ResMed Inc (RMD)

Quick ratio

		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	Jun 30, 2020
Cash	US$ in thousands	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	463,156
Short-term investments	US$ in thousands	—	—	—	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	907,825	859,937	811,198	837,275	817,190	729,740	692,388	704,909	686,264	672,271	620,483	575,950	508,580	550,719	601,353	614,292	525,014	518,817	474,478	484,095
Total current liabilities	US$ in thousands	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	602,761
Quick ratio		1.96	1.62	1.37	1.19	1.39	1.24	1.18	1.25	1.22	1.27	1.19	1.25	1.09	1.23	1.46	1.00	0.89	1.34	1.52	1.57

March 31, 2025 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($932,711K + $—K + $907,825K) ÷ $940,516K
= 1.96

The quick ratio of ResMed Inc. demonstrates notable fluctuations over the analyzed period, indicating shifts in the company's short-term liquidity position. Starting from a relatively strong value of 1.57 as of June 30, 2020, the ratio experienced a gradual decline through December 31, 2020, reaching 1.34. This downward trend continued more markedly by March 31, 2021, with the ratio dropping to 0.89, reflecting a significant decrease in liquid assets relative to current liabilities.

Subsequently, the ratio recovered somewhat, rising back to 1.00 in June 2021 and further improving to 1.46 by September 2021, suggesting an enhancement in liquidity. The value slightly declined again to 1.23 at the end of 2021 and maintained a moderate level around 1.09 to 1.25 through June 2022 to September 2022. The ratio remained relatively stable during this period, indicating ongoing liquidity management.

Starting from the end of 2022, the ratio exhibited modest increases and decreases, generally staying above 1.2, with values like 1.27 at December 2022 and 1.22 in March 2023. A slight decrease occurred by June 2023 to 1.25, followed by a minor dip to 1.18 in September 2023. Notably, the ratio climbed again to 1.24 at the end of 2023 and showed upward momentum into early 2024, reaching 1.39 in March 2024, but then dipped to 1.19 by June 2024 before rising significantly to 1.37 in September 2024 and subsequently increasing to 1.62 at December 2024.

The most recent data point, as of March 31, 2025, indicates a further increase to 1.96, approaching nearly double the initial levels observed in 2020. This progression suggests a consistent strengthening of ResMed Inc.'s liquid asset position relative to its current liabilities in recent periods.

Overall, the trend of the quick ratio highlights periods of both liquidity strain and recovery, with recent data illustrating a marked improvement in the company's short-term liquidity profile, which may indicate enhanced financial resilience or improved management of quick assets relative to current liabilities.