Patterson Companies Inc (PDCO)
Cash ratio
| Apr 27, 2024 | Apr 29, 2023 | Apr 30, 2022 | Apr 24, 2021 | Apr 25, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 114,462 | 159,669 | 142,014 | 143,244 | 77,944 |
| Short-term investments | US$ in thousands | — | 5,875 | 3,875 | — | — |
| Total current liabilities | US$ in thousands | 1,332,550 | 1,085,330 | 1,015,670 | 1,089,670 | 1,074,900 |
| Cash ratio | 0.09 | 0.15 | 0.14 | 0.13 | 0.07 |
April 27, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($114,462K
+ $—K)
÷ $1,332,550K
= 0.09
The cash ratio of Patterson Companies Inc has fluctuated over the past five years. The trend indicates a consistency in maintaining a level of cash sufficient to cover short-term liabilities. The cash ratio is a measure of a company's ability to cover its current liabilities with its cash and cash equivalents. A higher cash ratio suggests a stronger ability to meet short-term obligations.
In April 2024, the cash ratio is 0.09, which is lower than the previous year but still above the ratio from two years prior. This could indicate a decrease in the company's liquid assets relative to its current liabilities compared to the previous year.
Overall, Patterson Companies Inc has maintained a cash ratio above 0.1 in the past five years, indicating a relatively healthy liquidity position. However, it is important for the company to monitor its cash levels to ensure they are adequate to meet its short-term obligations.
Peer comparison
Apr 27, 2024