ResMed Inc (RMD)

Quick ratio

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 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
Cash	US$ in thousands	1,209,450	932,711	521,944	426,361	238,361	237,910	210,247	209,100	227,891	227,894	253,199	207,163	273,710	201,769	194,476	276,149	295,278	230,635	255,865	421,414
Short-term investments	US$ in thousands	—	12,131	—	—	12,026	21,537	7,617	11,821	12,423	12,115	4,980	—	9,167	17,842	19,566	33,138	—	24,011	—	2,020
Receivables	US$ in thousands	939,492	939,516	959,753	811,198	837,275	779,265	729,740	692,388	704,909	686,264	672,271	620,483	575,950	508,580	526,036	575,554	614,292	525,014	509,364	464,892
Total current liabilities	US$ in thousands	1,019,120	940,516	851,960	904,079	910,655	773,030	764,073	770,802	758,533	761,691	732,714	692,659	689,299	667,265	621,064	624,158	911,766	876,541	577,335	590,853
Quick ratio		2.11	2.00	1.74	1.37	1.19	1.34	1.24	1.18	1.25	1.22	1.27	1.19	1.25	1.09	1.19	1.42	1.00	0.89	1.33	1.50

June 30, 2025 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,209,450K + $—K + $939,492K) ÷ $1,019,120K
= 2.11

The quick ratio of ResMed Inc. demonstrates notable fluctuations over the analyzed period, reflecting shifts in the company’s liquidity position. At the beginning of the period, the ratio stood at 1.50 as of September 30, 2020, indicating that the company had $1.50 in liquid assets (excluding inventories) for every dollar of current liabilities. This suggests a comfortable liquidity buffer at that time.

Over the subsequent quarters, the ratio experienced a decline, reaching a low of 0.89 as of March 31, 2021. This decline hints at a relative decrease in liquid assets compared to short-term obligations, potentially indicating tighter liquidity conditions. The ratio recovered thereafter, returning to 1.42 by September 30, 2021, which points to an improved liquidity position.

From late 2021 into mid-2022, the quick ratio stabilized around the 1.19 to 1.25 range, reflecting a moderate level of liquidity that suggests the company maintained adequate liquid assets relative to its liabilities. The ratio remained relatively consistent through 2022, with slight variations, and stood at 1.18 as of September 30, 2023.

In late 2023 and into 2024, the ratio increased again, reaching 1.24 as of December 31, 2023, and further rising to 1.34 by March 31, 2024. This upward trend indicates an improvement in liquidity, with the company possessing a higher level of liquid assets relative to current liabilities. The ratio continued to improve, reaching 1.37 on September 30, 2024, and then significantly increased to 1.74 by December 31, 2024.

Looking forward, projections for the first half of 2025 show continued strengthening of liquidity, with the ratios at 2.00 in March 2025 and rising further to 2.11 in June 2025. These figures suggest that ResMed Inc. is expected to maintain, or even enhance, its short-term liquidity position, with liquid assets increasingly exceeding current liabilities.

In summary, the company's quick ratio has shown an overall improving trend in recent periods after a dip in early 2021. The recent and projected figures indicate a favorable liquidity outlook, with the ratio well above 1.0—implying that ResMed maintains a strong ability to meet its short-term obligations without relying on inventory sales.