Phibro Animal Health Corporation (PAHC)
Cash ratio
Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | 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 | Dec 31, 2020 | Sep 30, 2020 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash and cash equivalents | US$ in thousands | 68,039 | 60,354 | 67,074 | 51,837 | 70,613 | 50,225 | 32,970 | 43,153 | 41,281 | 37,238 | 68,422 | 76,280 | 74,248 | 70,748 | 63,385 | 41,175 | 50,212 | 49,103 | 34,534 | 30,969 |
Short-term investments | US$ in thousands | 9,000 | 10,000 | 0 | 38,000 | 44,000 | 48,523 | 59,523 | 48,000 | 40,000 | 40,000 | 10,000 | 10,000 | 17,000 | 22,100 | 32,100 | 56,000 | 43,000 | 44,000 | 61,000 | 61,000 |
Total current liabilities | US$ in thousands | 293,473 | 266,481 | 233,250 | 176,894 | 204,148 | 189,072 | 187,735 | 172,355 | 176,000 | 165,308 | 167,569 | 172,499 | 190,832 | 187,102 | 166,628 | 152,586 | 164,116 | 168,891 | 166,903 | 160,952 |
Cash ratio | 0.26 | 0.26 | 0.29 | 0.51 | 0.56 | 0.52 | 0.49 | 0.53 | 0.46 | 0.47 | 0.47 | 0.50 | 0.48 | 0.50 | 0.57 | 0.64 | 0.57 | 0.55 | 0.57 | 0.57 |
June 30, 2025 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($68,039K
+ $9,000K)
÷ $293,473K
= 0.26
The cash ratio of Phibro Animal Health Corporation demonstrates a relatively stable yet gradually declining trend over the analyzed period from September 2020 through March 2025. Starting at 0.57 in September and December 2020, the ratio remains consistent through September 2021, reaching a peak of 0.64 in September 2021. Subsequently, the ratio exhibits a mild downward trajectory, declining to approximately 0.50 by March 2022 and reaching around 0.46 in June 2023. Throughout this period, the ratio maintains some minor fluctuations but sustains a generally steady level indicative of the company's liquidity position.
In the latter part of the timeframe, from December 2023 to June 2024, the cash ratio exhibits initial stability, slightly increasing to 0.56, then reducing modestly to 0.51 by September 2024. A significant decline is observed afterward, with the ratio dropping sharply to 0.29 by December 2024, and further decreasing to 0.26 in March and June 2025. This marked reduction indicates a substantial decrease in the proportion of cash and cash equivalents relative to current liabilities, potentially reflecting a change in liquidity management or an increase in current liabilities.
Overall, the company's cash ratio has remained within a relatively narrow range of approximately 0.26 to 0.64 throughout the period. The persistent decline in recent years signifies a reduction in liquidity buffer, which may warrant further analysis to understand underlying operational or strategic causes, considering the implications for short-term financial stability.
Peer comparison
Jun 30, 2025