Myriad Genetics Inc (MYGN)
Quick 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 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 | 93,200 |
| Short-term investments | US$ in thousands | 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 | 43,700 |
| Receivables | US$ in thousands | 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 | 138,600 |
| 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 |
| Quick ratio | 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 | 2.34 |
June 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($92,400K
+ $4,900K
+ $117,800K)
÷ $148,900K
= 1.44
The quick ratio of Myriad Genetics Inc has shown some fluctuations over the past several quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets.
We observe that the quick ratio has generally been above 1, indicating that Myriad Genetics Inc has been able to cover its current liabilities with its quick assets. A quick ratio above 1 is typically seen as a positive sign, suggesting the company has a strong liquidity position.
There are some quarters where the quick ratio dropped below 1, such as in September 2023 and December 2021. This could indicate potential liquidity concerns during those periods, where the company may have had difficulty meeting its short-term obligations with its quick assets alone.
Overall, the trend shows that Myriad Genetics Inc has maintained a healthy quick ratio in most quarters, indicating a strong ability to meet its short-term financial obligations. It is important for the company to continue monitoring and managing its liquidity effectively to ensure financial stability.
Peer comparison
Jun 30, 2024