Synnex Corporation (SNX)

Quick ratio

		Feb 29, 2024	Nov 30, 2023	Aug 31, 2023	Feb 28, 2023	Nov 30, 2022	Aug 31, 2022	May 31, 2022	Feb 28, 2022	Nov 30, 2021	Aug 31, 2021	May 31, 2021	Feb 28, 2021	Nov 30, 2020	Aug 31, 2020	May 31, 2020	Feb 29, 2020	Nov 30, 2019	Aug 31, 2019	May 31, 2019	Feb 28, 2019
Cash	US$ in thousands	1,030,950	1,033,780	1,250,870	539,285	522,604	350,810	521,514	510,207	993,973	4,050,360	1,656,870	1,443,750	1,412,020	1,452,270	1,112,560	296,193	225,529	262,279	271,491	243,605
Short-term investments	US$ in thousands	—	—	—	14,935	17,222	6,690	—	—	—	—	—	—	152,656	—	—	—	—	—	—	—
Receivables	US$ in thousands	8,902,800	10,297,800	8,892,130	9,357,060	9,421,000	8,114,000	7,851,540	8,732,020	8,310,030	2,229,640	2,451,880	2,381,060	3,870,790	3,580,970	3,215,370	3,294,220	3,926,710	3,452,980	3,457,110	3,167,300
Total current liabilities	US$ in thousands	15,254,900	16,738,800	15,532,000	15,790,600	16,428,700	15,930,900	14,659,700	15,207,000	14,233,500	4,007,390	4,270,330	3,968,310	5,630,090	5,632,150	5,229,300	4,227,150	4,607,120	4,578,680	4,461,220	3,880,480
Quick ratio		0.65	0.68	0.65	0.63	0.61	0.53	0.57	0.61	0.65	1.57	0.96	0.96	0.97	0.89	0.83	0.85	0.90	0.81	0.84	0.88

February 29, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,030,950K + $—K + $8,902,800K) ÷ $15,254,900K
= 0.65

The quick ratio of Synnex Corporation has fluctuated over the historical periods provided. The quick ratio measures the company's ability to meet its short-term obligations using its liquid assets, excluding inventory.

In recent periods, the quick ratio has generally been around 0.6 to 0.7, indicating that Synnex may have had some challenges in meeting its short-term liabilities with its most liquid assets. The ratio was lowest in August 2022 at 0.53 and has shown some improvement since then.

The quick ratio significantly increased to 1.57 in the third quarter of 2021, which may have been due to a significant decrease in current liabilities or an increase in cash and equivalents. This sudden spike could indicate a strong ability to cover short-term obligations with liquid assets during that period.

Overall, the trend in Synnex Corporation's quick ratio shows some variability but remains within a reasonable range for most of the periods examined, suggesting that the company generally maintains an adequate level of liquidity to meet its short-term obligations.