Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Cisco Systems Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-04-26), 10-Q (reporting date: 2025-01-25), 10-Q (reporting date: 2024-10-26), 10-K (reporting date: 2024-07-27), 10-Q (reporting date: 2024-04-27), 10-Q (reporting date: 2024-01-27), 10-Q (reporting date: 2023-10-28), 10-K (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-Q (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-K (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-Q (reporting date: 2021-01-23), 10-Q (reporting date: 2020-10-24), 10-K (reporting date: 2020-07-25), 10-Q (reporting date: 2020-04-25), 10-Q (reporting date: 2020-01-25), 10-Q (reporting date: 2019-10-26), 10-K (reporting date: 2019-07-27), 10-Q (reporting date: 2019-04-27), 10-Q (reporting date: 2019-01-26), 10-Q (reporting date: 2018-10-27).
- Current Ratio Trend
- The current ratio shows a declining trend over the period analyzed. Starting from a high of 2.11 in October 2018, the ratio steadily decreases with some fluctuations, reaching approximately 1.37 by January 2024. From that point, there is a sharp decline to below 1.0, with values near 0.87 to 0.95 in the subsequent quarters. This indicates a reduction in short-term liquidity, suggesting the company's ability to cover current liabilities with current assets has weakened considerably in the most recent periods.
- Quick Ratio Trend
- The quick ratio follows a similar downward pattern as the current ratio, starting at 1.97 in October 2018. It gradually decreases over the years with minor rebounds, moving down to about 1.1 by early 2024. Thereafter, the quick ratio drops substantially, falling to a range of approximately 0.64 to 0.69 in the latest quarters. This further illustrates a decline in the company's immediate liquidity position, excluding inventory, implying less liquid assets relative to current liabilities.
- Cash Ratio Trend
- The cash ratio mirrors the overall downward movement observed in the current and quick ratios. It starts at a relatively strong level of 1.61 in late 2018, then declines gradually through the years, showing some volatility but consistently trending lower. By early 2024, the cash ratio falls below 0.5, fluctuating between 0.42 and 0.47 in recent quarters. This signals a diminished cushion of cash and cash equivalents available to meet current liabilities, marking a significant tightening of liquidity.
- Overall Liquidity Insights
- Across all three liquidity ratios, the data reveal a clear pattern of decreasing short-term financial strength over the approximately six-year span. The ratios transition from healthy levels above 1.5–2.0 in 2018 to concerning levels below 1.0 by 2024, with the cash ratio dropping below 0.5. This trend may imply increasing operational or financial pressure or shifts in asset and liability management. The sharp declines in the last quarters warrant further investigation to understand underlying causes and the potential impact on the company's ability to meet short-term obligations.
Current Ratio
Cisco Systems Inc., current ratio calculation (quarterly data)
| Apr 26, 2025 | Jan 25, 2025 | Oct 26, 2024 | Jul 27, 2024 | Apr 27, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 23, 2021 | Oct 24, 2020 | Jul 25, 2020 | Apr 25, 2020 | Jan 25, 2020 | Oct 26, 2019 | Jul 27, 2019 | Apr 27, 2019 | Jan 26, 2019 | Oct 27, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Current assets | 32,816) | 34,681) | 35,752) | 36,862) | 35,886) | 42,127) | 39,659) | 43,348) | 39,950) | 38,515) | 36,141) | 36,717) | 35,981) | 36,799) | 37,588) | 39,112) | 37,060) | 43,911) | 42,989) | 43,573) | 41,307) | 40,053) | 41,716) | 47,755) | 47,311) | 53,117) | 55,686) | ||||||||
| Current liabilities | 34,495) | 40,019) | 40,542) | 40,584) | 40,108) | 30,851) | 27,035) | 31,309) | 28,719) | 27,252) | 24,896) | 25,640) | 24,150) | 25,915) | 23,238) | 26,257) | 24,262) | 27,268) | 26,991) | 25,331) | 25,937) | 22,088) | 24,597) | 31,712) | 27,913) | 29,479) | 26,414) | ||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||||
| Current ratio1 | 0.95 | 0.87 | 0.88 | 0.91 | 0.89 | 1.37 | 1.47 | 1.38 | 1.39 | 1.41 | 1.45 | 1.43 | 1.49 | 1.42 | 1.62 | 1.49 | 1.53 | 1.61 | 1.59 | 1.72 | 1.59 | 1.81 | 1.70 | 1.51 | 1.69 | 1.80 | 2.11 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
| Apple Inc. | — | 0.82 | 0.92 | 0.87 | 0.95 | 1.04 | 1.07 | 0.99 | 0.98 | 0.94 | 0.94 | 0.88 | 0.86 | 0.93 | 1.04 | 1.07 | 1.06 | 1.14 | 1.16 | 1.36 | 1.47 | 1.50 | 1.60 | 1.54 | 1.50 | 1.32 | 1.30 | ||||||||
| Arista Networks Inc. | — | — | 3.93 | 4.36 | 4.47 | 4.55 | 5.01 | 4.39 | 4.15 | 4.14 | 3.96 | 4.29 | 4.01 | 3.70 | 3.73 | 4.34 | 5.06 | 5.03 | 5.09 | 4.99 | 5.50 | 5.59 | 5.82 | — | — | — | — | ||||||||
| Dell Technologies Inc. | 0.77 | 0.72 | 0.73 | 0.74 | 0.76 | 0.77 | 0.80 | 0.82 | 0.75 | 0.77 | 0.78 | 0.80 | 0.82 | 0.79 | 0.77 | 0.80 | 0.77 | 0.76 | 0.82 | 0.70 | 0.71 | 0.75 | 0.77 | — | — | — | — | ||||||||
| Super Micro Computer Inc. | 6.66 | 6.38 | 3.43 | 3.81 | 4.69 | 2.43 | 2.23 | 2.31 | 2.49 | 2.89 | 2.13 | 1.91 | 1.79 | 1.91 | 1.85 | 1.93 | 2.10 | 2.29 | 2.51 | 2.25 | 2.10 | 2.26 | 2.41 | 2.35 | 2.40 | 2.10 | 2.02 | ||||||||
Based on: 10-Q (reporting date: 2025-04-26), 10-Q (reporting date: 2025-01-25), 10-Q (reporting date: 2024-10-26), 10-K (reporting date: 2024-07-27), 10-Q (reporting date: 2024-04-27), 10-Q (reporting date: 2024-01-27), 10-Q (reporting date: 2023-10-28), 10-K (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-Q (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-K (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-Q (reporting date: 2021-01-23), 10-Q (reporting date: 2020-10-24), 10-K (reporting date: 2020-07-25), 10-Q (reporting date: 2020-04-25), 10-Q (reporting date: 2020-01-25), 10-Q (reporting date: 2019-10-26), 10-K (reporting date: 2019-07-27), 10-Q (reporting date: 2019-04-27), 10-Q (reporting date: 2019-01-26), 10-Q (reporting date: 2018-10-27).
1 Q3 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= 32,816 ÷ 34,495 = 0.95
2 Click competitor name to see calculations.
The quarterly financial data reveal notable shifts in liquidity and working capital management over the observed periods.
- Current Assets
- Current assets exhibit a generally declining trend from the initial value of approximately 55,686 million US dollars in late 2018, decreasing to about 32,816 million US dollars by the second quarter of 2025. Although there are some interim increases, such as peaks around 43,573 million US dollars in mid-2020 and 43,348 million in mid-2023, the overall trajectory reflects a contraction in current asset holdings.
- Current Liabilities
- Current liabilities fluctuate over the timeframe but demonstrate an overall upward pressure towards the later periods. Starting near 26,414 million US dollars in late 2018, liabilities show multiple variations, rising notably to over 40,000 million US dollars by late 2024 and early 2025. This increase in current liabilities contrasts with the decline in current assets.
- Current Ratio
- The current ratio, which measures the company's short-term liquidity by comparing current assets to current liabilities, illustrates a weakening liquidity position over time. Initially strong at around 2.11 in late 2018, the ratio decreases steadily with some minor fluctuations, reaching below 1.0 (around 0.88 to 0.95) in the late 2024 through mid-2025 periods. This indicates that current liabilities exceed current assets in these most recent quarters, signaling potential liquidity stress.
In summary, the data suggest a diminishing cushion of liquid assets relative to short-term obligations. The sustained decrease in current assets combined with rising current liabilities results in a declining current ratio, highlighting a shift toward tighter liquidity conditions. Such changes warrant close monitoring, as they may impact the company's ability to meet short-term liabilities without raising additional capital or liquidating long-term assets.
Quick Ratio
Cisco Systems Inc., quick ratio calculation (quarterly data)
| Apr 26, 2025 | Jan 25, 2025 | Oct 26, 2024 | Jul 27, 2024 | Apr 27, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 23, 2021 | Oct 24, 2020 | Jul 25, 2020 | Apr 25, 2020 | Jan 25, 2020 | Oct 26, 2019 | Jul 27, 2019 | Apr 27, 2019 | Jan 26, 2019 | Oct 27, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | 8,161) | 8,556) | 9,065) | 7,508) | 8,913) | 13,715) | 9,602) | 10,123) | 8,044) | 9,009) | 7,292) | 7,079) | 6,952) | 6,731) | 7,619) | 9,175) | 7,350) | 11,793) | 10,822) | 11,809) | 10,366) | 8,475) | 8,587) | 11,750) | 10,251) | 9,835) | 8,410) | ||||||||
| Investments | 7,481) | 8,297) | 9,606) | 10,346) | 9,857) | 11,956) | 13,921) | 16,023) | 15,244) | 13,052) | 12,492) | 12,188) | 13,156) | 14,382) | 15,727) | 15,343) | 16,229) | 18,795) | 19,190) | 17,610) | 18,208) | 18,587) | 19,448) | 21,663) | 24,392) | 30,548) | 34,183) | ||||||||
| Accounts receivable, net of allowance | 5,277) | 5,669) | 4,457) | 6,685) | 5,127) | 4,884) | 4,833) | 5,854) | 5,104) | 5,237) | 5,439) | 6,622) | 5,783) | 6,003) | 5,306) | 5,766) | 4,425) | 4,307) | 3,980) | 5,472) | 4,569) | 4,330) | 4,878) | 5,491) | 3,795) | 3,745) | 4,536) | ||||||||
| Financing receivables, net | 2,958) | 3,074) | 3,123) | 3,338) | 3,443) | 3,476) | 3,414) | 3,352) | 3,402) | 3,557) | 3,683) | 3,905) | 3,804) | 3,997) | 4,070) | 4,380) | 4,648) | 5,027) | 5,105) | 5,051) | 4,703) | 4,827) | 5,026) | 5,095) | 5,029) | 5,057) | 4,851) | ||||||||
| Total quick assets | 23,877) | 25,596) | 26,251) | 27,877) | 27,340) | 34,031) | 31,770) | 35,352) | 31,794) | 30,855) | 28,906) | 29,794) | 29,695) | 31,113) | 32,722) | 34,664) | 32,652) | 39,922) | 39,097) | 39,942) | 37,846) | 36,219) | 37,939) | 43,999) | 43,467) | 49,185) | 51,980) | ||||||||
| Current liabilities | 34,495) | 40,019) | 40,542) | 40,584) | 40,108) | 30,851) | 27,035) | 31,309) | 28,719) | 27,252) | 24,896) | 25,640) | 24,150) | 25,915) | 23,238) | 26,257) | 24,262) | 27,268) | 26,991) | 25,331) | 25,937) | 22,088) | 24,597) | 31,712) | 27,913) | 29,479) | 26,414) | ||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||||
| Quick ratio1 | 0.69 | 0.64 | 0.65 | 0.69 | 0.68 | 1.10 | 1.18 | 1.13 | 1.11 | 1.13 | 1.16 | 1.16 | 1.23 | 1.20 | 1.41 | 1.32 | 1.35 | 1.46 | 1.45 | 1.58 | 1.46 | 1.64 | 1.54 | 1.39 | 1.56 | 1.67 | 1.97 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
| Apple Inc. | — | 0.68 | 0.78 | 0.75 | 0.80 | 0.87 | 0.92 | 0.84 | 0.81 | 0.76 | 0.77 | 0.71 | 0.70 | 0.76 | 0.88 | 0.91 | 0.89 | 0.97 | 1.02 | 1.22 | 1.31 | 1.30 | 1.44 | 1.38 | 1.35 | 1.13 | 1.14 | ||||||||
| Arista Networks Inc. | — | — | 3.07 | 3.46 | 3.52 | 3.47 | 3.67 | 3.16 | 2.86 | 2.73 | 2.65 | 3.05 | 2.89 | 2.73 | 2.97 | 3.54 | 4.23 | 4.24 | 4.33 | 4.25 | 4.73 | 4.94 | 5.22 | — | — | — | — | ||||||||
| Dell Technologies Inc. | 0.43 | 0.40 | 0.40 | 0.44 | 0.47 | 0.47 | 0.48 | 0.52 | 0.41 | 0.44 | 0.44 | 0.49 | 0.60 | 0.53 | 0.55 | 0.59 | 0.55 | 0.51 | 0.56 | 0.51 | 0.50 | 0.54 | 0.55 | — | — | — | — | ||||||||
| Super Micro Computer Inc. | 3.63 | 3.31 | 1.68 | 1.88 | 2.19 | 1.12 | 0.87 | 1.16 | 0.95 | 1.17 | 0.72 | 0.75 | 0.62 | 0.62 | 0.66 | 0.72 | 0.75 | 0.95 | 1.06 | 0.87 | 0.81 | 1.00 | 1.01 | 1.06 | 0.88 | 0.76 | 0.75 | ||||||||
Based on: 10-Q (reporting date: 2025-04-26), 10-Q (reporting date: 2025-01-25), 10-Q (reporting date: 2024-10-26), 10-K (reporting date: 2024-07-27), 10-Q (reporting date: 2024-04-27), 10-Q (reporting date: 2024-01-27), 10-Q (reporting date: 2023-10-28), 10-K (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-Q (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-K (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-Q (reporting date: 2021-01-23), 10-Q (reporting date: 2020-10-24), 10-K (reporting date: 2020-07-25), 10-Q (reporting date: 2020-04-25), 10-Q (reporting date: 2020-01-25), 10-Q (reporting date: 2019-10-26), 10-K (reporting date: 2019-07-27), 10-Q (reporting date: 2019-04-27), 10-Q (reporting date: 2019-01-26), 10-Q (reporting date: 2018-10-27).
1 Q3 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 23,877 ÷ 34,495 = 0.69
2 Click competitor name to see calculations.
- Trend in Total Quick Assets
- Total quick assets generally declined over the observed periods, starting at a high of 51,980 million USD in October 2018 and decreasing to 23,877 million USD by April 2025. There were minor fluctuations with occasional increases, such as in July 2020 and early 2023, but the overarching pattern indicates a consistent downward trend in liquid assets.
- Trend in Current Liabilities
- Current liabilities showed variability but exhibited an overall increasing trend from 26,414 million USD in October 2018 to a peak of approximately 40,584 million USD by October 2024. A notable surge occurred around mid-2024, followed by a slight decrease by April 2025. This suggests rising short-term financial obligations over time.
- Quick Ratio Analysis
- The quick ratio declined steadily throughout the given timeframe, beginning at 1.97 in October 2018 and dropping substantially to levels below 1 from July 2024 onwards, with values ranging between 0.64 and 0.69. The ratio remained above 1 for most of the earlier periods, indicating sufficient liquid assets to cover current liabilities, but this margin decreased markedly in the last year of data, reflecting potential liquidity pressures.
- Overall Financial Insight
- The combination of diminishing quick assets and growing current liabilities results in a weakening quick ratio, signaling a reduction in the company's short-term liquidity. The progressive decline in this ratio below the critical threshold of 1 in the later periods may warrant close monitoring to assess the company's ability to meet its immediate obligations without relying on inventory sales or additional financing.
Cash Ratio
Cisco Systems Inc., cash ratio calculation (quarterly data)
| Apr 26, 2025 | Jan 25, 2025 | Oct 26, 2024 | Jul 27, 2024 | Apr 27, 2024 | Jan 27, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Jan 28, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Jan 29, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 | Jan 23, 2021 | Oct 24, 2020 | Jul 25, 2020 | Apr 25, 2020 | Jan 25, 2020 | Oct 26, 2019 | Jul 27, 2019 | Apr 27, 2019 | Jan 26, 2019 | Oct 27, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | 8,161) | 8,556) | 9,065) | 7,508) | 8,913) | 13,715) | 9,602) | 10,123) | 8,044) | 9,009) | 7,292) | 7,079) | 6,952) | 6,731) | 7,619) | 9,175) | 7,350) | 11,793) | 10,822) | 11,809) | 10,366) | 8,475) | 8,587) | 11,750) | 10,251) | 9,835) | 8,410) | ||||||||
| Investments | 7,481) | 8,297) | 9,606) | 10,346) | 9,857) | 11,956) | 13,921) | 16,023) | 15,244) | 13,052) | 12,492) | 12,188) | 13,156) | 14,382) | 15,727) | 15,343) | 16,229) | 18,795) | 19,190) | 17,610) | 18,208) | 18,587) | 19,448) | 21,663) | 24,392) | 30,548) | 34,183) | ||||||||
| Total cash assets | 15,642) | 16,853) | 18,671) | 17,854) | 18,770) | 25,671) | 23,523) | 26,146) | 23,288) | 22,061) | 19,784) | 19,267) | 20,108) | 21,113) | 23,346) | 24,518) | 23,579) | 30,588) | 30,012) | 29,419) | 28,574) | 27,062) | 28,035) | 33,413) | 34,643) | 40,383) | 42,593) | ||||||||
| Current liabilities | 34,495) | 40,019) | 40,542) | 40,584) | 40,108) | 30,851) | 27,035) | 31,309) | 28,719) | 27,252) | 24,896) | 25,640) | 24,150) | 25,915) | 23,238) | 26,257) | 24,262) | 27,268) | 26,991) | 25,331) | 25,937) | 22,088) | 24,597) | 31,712) | 27,913) | 29,479) | 26,414) | ||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||||
| Cash ratio1 | 0.45 | 0.42 | 0.46 | 0.44 | 0.47 | 0.83 | 0.87 | 0.84 | 0.81 | 0.81 | 0.79 | 0.75 | 0.83 | 0.81 | 1.00 | 0.93 | 0.97 | 1.12 | 1.11 | 1.16 | 1.10 | 1.23 | 1.14 | 1.05 | 1.24 | 1.37 | 1.61 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||||||||
| Apple Inc. | — | 0.34 | 0.37 | 0.37 | 0.47 | 0.54 | 0.55 | 0.42 | 0.50 | 0.47 | 0.37 | 0.31 | 0.37 | 0.40 | 0.43 | 0.50 | 0.57 | 0.66 | 0.58 | 0.86 | 0.98 | 0.98 | 1.05 | 0.95 | 1.05 | 0.85 | 0.80 | ||||||||
| Arista Networks Inc. | — | — | 2.61 | 3.04 | 3.05 | 2.90 | 3.06 | 2.62 | 2.41 | 2.26 | 2.10 | 2.34 | 2.37 | 2.27 | 2.50 | 3.07 | 3.79 | 3.82 | 3.85 | 3.74 | 4.28 | 4.35 | 4.60 | — | — | — | — | ||||||||
| Dell Technologies Inc. | 0.11 | 0.09 | 0.12 | 0.15 | 0.17 | 0.16 | 0.16 | 0.17 | 0.09 | 0.10 | 0.13 | 0.17 | 0.32 | 0.21 | 0.26 | 0.26 | 0.22 | 0.21 | 0.24 | 0.18 | 0.17 | 0.20 | 0.21 | — | — | — | — | ||||||||
| Super Micro Computer Inc. | 1.78 | 1.05 | 0.73 | 0.71 | 1.23 | 0.36 | 0.34 | 0.32 | 0.33 | 0.33 | 0.18 | 0.18 | 0.17 | 0.21 | 0.25 | 0.24 | 0.23 | 0.47 | 0.51 | 0.30 | 0.38 | 0.46 | 0.41 | 0.41 | 0.30 | 0.16 | 0.14 | ||||||||
Based on: 10-Q (reporting date: 2025-04-26), 10-Q (reporting date: 2025-01-25), 10-Q (reporting date: 2024-10-26), 10-K (reporting date: 2024-07-27), 10-Q (reporting date: 2024-04-27), 10-Q (reporting date: 2024-01-27), 10-Q (reporting date: 2023-10-28), 10-K (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-Q (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-K (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-Q (reporting date: 2021-01-23), 10-Q (reporting date: 2020-10-24), 10-K (reporting date: 2020-07-25), 10-Q (reporting date: 2020-04-25), 10-Q (reporting date: 2020-01-25), 10-Q (reporting date: 2019-10-26), 10-K (reporting date: 2019-07-27), 10-Q (reporting date: 2019-04-27), 10-Q (reporting date: 2019-01-26), 10-Q (reporting date: 2018-10-27).
1 Q3 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 15,642 ÷ 34,495 = 0.45
2 Click competitor name to see calculations.
The financial data over the reported periods reveal several notable trends in liquidity and short-term financial management.
- Total Cash Assets
- There is a clear downward trend in total cash assets from October 2018 through the subsequent years, with values declining from approximately 42.6 billion US dollars to around 15.6 billion US dollars by April 2025. Though minor recoveries are sometimes observed between quarters, the overall pattern is a consistent reduction in cash holdings across the quarters.
- Current Liabilities
- Current liabilities fluctuate over the same period, starting near 26.4 billion US dollars and peaking significantly in the later periods, reaching over 40 billion US dollars in 2024. This increase suggests rising short-term obligations, with notable spikes in the most recent quarters compared to earlier periods. The data indicates an expansion of current liabilities despite occasional moderate decreases.
- Cash Ratio
- The cash ratio, representing cash assets relative to current liabilities, shows a declining trend from a high of 1.61 in late 2018 to below 0.5 in 2024 and 2025. Initially above 1, indicating ample cash coverage for current liabilities, the ratio steadily decreases below 1 from around mid-2019 onwards, suggesting a weakening liquidity position. By 2024 and 2025, the ratio falls to less than half, reflecting a significant imbalance between cash holdings and immediate liabilities.
Overall, the data imply a gradual erosion of liquidity, as cash reserves decrease while current liabilities notably increase, thereby reducing the cash ratio. This evolving financial structure might warrant a close monitoring of liquidity risk and the company’s ability to meet short-term obligations with readily available cash.