Seagate Technology PLC (STX)
Cash 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 and cash equivalents | US$ in thousands | 1,358,000 | 795,000 | 787,000 | 795,000 | 786,000 | 766,000 | 770,000 | 761,000 | 615,000 | 1,138,000 | 1,535,000 | 991,000 | 1,209,000 | 1,212,000 | 1,799,000 | 1,664,000 | 1,722,000 | 1,612,000 | 1,744,000 | 1,784,000 |
| Short-term investments | US$ in thousands | — | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 59,000 | 23,000 | 2,000 | 2,000 | 2,000 | 2,000 | 5,000 | 5,000 | 2,000 | 2,000 | 2,000 | 2,000 |
| Total current liabilities | US$ in thousands | 3,099,000 | 3,062,000 | 2,529,000 | 2,473,000 | 2,592,000 | 3,639,000 | 2,725,000 | 3,138,000 | 3,555,000 | 2,881,000 | 2,992,000 | 2,889,000 | 2,921,000 | 2,993,000 | 2,621,000 | 2,644,000 | 2,722,000 | 2,690,000 | 2,700,000 | 2,549,000 |
| Cash ratio | 0.44 | 0.26 | 0.31 | 0.32 | 0.30 | 0.21 | 0.28 | 0.24 | 0.19 | 0.40 | 0.51 | 0.34 | 0.41 | 0.41 | 0.69 | 0.63 | 0.63 | 0.60 | 0.65 | 0.70 |
June 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,358,000K
+ $—K)
÷ $3,099,000K
= 0.44
The cash ratio of Seagate Technology PLC has shown fluctuations over the past few quarters. The cash ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations.
Looking at the trend in Seagate's cash ratio, we observe that it has varied between 0.19 and 0.70 in the past eight quarters. The ratio was relatively low in the first half of 2022 but has since increased, with a peak of 0.70 in the third quarter of 2019.
The most recent cash ratio of 0.44 as of June 30, 2024, indicates that Seagate has $0.44 in cash and cash equivalents for every $1 of current liabilities. This suggests that the company has a moderate ability to meet its short-term obligations with readily available cash.
It is important for investors and stakeholders to monitor changes in the cash ratio over time to assess Seagate's liquidity position and ability to manage short-term financial obligations effectively.
Peer comparison
Jun 30, 2024