Tapestry Inc (TPR)
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 | 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 |
| Receivables | US$ in thousands | 228,200 | 276,700 | 245,600 | 264,800 | 211,500 | — | 252,800 | — | 252,300 | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Quick ratio | 4.34 | 5.63 | 5.32 | 0.76 | 0.74 | 0.57 | 0.82 | 0.43 | 0.82 | 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
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($6,142,000K
+ $1,061,800K
+ $228,200K)
÷ $1,711,600K
= 4.34
The quick ratio of Tapestry Inc, which measures the company's ability to meet its short-term obligations with its most liquid assets, has shown fluctuating trends over the past few quarters.
In the most recent quarter ending June 30, 2024, the quick ratio stands at 4.34, indicating a strong ability to cover its short-term liabilities with its liquid assets. This is a significant improvement from the previous quarter's quick ratio of 5.63, suggesting an even higher level of liquidity.
However, looking back over the past few quarters, there has been considerable variation in the quick ratio. In some quarters, such as September 30, 2023, and December 31, 2022, the quick ratio dropped to as low as 0.76 and 0.82, respectively, indicating potential liquidity challenges in meeting short-term obligations.
Overall, while the recent improvement in the quick ratio is positive for Tapestry Inc, investors and stakeholders should monitor this ratio closely in the future to assess the company's ongoing ability to meet its short-term financial obligations.
Peer comparison
Jun 30, 2024