Patterson Companies Inc (PDCO)
Quick ratio
| Apr 27, 2024 | Apr 29, 2023 | Apr 30, 2022 | Apr 24, 2021 | Apr 25, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 114,462 | 159,669 | 142,014 | 143,244 | 77,944 |
| Short-term investments | US$ in thousands | — | 5,875 | 3,875 | — | — |
| Receivables | US$ in thousands | 547,287 | 477,384 | 447,162 | 449,235 | 416,523 |
| Total current liabilities | US$ in thousands | 1,332,550 | 1,085,330 | 1,015,670 | 1,089,670 | 1,074,900 |
| Quick ratio | 0.50 | 0.59 | 0.58 | 0.54 | 0.46 |
April 27, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($114,462K
+ $—K
+ $547,287K)
÷ $1,332,550K
= 0.50
The quick ratio of Patterson Companies Inc has shown some variability over the past five years. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term liabilities.
In the most recent fiscal year, as of April 27, 2024, the quick ratio stands at 0.50, which means that for every dollar of current liabilities, the company has $0.50 of quick assets available to cover them. This implies a lower level of liquidity compared to the previous year, where the quick ratio was 0.59 as of April 29, 2023.
Despite the decline in the quick ratio in the latest fiscal year, the company has shown some consistency in maintaining a quick ratio above 0.50 over the past five years. This indicates that Patterson Companies Inc has generally managed to maintain a level of liquidity that allows it to meet its short-term obligations.
However, it is essential for investors and stakeholders to monitor the trend of the quick ratio over time to ensure the company's liquidity position remains stable and adequate to meet its short-term financial obligations.
Peer comparison
Apr 27, 2024