Progress Software Corporation (PRGS)
Quick ratio
| Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 118,077 | 232,713 | 190,420 | 133,222 | 126,958 | 137,999 | 125,531 | 107,981 | 256,277 | 224,115 | 224,863 | 171,666 | 155,406 | 379,895 | 357,360 | 107,698 | 97,990 | 220,575 | 193,222 | 161,094 |
| Short-term investments | US$ in thousands | — | 75,814 | — | 5,350 | — | 110 | — | 14,944 | 0 | 749 | 1,050 | 1,656 | 1,967 | 3,782 | 5,300 | 6,673 | 8,005 | 9,544 | 10,423 | 15,961 |
| Receivables | US$ in thousands | 163,575 | 87,680 | 82,354 | 88,811 | 125,825 | 99,726 | 87,183 | 93,347 | 97,834 | 82,258 | 64,733 | 86,601 | 99,815 | 77,031 | 64,045 | 77,573 | 84,040 | 60,463 | 54,527 | 62,184 |
| Total current liabilities | US$ in thousands | 455,145 | 314,908 | 307,221 | 312,208 | 352,118 | 324,703 | 323,494 | 337,157 | 318,004 | 279,683 | 284,229 | 283,730 | 322,929 | 271,608 | 266,077 | 265,740 | 262,543 | 227,691 | 225,172 | 230,722 |
| Quick ratio | 0.62 | 1.26 | 0.89 | 0.73 | 0.72 | 0.73 | 0.66 | 0.64 | 1.11 | 1.10 | 1.02 | 0.92 | 0.80 | 1.70 | 1.60 | 0.72 | 0.72 | 1.28 | 1.15 | 1.04 |
November 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($118,077K
+ $—K
+ $163,575K)
÷ $455,145K
= 0.62
Progress Software Corporation's Quick ratio fluctuated over the analyzed periods. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.
From the data provided:
- The quick ratio ranged from a low of 0.64 on February 28, 2023, to a high of 1.70 on August 31, 2021.
- The quick ratio was mostly above 1, indicating a healthy liquidity position, with a few exceptions where it fell below 1.
- Notable drops in the quick ratio were observed on November 30, 2020 (0.72) and February 28, 2021 (0.72), suggesting a potential strain on the company's ability to meet short-term obligations.
- The quick ratio improved in the most recent periods, with a ratio of 1.26 on August 31, 2024, indicating an enhanced ability to cover current liabilities with liquid assets.
Overall, consistent monitoring of the Quick ratio is crucial to assess Progress Software Corporation's short-term liquidity position and its ability to manage upcoming financial demands effectively.
Peer comparison
Nov 30, 2024