Bio-Techne Corp (TECH)

Cash ratio

Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 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
Cash and cash equivalents US$ in thousands 162,186 140,670 177,549 187,540 151,791 139,915 130,132 148,663 180,571 127,282 164,682 165,257 172,567 160,821 211,845 196,321 199,091 186,136 165,526 169,404
Short-term investments US$ in thousands 0 0 0 0 1,072 5,397 5,520 0 23,739 29,915 32,074 37,818 74,462 70,351 67,135 38,740 32,463 90,108 117,426 117,986
Total current liabilities US$ in thousands 175,849 169,204 161,256 142,128 159,379 149,820 135,231 127,754 128,509 141,163 128,395 137,629 176,018 166,838 154,809 133,992 152,284 137,640 117,568 105,424
Cash ratio 0.92 0.83 1.10 1.32 0.96 0.97 1.00 1.16 1.59 1.11 1.53 1.48 1.40 1.39 1.80 1.75 1.52 2.01 2.41 2.73

June 30, 2025 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($162,186K + $0K) ÷ $175,849K
= 0.92

The cash ratio of Bio-Techne Corp has experienced significant fluctuations over the analyzed period from September 2020 through June 2025. At the outset, the ratio was notably high at 2.73 as of September 30, 2020, indicating a strong liquidity position whereby the company's cash and cash equivalents exceeded its current liabilities multiple times. This elevated level slightly declined to 2.41 by the end of 2020 and continued a downward trend throughout 2021, reaching a low of 1.39 by March 31, 2022.

In 2022, the ratio demonstrated minor variations, maintaining values generally between approximately 1.4 and 1.53, suggesting a consistent liquidity buffer primarily composed of cash and cash equivalents relative to current liabilities. However, in 2023, the ratio declined further, dipping to 1.11 as of March 31, 2023, and then exhibiting some recovery to 1.59 by June 30, 2023. Subsequently, the ratio experienced a decline again to 1.16 at the end of September 2023, and further decreased to 1.00 by December 2023.

Looking into 2024 and 2025, there was a continuation of the downward trend, with the ratio reaching 0.97 as of March 31, 2024, and slightly increasing to 1.32 in September 2024. The ratio then declined again to 0.83 by March 31, 2025, before marginally recovering to 0.92 by June 30, 2025.

Overall, the pattern indicates a decreasing trajectory in the cash ratio over the period, reflecting a reduction in the company's liquidity buffer measured solely by cash and cash equivalents relative to current liabilities. The fluctuations suggest periods of tightening liquidity margins, which may impact the company's ability to cover short-term obligations solely through cash holdings without liquidating other assets.