Myriad Genetics Inc (MYGN)
Quick 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 99,900 | 92,400 | 96,900 | 132,100 | 76,000 | 102,800 | 53,600 | 56,900 | 108,700 | 104,200 | 164,200 | 257,400 | 295,200 | 118,400 | 148,900 | 118,300 | 163,700 | 121,000 | 81,200 | 89,900 |
| Short-term investments | US$ in thousands | 0 | 4,900 | 7,400 | 8,800 | 10,300 | 18,800 | 25,100 | 112,800 | 82,500 | 99,900 | 103,200 | 141,400 | 70,900 | 46,000 | 27,200 | 42,100 | 54,100 | 60,500 | 60,400 | 52,700 |
| Receivables | US$ in thousands | 125,700 | 117,800 | 118,100 | 114,300 | 115,200 | 111,700 | 119,100 | 101,600 | 102,200 | 109,800 | 101,700 | 91,300 | 93,600 | 94,800 | 96,500 | 87,100 | 71,000 | 105,000 | 121,800 | 121,800 |
| 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 |
| Quick ratio | 1.46 | 1.44 | 1.52 | 1.64 | 0.96 | 1.06 | 1.38 | 1.98 | 2.27 | 2.62 | 2.22 | 2.40 | 2.26 | 0.96 | 1.83 | 1.85 | 1.96 | 2.53 | 2.34 | 2.29 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($99,900K
+ $0K
+ $125,700K)
÷ $154,300K
= 1.46
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that a company has sufficient liquid assets to cover its current liabilities.
The quick ratio of Myriad Genetics Inc has shown some fluctuations over the last few quarters. In the most recent quarter ending September 30, 2024, the quick ratio was 1.46, indicating that the company had $1.46 of liquid assets available to cover each dollar of current liabilities. This is an improvement from the previous quarter where the quick ratio was 1.44.
Looking further back, the quick ratio has generally been above 1 over the past two years, indicating that Myriad Genetics Inc has had a strong ability to meet its short-term obligations with its liquid assets. The highest quick ratio in recent quarters was seen in December 2022 at 1.98, suggesting a particularly strong liquidity position at that time.
However, there was a notable decrease in the quick ratio in the quarter ending September 30, 2023, where it dropped to 0.96. This could raise some concerns about the company's ability to cover its short-term obligations with its readily available assets.
Overall, it is important for investors and stakeholders to monitor Myriad Genetics Inc's quick ratio over time to ensure that the company maintains a healthy level of liquidity to meet its short-term financial obligations.
Peer comparison
Sep 30, 2024