Seagate Technology PLC (STX)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 3,332,000 | 2,615,000 | 2,628,000 | 2,636,000 | 2,905,000 | 3,597,000 | 3,081,000 | 3,740,000 | 4,033,000 | 4,259,000 | 4,450,000 | 3,668,000 | 3,779,000 | 3,692,000 | 4,081,000 | 3,994,000 | 4,114,000 | 4,015,000 | 4,152,000 | 4,031,000 |
| 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 |
| Current ratio | 1.08 | 0.85 | 1.04 | 1.07 | 1.12 | 0.99 | 1.13 | 1.19 | 1.13 | 1.48 | 1.49 | 1.27 | 1.29 | 1.23 | 1.56 | 1.51 | 1.51 | 1.49 | 1.54 | 1.58 |
June 30, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $3,332,000K ÷ $3,099,000K
= 1.08
The current ratio of Seagate Technology PLC has been fluctuating over the past few quarters. The ratio measures the company's ability to cover its short-term obligations with its current assets. A current ratio above 1 indicates that the company has more current assets than current liabilities, which is considered a positive sign.
Looking at the trend, the current ratio has generally been above 1, indicating that Seagate Technology PLC has had sufficient current assets to meet its short-term obligations. However, the ratio dipped to 0.85 in March 2024, which may suggest potential liquidity concerns or a strain on the company's ability to pay its short-term debts.
The company saw an improvement in the current ratio in the following quarter, reaching 1.04 in December 2023, but it remained below the ideal threshold of 1.5. Subsequently, the ratio fluctuated between 1.04 and 1.13 before peaking at 1.56 in March 2021. This peak was followed by a decline to 1.13 in June 2022, which then increased to 1.48 in March 2022.
In the most recent quarter, the current ratio stood at 1.08, which is slightly above 1, indicating that the company still has sufficient current assets to cover its current liabilities. However, analysts may want to keep an eye on the current ratio in future quarters to assess the company's liquidity position and ability to meet its short-term obligations.
Peer comparison
Jun 30, 2024