Sonos Inc (SONO)
Quick ratio
| 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 | Mar 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 169,732 | 227,114 | 245,962 | 467,342 | 220,231 | 268,286 | 294,873 | 431,533 | 274,855 | 439,726 | 606,744 | 754,417 | 640,101 | 670,905 | 638,927 | 677,834 | 407,100 | 329,122 | 283,250 | 408,419 |
| Short-term investments | US$ in thousands | 51,426 | 49,515 | 45,598 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 44,513 | 131,581 | 69,725 | 80,811 | 67,583 | 114,658 | — | 109,703 | 101,206 | — | — | — | 100,779 | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 366,153 | 366,881 | 303,217 | 376,001 | 354,218 | 344,504 | 352,157 | 477,639 | 535,639 | 505,220 | 463,736 | 599,262 | 476,130 | 400,919 | 371,071 | 455,764 | 393,015 | 257,694 | 213,199 | 375,120 |
| Quick ratio | 0.73 | 1.11 | 1.19 | 1.46 | 0.81 | 1.11 | 0.84 | 1.13 | 0.70 | 0.87 | 1.31 | 1.26 | 1.56 | 1.67 | 1.72 | 1.49 | 1.04 | 1.28 | 1.33 | 1.09 |
September 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($169,732K
+ $51,426K
+ $44,513K)
÷ $366,153K
= 0.73
The quick ratio of Sonos Inc fluctuated over the past few years, indicating variations in its liquidity position. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.
From December 2019 to March 2020, the quick ratio declined before rebounding in the subsequent quarters, reaching a peak of 1.72 in March 2021. This period of improvement suggests better short-term liquidity management by the company.
However, the quick ratio began to decline from September 2021 and fluctuated around 1.00 until March 2023. This downward trend may indicate challenges in maintaining sufficient liquid assets to cover short-term liabilities during this period.
Following March 2023, there was a slight recovery in the quick ratio, peaking at 1.46 in December 2023. This improvement suggests efforts to enhance liquidity management and strengthen the company's ability to meet short-term obligations.
The quick ratio decreased in the most recent quarter, September 2024, to 0.73, indicating a potential decrease in the company's ability to cover its short-term liabilities with its liquid assets compared to the previous quarter.
Overall, the fluctuating trend of Sonos Inc's quick ratio reflects varying levels of liquidity and highlights the importance of ongoing monitoring and management of short-term liquidity to ensure the company's financial stability.
Peer comparison
Sep 30, 2024