Neurocrine Biosciences Inc (NBIX)

Quick 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	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
Receivables	US$ in thousands	439,300	425,900	393,200	396,000	350,000	305,100	281,700	266,500	187,700	166,600	161,200	151,000	160,800	160,400	152,100	153,300	126,575	115,318	95,357	71,964
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
Quick ratio		2.25	2.20	2.35	3.45	2.49	2.28	3.26	3.67	3.66	4.13	4.91	5.39	5.16	1.81	1.92	6.59	1.41	6.79	7.11	8.28

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($251,100K + $780,500K + $439,300K) ÷ $654,800K
= 2.25

The quick ratio of Neurocrine Biosciences, Inc. has shown fluctuation over the past eight quarters, ranging from a low of 2.34 in Q3 2023 to a high of 3.90 in Q1 2022. Overall, the quick ratio has demonstrated a generally healthy trend, indicating the company's ability to meet its short-term financial obligations with its most liquid assets. A quick ratio above 1 suggests that Neurocrine Biosciences is comfortably positioned to cover its short-term liabilities, with Q1 2022 and Q2 2022 showing particularly strong liquidity positions. However, the decreasing trend in Q3 2023 compared to Q2 2023 might warrant further investigation into the company's current asset and liability composition to ensure continued stability in meeting its short-term obligations.