Qualcomm Incorporated (QCOM)
Current ratio
| 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 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 23,439,000 | 22,464,000 | 20,476,000 | 19,073,000 | 21,098,000 | 20,724,000 | 18,999,000 | 21,610,000 | 20,222,000 | 20,075,000 | 19,693,000 | 18,299,000 | 19,792,000 | 18,519,000 | 15,558,000 | 15,313,000 | 16,205,000 | 16,765,000 | 19,204,000 | 16,324,000 |
| Total current liabilities | US$ in thousands | 9,169,000 | 9,628,000 | 8,463,000 | 7,866,000 | 10,081,000 | 11,866,000 | 11,829,000 | 13,432,000 | 12,273,000 | 11,951,000 | 11,460,000 | 9,070,000 | 9,223,000 | 8,672,000 | 7,914,000 | 9,774,000 | 9,194,000 | 8,935,000 | 10,853,000 | 10,517,000 |
| Current ratio | 2.56 | 2.33 | 2.42 | 2.42 | 2.09 | 1.75 | 1.61 | 1.61 | 1.65 | 1.68 | 1.72 | 2.02 | 2.15 | 2.14 | 1.97 | 1.57 | 1.76 | 1.88 | 1.77 | 1.55 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $23,439,000K ÷ $9,169,000K
= 2.56
The current ratio of Qualcomm Incorporated has shown varying trends over the past few quarters. As of December 31, 2023, the current ratio stood at 2.56, indicating the company had $2.56 in current assets for every $1 in current liabilities. This suggests that Qualcomm had a strong ability to cover its short-term obligations at that point in time.
The current ratio had been relatively stable in the range of 1.61 to 1.77 from March 31, 2022, to September 30, 2023. However, there was a notable increase in the current ratio in the most recent quarter, reaching its highest level of 2.56.
A higher current ratio is generally considered positive as it signifies a stronger liquidity position. Qualcomm's increasing current ratio trend from 1.55 in December 2019 to 2.56 in December 2023 indicates an improved ability to meet its short-term financial obligations while also having excess current assets for potential investments or expansion.
Overall, based on the current ratio trend, Qualcomm has been managing its current assets and liabilities effectively, indicating a healthy liquidity position in recent quarters.
Peer comparison
Dec 31, 2023