Perrigo Company PLC (PRGO)

Cash ratio

		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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Cash and cash equivalents	US$ in thousands	542,800	658,500	751,300	598,300	555,200	553,000	600,700	468,700	485,300	1,965,500	1,864,900	2,078,100	317,500	470,900	631,500	849,400	1,456,300	510,400	354,300	398,500
Short-term investments	US$ in thousands	—	—	100	100	—	100	100	200	300	200	400	1,500	1,600	2,900	2,500	3,300	4,100	3,700	6,600	2,600
Total current liabilities	US$ in thousands	1,488,100	1,554,500	1,586,300	1,008,400	1,056,900	1,086,800	1,113,600	1,015,000	1,014,600	981,300	1,587,900	2,003,800	1,984,500	1,446,800	1,382,000	1,336,300	1,859,700	1,635,000	1,335,800	1,324,700
Cash ratio		0.36	0.42	0.47	0.59	0.53	0.51	0.54	0.46	0.48	2.00	1.17	1.04	0.16	0.33	0.46	0.64	0.79	0.31	0.27	0.30

June 30, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($542,800K + $—K) ÷ $1,488,100K
= 0.36

The cash ratio of Perrigo Company PLC has shown fluctuations over the past several quarters, indicating the company's ability to cover its short-term liabilities with its readily available cash and cash equivalents.

The trend shows that the cash ratio has experienced significant variability, ranging from a low of 0.16 in March 2021 to a high of 2.00 in March 2022. Such fluctuations could suggest changes in the company's cash management practices, liquidity position, or profitability.

In general, a higher cash ratio indicates a stronger ability to cover short-term obligations with cash on hand, while a lower ratio may imply potential liquidity challenges. It is crucial for investors and stakeholders to monitor the cash ratio over time to assess Perrigo Company PLC's liquidity position and financial health.