Phibro Animal Health Corporation (PAHC)

Quick 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 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
Receivables US$ in thousands 227,983 197,518 191,789 160,777 169,452 161,087 150,627 149,228 163,479 152,740 151,830 142,728 166,537 156,561 142,495 140,644 146,852 135,562 126,026 125,457
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
Quick ratio 1.04 1.01 1.11 1.42 1.39 1.37 1.30 1.39 1.39 1.39 1.37 1.33 1.35 1.33 1.43 1.56 1.46 1.35 1.33 1.35

June 30, 2025 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($68,039K + $9,000K + $227,983K) ÷ $293,473K
= 1.04

The quick ratio of Phibro Animal Health Corporation has demonstrated relative stability over the period from September 2020 to June 2025, with some fluctuations observed. Throughout this interval, the ratio fluctuated narrowly within a range approximately from 1.01 to 1.56.

Initially, as of September 2020, the quick ratio stood at 1.35, indicating that the company possessed 1.35 dollars in liquid assets for every dollar of current liabilities. This value remained stable through December 2020 and March 2021, with negligible variation. A notable increase occurred by June 2021, reaching 1.46, which signified an improved liquidity position, and this upward trend persisted through September 2021 when the ratio peaked at 1.56.

Subsequently, the ratio experienced a modest decline to 1.43 by December 2021 and further decreased to 1.33 in March 2022, aligning with the earlier levels. It then showed slight fluctuations around 1.33 to 1.39, maintaining this range through September 2023, indicating a consistent liquidity cushion.

However, a downward trend became apparent in late 2024, with the ratio decreasing to 1.11 in December 2024, reflecting a reduction in liquid assets relative to current liabilities. This trend persisted into the first quarter of 2025, with a ratio of 1.01, suggesting a tighter liquidity position compared to previous periods but still above the critical threshold of 1.0. In the most recent period (June 2025), the ratio slightly increased to 1.04, indicating a marginal improvement but remaining near historical lows.

Overall, the company's quick ratio has historically been above 1.3, indicating sound liquidity and the capacity to cover short-term liabilities without depending on inventory sales. The recent decline toward just above 1.0 suggests a leaner liquidity position, which warrants monitoring to ensure continued operational flexibility.