Qorvo Inc (QRVO)

Quick ratio

		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	Jun 30, 2019
Cash	US$ in thousands	1,029,260	1,071,990	706,836	744,428	808,757	918,758	911,570	858,791	972,592	988,527	1,153,170	1,200,240	1,397,880	1,234,420	2,000,260	1,136,300	714,939	1,097,720	586,794	629,599
Short-term investments	US$ in thousands	—	—	—	—	1,094	—	—	—	—	—	—	—	—	0	37,848	36,921	—	—	—	—
Receivables	US$ in thousands	427,387	514,665	620,626	327,241	331,054	398,468	—	—	601,001	—	—	—	457,431	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	1,230,090	1,280,330	671,942	638,976	555,763	613,590	764,127	718,450	675,127	673,427	902,495	703,708	681,581	613,898	1,477,020	509,332	539,003	491,205	449,629	452,146
Quick ratio		1.18	1.24	1.98	1.68	2.05	2.15	1.19	1.20	2.33	1.47	1.28	1.71	2.72	2.01	1.38	2.30	1.33	2.23	1.31	1.39

March 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,029,260K + $—K + $427,387K) ÷ $1,230,090K
= 1.18

The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that a company has more than enough liquid assets to cover its short-term liabilities.

Based on the historical data provided, Qorvo Inc's quick ratio has fluctuated over time, ranging from a low of 1.18 to a high of 2.72. In general, the company's quick ratio has been consistently above 1, indicating a strong ability to meet its short-term obligations with its current assets.

The latest quick ratio of 1.18 as of March 31, 2024, suggests that Qorvo Inc may have slightly fewer liquid assets relative to its short-term liabilities compared to previous periods. However, it is important to consider industry norms and the company's specific circumstances when interpreting this ratio.

Overall, Qorvo Inc's historical quick ratios demonstrate a generally healthy liquidity position, which is a positive indicator of its financial stability and ability to manage short-term financial obligations effectively.