Bio-Techne Corp (TECH)

Quick 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 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
Receivables US$ in thousands 206,876 237,140 217,940 223,688 241,394 227,887 207,451 204,570 218,468 216,415 184,763 174,174 194,548 202,095 152,896 147,548 145,385 157,790 128,243 122,635
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
Quick ratio 2.10 2.23 2.45 2.89 2.47 2.49 2.54 2.76 3.29 2.65 2.97 2.74 2.51 2.60 2.79 2.86 2.48 3.15 3.50 3.89

June 30, 2025 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($162,186K + $0K + $206,876K) ÷ $175,849K
= 2.10

The analysis of Bio-Techne Corp’s quick ratio over the specified period reveals a generally stable liquidity position, with fluctuations indicating moderate variations in the company's ability to meet short-term obligations using its most liquid assets.

Beginning with a high quick ratio of 3.89 as of September 30, 2020, the figure demonstrates that the company's liquid assets significantly exceeded current liabilities at that point, suggesting robust short-term solvency. Over the subsequent quarters, there was a gradual decline, reaching a low of 2.48 on June 30, 2021, which still indicates a strong liquidity buffer, albeit less pronounced than in 2020.

Following this dip, the quick ratio experienced some fluctuations, with a slight increase to 2.86 as of September 30, 2021, and remaining relatively stable through December 2021 and March 2022, hovering between approximately 2.60 and 2.97. This stability suggests consistent management of liquid assets relative to short-term liabilities during this period.

From mid-2022 onward, a trend of gradual decline becomes apparent, with the ratio decreasing from 2.51 on June 30, 2022, to around 2.23 by March 31, 2025. Notably, there are intermittent periods of slight recovery; for example, the ratio rose to 3.29 on June 30, 2023, but then declined again to 2.76 by September 30, 2023, and further to 2.45 by December 31, 2024. The recent data indicates that although the quick ratio has decreased over time, it remains above 2.0 in most periods, maintaining a generally healthy liquidity posture.

Overall, despite the declining trend from its peak in late 2020 and mid-2023, the quick ratio consistently remains above 2.0 throughout the analyzed period, which signifies that Bio-Techne Corp maintains sufficient liquid assets to cover its immediate liabilities. The decrease over time suggests a potential shift in liquidity management or changes in the composition of liquid assets relative to liabilities, but the ratios still reflect a position of liquidity adequacy rather than concerning short-term solvency issues.