Bio-Techne Corp (TECH)

Quick ratio

		Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Cash	US$ in thousands	151,791	180,571	172,567	199,091	146,625
Short-term investments	US$ in thousands	1,072	23,739	74,462	32,463	124,268
Receivables	US$ in thousands	241,394	218,468	194,548	145,385	122,534
Total current liabilities	US$ in thousands	159,379	128,509	176,018	152,284	106,668
Quick ratio		2.47	3.29	2.51	2.48	3.69

June 30, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($151,791K + $1,072K + $241,394K) ÷ $159,379K
= 2.47

The quick ratio of Bio-Techne Corp has exhibited some fluctuations over the past five years. In the most recent fiscal year ending on June 30, 2024, the quick ratio was 2.47, indicating that the company had $2.47 in liquid assets available to cover each dollar of current liabilities. This represents a decline from the previous year's quick ratio of 3.29.

While the quick ratio has shown some variability, it generally remains above 1, which is considered a healthy level indicating the company's ability to meet its short-term obligations using its most liquid assets. However, a decreasing trend in the quick ratio over the past two years may raise concerns about the company's liquidity position and its ability to cover immediate liabilities.

It is important to further analyze the components of the quick ratio, particularly changes in the company's current assets and liabilities, to gain a deeper understanding of Bio-Techne Corp's liquidity position and financial health.