Seagate Technology PLC (STX)
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 | 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 |
| Receivables | US$ in thousands | 539,000 | 457,000 | 593,000 | 630,000 | 788,000 | 994,000 | 840,000 | 1,098,000 | 1,532,000 | — | 1,399,000 | — | 1,158,000 | — | — | — | — | — | — | — |
| 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 |
| Quick ratio | 0.61 | 0.41 | 0.55 | 0.58 | 0.61 | 0.48 | 0.59 | 0.59 | 0.62 | 0.40 | 0.98 | 0.34 | 0.81 | 0.41 | 0.69 | 0.63 | 0.63 | 0.60 | 0.65 | 0.70 |
June 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,358,000K
+ $—K
+ $539,000K)
÷ $3,099,000K
= 0.61
The quick ratio of Seagate Technology PLC has varied over the periods under consideration. The quick ratio measures the company's ability to meet its short-term obligations with its highly liquid assets. A quick ratio of 1 or higher is generally considered healthy.
Seagate's quick ratio fluctuated between 0.34 and 0.98 over the past 21 quarters. The ratio was below 1 for most of the quarters, indicating that the company may have had difficulty meeting its short-term obligations with its most liquid assets alone.
In the most recent quarter, the quick ratio stood at 0.61, which suggests that the company may still be relying on factors other than its current assets, such as its accounts receivable or inventory, to meet its short-term liabilities.
Overall, Seagate's quick ratio trend indicates some variability in its ability to cover its short-term obligations with its readily available assets. It would be advisable for stakeholders to closely monitor this ratio to ensure the company's liquidity position remains stable.
Peer comparison
Jun 30, 2024