Patterson Companies Inc (PDCO)
Quick ratio
| Apr 27, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | Apr 24, 2021 | Jan 23, 2021 | Oct 24, 2020 | Jul 25, 2020 | Apr 25, 2020 | Jan 25, 2020 | Oct 26, 2019 | Jul 27, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 114,462 | 123,998 | 113,886 | 108,573 | 159,669 | 147,290 | 140,280 | 149,560 | 142,014 | 165,044 | 154,152 | 136,930 | 143,244 | 155,961 | 139,481 | 119,561 | 77,944 | 106,169 | 129,575 | 109,781 |
| Short-term investments | US$ in thousands | — | 4,933 | 6,789 | 7,081 | 5,875 | 6,648 | 7,863 | 3,669 | 3,875 | 1,355 | 726 | 208 | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 547,287 | 484,530 | 490,428 | 408,929 | 477,384 | 422,715 | 454,649 | 370,347 | 447,162 | 467,111 | 481,844 | 373,533 | 449,235 | 456,138 | 491,687 | 372,317 | 416,523 | 451,255 | 581,288 | 502,662 |
| Total current liabilities | US$ in thousands | 1,332,550 | 1,283,710 | 1,148,540 | 1,087,750 | 1,085,330 | 1,173,710 | 1,143,820 | 1,043,560 | 1,015,670 | 1,132,100 | 1,193,050 | 1,067,880 | 1,089,670 | 1,200,890 | 1,072,890 | 978,784 | 1,074,900 | 1,201,460 | 1,061,430 | 874,227 |
| Quick ratio | 0.50 | 0.48 | 0.53 | 0.48 | 0.59 | 0.49 | 0.53 | 0.50 | 0.58 | 0.56 | 0.53 | 0.48 | 0.54 | 0.51 | 0.59 | 0.50 | 0.46 | 0.46 | 0.67 | 0.70 |
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 over the past several quarters has shown some fluctuations, ranging from 0.46 to 0.70. Generally, a quick ratio of 1 or higher is considered healthy, as it indicates that the company can cover its short-term liabilities with its most liquid assets.
Looking at the data provided, the quick ratio has been hovering around 0.50 to 0.60 for the most part, indicating that the company may face challenges in meeting its short-term obligations with its readily available assets. However, there are some quarters where the quick ratio has been higher, reaching 0.70, suggesting improved liquidity position.
It is essential for Patterson Companies Inc to closely monitor its quick ratio over time to ensure that it maintains sufficient liquidity to meet its short-term financial commitments and operational needs. Additionally, management should explore ways to improve the efficiency of its current assets to strengthen its liquidity position.
Peer comparison
Apr 27, 2024