Progress Software Corporation (PRGS)

Quick ratio

		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	Nov 30, 2019	Aug 31, 2019	May 31, 2019
Cash	US$ in thousands	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	154,259	124,020	103,249
Short-term investments	US$ in thousands	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	19,426	21,377	25,304
Receivables	US$ in thousands	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	72,820	63,617	52,040
Total current liabilities	US$ in thousands	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	240,885	215,332	204,199
Quick ratio		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	1.02	0.97	0.88

February 29, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($133,222K + $5,350K + $88,811K) ÷ $312,208K
= 0.73

The quick ratio of Progress Software Corporation has shown fluctuations over the past few quarters. The quick ratio provides insight into the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term obligations.

In the most recent period, as of February 29, 2024, the quick ratio was 0.73, which indicates that Progress Software Corporation may have some challenges in meeting its short-term liabilities with its readily available assets. However, it has been relatively stable over the previous quarters, ranging from 0.64 to 0.73.

It is important for investors and stakeholders to monitor the trend of the quick ratio over time to assess the company's liquidity position and its ability to weather any potential short-term financial challenges. Further analysis of the company's current assets and liabilities composition may provide additional insights into the factors driving the fluctuations in the quick ratio.