Tapestry Inc (TPR)
Cash 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 and cash equivalents | US$ in thousands | 6,142,000 | 6,975,100 | 6,833,100 | 622,100 | 726,100 | 637,200 | 830,200 | 526,500 | 789,800 | 806,000 | 1,257,400 | 1,252,600 | 2,007,700 | 1,651,700 | 1,642,600 | 1,513,900 | 1,426,300 | 742,600 | 896,900 | 522,100 |
| Short-term investments | US$ in thousands | 1,061,800 | 442,900 | 629,200 | 16,700 | 15,400 | 14,600 | 16,000 | 30,600 | 163,400 | 267,000 | 390,300 | 402,600 | 8,100 | 7,500 | 9,200 | 8,500 | 8,100 | 155,600 | 269,800 | 266,300 |
| Total current liabilities | US$ in thousands | 1,711,600 | 1,365,900 | 1,447,600 | 1,194,200 | 1,286,500 | 1,146,100 | 1,338,600 | 1,308,400 | 1,468,800 | 1,733,300 | 1,843,700 | 1,646,600 | 1,425,800 | 1,291,100 | 1,533,100 | 1,819,000 | 1,742,100 | 1,138,900 | 1,252,300 | 1,212,000 |
| Cash ratio | 4.21 | 5.43 | 5.15 | 0.53 | 0.58 | 0.57 | 0.63 | 0.43 | 0.65 | 0.62 | 0.89 | 1.01 | 1.41 | 1.29 | 1.08 | 0.84 | 0.82 | 0.79 | 0.93 | 0.65 |
June 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($6,142,000K
+ $1,061,800K)
÷ $1,711,600K
= 4.21
The cash ratio for Tapestry Inc has shown some fluctuations over the past several quarters.
As of June 30, 2024, Tapestry Inc has a cash ratio of 4.21, indicating that the company has a higher proportion of cash and cash equivalents to cover its current liabilities. This is an improvement compared to the previous quarter's cash ratio of 5.43, suggesting the company's ability to meet its short-term obligations has strengthened.
In general, the trend in the cash ratio has been positive over the last few quarters, with the ratio consistently above 1 since the fourth quarter of 2020. This indicates that Tapestry Inc has been holding an adequate amount of cash relative to its current liabilities, which is a positive signal for the company's liquidity position.
However, it's worth noting the substantial decrease in the cash ratio in the third quarter of 2023, where it dropped to 0.53. This could indicate a temporary cash crunch or a shift in the company's cash management strategy during that period.
Overall, while the cash ratio has shown variability, the recent trend suggests that Tapestry Inc has been managing its cash position effectively to meet its short-term obligations.
Peer comparison
Jun 30, 2024