, the quick ratio improved significantly to 1.66, suggesting a stronger position in meeting short-term obligations without relying heavily on inventory.
However, there was a notable decrease in the quick ratio by December 31, 2022, falling to 0.84. This decline may raise concerns about the company's ability to meet its short-term financial obligations efficiently using its most liquid assets. The ratio slightly improved by December 31, 2023, reaching 0.90, but remained below the ideal threshold of 1.
By the end of December 31, 2024, the quick ratio decreased further to 0.62, indicating a potential liquidity challenge for Myriad Genetics Inc. This trend may signal a need for the company to manage its current assets more effectively to ensure it can cover its current liabilities without facing liquidity issues.
Overall, the fluctuating quick ratio of Myriad Genetics Inc in the given period suggests varying levels of liquidity and highlights the importance of monitoring and managing liquidity effectively to ensure the company's financial health.
Peer comparison
Dec 31, 2024