Qualcomm Incorporated (QCOM)
Quick ratio
| Sep 30, 2024 | Jun 23, 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 7,849,000 | 7,770,000 | 9,219,000 | 8,133,000 | 8,450,000 | 6,087,000 | 3,488,000 | 4,808,000 | 2,773,000 | 2,676,000 | 7,173,000 | 6,607,000 | 7,116,000 | 7,399,000 | 6,000,000 | 7,076,000 | 6,707,000 | 6,120,000 | 8,403,000 | 11,109,000 |
| Short-term investments | US$ in thousands | 5,451,000 | 5,262,000 | 4,632,000 | 3,921,000 | 2,874,000 | 2,544,000 | 3,188,000 | 6,721,000 | 7,054,000 | 8,098,000 | 8,342,000 | 8,706,000 | 9,914,000 | 5,508,000 | 5,526,000 | 5,222,000 | 4,507,000 | 4,480,000 | 1,543,000 | 314,000 |
| Receivables | US$ in thousands | 2,383,000 | — | — | — | 1,960,000 | — | — | — | 4,208,000 | — | — | — | 2,225,000 | — | — | — | 2,698,000 | 940,000 | — | — |
| Total current liabilities | US$ in thousands | 10,504,000 | 9,747,000 | 9,143,000 | 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 |
| Quick ratio | 1.49 | 1.34 | 1.51 | 1.31 | 1.38 | 1.02 | 0.85 | 1.14 | 1.18 | 0.91 | 1.16 | 1.25 | 1.61 | 1.13 | 1.27 | 1.33 | 1.60 | 1.46 | 1.02 | 1.24 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($7,849,000K
+ $5,451,000K
+ $2,383,000K)
÷ $10,504,000K
= 1.49
The quick ratio, also known as the acid-test ratio, provides insight into a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that a company can cover its current liabilities with its quick assets. Qualcomm Incorporated's quick ratio has fluctuated over the past few quarters, ranging from 0.85 to 1.61.
In the most recent quarter, as of September 30, 2024, Qualcomm's quick ratio stood at 1.49, indicating a healthy liquidity position. This suggests that Qualcomm has $1.49 in liquid assets available to cover each dollar of its current liabilities.
Overall, Qualcomm's quick ratio has generally been above 1 in the recent quarters, indicating that the company has been able to meet its short-term obligations using its quick assets. Investors and creditors may view this positively as it shows Qualcomm's ability to handle its short-term financial obligations.
Peer comparison
Sep 30, 2024