ResMed Inc (RMD)

Quick ratio

		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	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Cash	US$ in thousands	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	352,861	204,095	172,154
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	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	474,643	554,859	528,039	493,836
Total current liabilities	US$ in thousands	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	551,519	500,045	550,457
Quick ratio		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	1.56	1.65	1.46	1.21

June 30, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($238,361K + $12,026K + $837,275K) ÷ $910,655K
= 1.19

The quick ratio of ResMed Inc has shown some fluctuations over the past few quarters, ranging from 0.89 to 1.65. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has sufficient liquid assets to cover its current liabilities.

In the most recent quarter, as of June 30, 2024, the quick ratio stands at 1.19, indicating that for every dollar of current liabilities, ResMed Inc has $1.19 of highly liquid assets readily available to meet those obligations.

Overall, the trend in the quick ratio for ResMed Inc has been relatively stable, with occasional fluctuations over the quarters. Investors and creditors typically prefer to see a quick ratio above 1, as it suggests that the company is in a strong position to meet its short-term financial obligations. However, it is essential to look at other financial ratios and qualitative factors to gain a comprehensive understanding of the company's liquidity and financial health.