Neurocrine Biosciences Inc (NBIX)

Cash ratio

		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	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cash and cash equivalents	US$ in thousands	251,100	293,700	160,200	103,800	262,900	212,200	163,300	270,200	340,800	311,100	368,000	352,600	187,100	425,300	415,100	187,000	112,300	166,637	140,985	72,778
Short-term investments	US$ in thousands	780,500	801,400	816,500	790,800	726,400	587,200	485,000	394,700	370,500	454,800	516,900	521,100	613,900	519,400	533,200	584,700	558,245	503,525	478,993	451,290
Total current liabilities	US$ in thousands	654,800	691,600	582,500	374,100	537,700	485,100	285,700	253,500	245,800	225,900	212,900	190,000	186,500	611,000	573,000	140,300	565,300	115,652	100,589	72,003
Cash ratio		1.58	1.58	1.68	2.39	1.84	1.65	2.27	2.62	2.89	3.39	4.16	4.60	4.29	1.55	1.65	5.50	1.19	5.79	6.16	7.28

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($251,100K + $780,500K) ÷ $654,800K
= 1.58

The cash ratio of Neurocrine Biosciences, Inc. has shown fluctuation over the past eight quarters. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to cover short-term obligations.

In Q1 2022, the cash ratio was at its highest at 2.86, indicating a strong ability to cover short-term liabilities with available cash. However, the ratio decreased in subsequent quarters, reaching its lowest point of 1.72 in Q4 2023.

Although the cash ratio has been fluctuating, it has generally remained above 1.5 in most quarters, indicating that Neurocrine Biosciences, Inc. has had sufficient cash on hand to cover its short-term obligations. It would be important to continue monitoring the cash ratio in future quarters to ensure the company maintains a healthy liquidity position.