Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
ON Semiconductor Corp., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
- Current ratio
- The current ratio exhibits fluctuating behavior throughout the analyzed periods. Starting at 2.31 in March 2019, it showed a decrease reaching its lowest point at 1.54 in September 2019. Following this decline, the ratio recovered somewhat, stabilizing between 1.66 and 2.35 until the end of 2020. From 2021 onward, the current ratio demonstrates a generally upward trend, peaking at 3.01 in September 2022 before slightly declining but remaining above 2.20 in early 2024. This suggests an overall strengthening in short-term liquidity over time, despite some volatility.
- Quick ratio
- The quick ratio mirrors the volatility seen in the current ratio but on a lower scale. Initially, it dipped from 1.25 in March 2019 to a low of 0.82 in September 2019, indicating reduced immediate liquidity. From early 2020, the ratio steadily improved, rising from 1.52 in April 2020 to a peak of 1.88 in September 2022. After this peak, it showed some minor fluctuations but remained relatively stable above 1.40 through early 2024. The trend indicates enhanced ability to cover short-term liabilities without relying on inventory, reflecting improved liquidity management.
- Cash ratio
- The cash ratio displayed the most pronounced volatility among the liquidity ratios. It started at 0.71 in March 2019, decreased to a trough of 0.46 in September 2019, then climbed sharply to 1.14 by April 2020. This elevated level was maintained with minor fluctuations, rising gradually to 1.39 in September 2022. After a slight dip, the ratio hovered around 1.05 to 1.22 entering 2024. The improvement in the cash ratio suggests increased cash and cash equivalents relative to current liabilities, highlighting a stronger liquidity position with readily available funds.
- Overall liquidity analysis
- All three liquidity ratios showed a notable dip during the middle of 2019, indicating a period of tighter liquidity. Subsequently, the company's liquidity position improved significantly, reaching stable and elevated levels by late 2022 and maintaining these through early 2024. The cash ratio's increase implies better cash reserves, while both the current and quick ratios support an enhanced capacity to meet short-term obligations. These trends reflect an overall improvement in liquidity management over the observed timeframe.
Current Ratio
ON Semiconductor Corp., current ratio calculation (quarterly data)
| Mar 29, 2024 | Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Oct 2, 2020 | Jul 3, 2020 | Apr 3, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Current assets | 6,148,900) | 5,912,300) | 6,085,400) | 5,930,200) | 5,716,300) | 5,729,400) | 5,309,400) | 4,785,300) | 4,367,400) | 3,781,600) | 3,641,800) | 3,229,900) | 3,187,600) | 3,184,100) | 3,812,600) | 4,144,400) | 4,032,300) | 3,020,000) | 3,073,000) | 3,064,200) | 3,046,700) | |||||||
| Current liabilities | 2,139,000) | 2,183,600) | 2,494,800) | 2,480,700) | 2,580,000) | 2,061,400) | 1,761,000) | 1,713,300) | 1,566,100) | 1,543,400) | 1,444,100) | 1,455,100) | 1,730,000) | 1,674,500) | 1,803,100) | 1,764,600) | 1,736,100) | 1,818,400) | 2,001,600) | 1,266,800) | 1,317,500) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||
| Current ratio1 | 2.87 | 2.71 | 2.44 | 2.39 | 2.22 | 2.78 | 3.01 | 2.79 | 2.79 | 2.45 | 2.52 | 2.22 | 1.84 | 1.90 | 2.11 | 2.35 | 2.32 | 1.66 | 1.54 | 2.42 | 2.31 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | 2.64 | 2.51 | 2.19 | 2.18 | 2.38 | 2.36 | 2.16 | 2.44 | 2.40 | 2.02 | 2.24 | 2.70 | 2.51 | 2.54 | 2.28 | 2.10 | 2.21 | — | — | — | — | |||||||
| Analog Devices Inc. | 1.51 | 1.37 | 1.71 | 1.79 | 2.12 | 2.02 | 1.92 | 1.99 | 2.09 | 1.94 | 1.11 | 1.05 | 1.57 | 1.84 | 1.47 | 1.30 | 1.08 | 1.32 | 1.35 | 1.52 | 2.34 | |||||||
| Applied Materials Inc. | 2.71 | 2.60 | 2.30 | 2.26 | 2.31 | 2.16 | 2.26 | 2.29 | 2.51 | 2.54 | 2.98 | 3.10 | 3.17 | 3.00 | 2.86 | 2.67 | 2.36 | 2.30 | 2.65 | 2.79 | 2.72 | |||||||
| Broadcom Inc. | 1.33 | 2.82 | 2.50 | 2.38 | 2.52 | 2.62 | 2.32 | 2.14 | 2.44 | 2.64 | 2.41 | 2.21 | 2.14 | 1.87 | 2.04 | 2.15 | 1.56 | 1.44 | 1.32 | 1.26 | 1.27 | |||||||
| Intel Corp. | 1.57 | 1.54 | 1.53 | 1.60 | 1.76 | 1.57 | 1.77 | 1.86 | 2.13 | 2.10 | 2.07 | 1.99 | 1.90 | 1.91 | 1.66 | 1.97 | 1.74 | — | — | — | — | |||||||
| KLA Corp. | 2.21 | 2.24 | 2.35 | 2.34 | 2.43 | 2.50 | 2.33 | 2.41 | 2.44 | 2.71 | 2.66 | 2.59 | 2.72 | 2.78 | 2.61 | 2.55 | 2.24 | 2.44 | 2.61 | 3.03 | 3.45 | |||||||
| Lam Research Corp. | 3.06 | 3.16 | 3.09 | 3.01 | 2.69 | 2.69 | 2.83 | 3.13 | 3.27 | 3.30 | 3.13 | 3.19 | 3.31 | 3.43 | 4.47 | 3.30 | 3.59 | 3.61 | 3.37 | 3.39 | 2.66 | |||||||
| Micron Technology Inc. | 3.53 | 4.46 | 4.26 | 4.17 | 3.51 | 2.89 | 3.24 | 3.11 | 3.10 | 3.10 | 3.40 | 3.18 | 2.91 | 2.71 | 2.89 | 2.74 | 2.56 | 2.58 | 2.79 | 2.25 | 2.90 | |||||||
| NVIDIA Corp. | 3.43 | 3.52 | 3.39 | 3.62 | 5.32 | 6.65 | 7.14 | 5.80 | 4.53 | 4.09 | 3.92 | 6.09 | 10.29 | 7.67 | 8.42 | 8.65 | 8.98 | — | — | — | — | |||||||
| Qualcomm Inc. | 2.56 | 2.33 | 2.42 | 2.42 | 2.09 | 1.75 | 1.61 | 1.61 | 1.65 | 1.68 | 1.72 | 2.02 | 2.15 | 2.14 | 1.97 | 1.57 | 1.76 | 1.88 | 1.77 | 1.55 | 1.54 | |||||||
| Texas Instruments Inc. | 4.91 | 4.55 | 5.69 | 5.72 | 5.17 | 4.70 | 4.92 | 5.09 | 5.54 | 5.33 | 5.63 | 5.08 | 6.12 | 4.28 | 4.24 | 3.92 | 3.49 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q1 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 6,148,900 ÷ 2,139,000 = 2.87
2 Click competitor name to see calculations.
- Current Assets
- The current assets demonstrate a fluctuating but overall increasing trend from March 2019 through March 2024. Starting at approximately $3.05 billion in early 2019, the figure rose sharply in the first half of 2020, peaking initially around $4.14 billion. After a brief decline towards the end of 2020, there was a consistent upward movement from 2021 onwards, reaching a high near $6.15 billion by the first quarter of 2024. This indicates a growing pool of liquid and short-term assets available to the company over the analyzed periods.
- Current Liabilities
- Current liabilities saw moderate fluctuations but exhibit a generally increasing trajectory over the same timeframe. Beginning at approximately $1.32 billion in early 2019, liabilities decreased somewhat mid-2019, only to rise again and display notable volatility through the years. Significant increases were observed in late 2022 and early 2023, where liabilities peaked above $2.5 billion. Towards early 2024, there is a mild reduction, lowering to approximately $2.14 billion. This indicates that while obligations have grown, recent quarters show some improvement in managing short-term liabilities.
- Current Ratio
- The current ratio reflects the company’s liquidity position and ability to cover short-term obligations with current assets. Starting at 2.31 in March 2019, there was a decline to a low of 1.54 by the third quarter of 2019, signalling tighter liquidity conditions at that point. Following this, the ratio recovered and generally improved, stabilizing around 2.3 to 2.5 for much of 2020 and 2021. A notable upward trend is visible from early 2022, peaking above 3.0 in the third quarter of 2022, indicating enhanced liquidity strength. Although the ratio decreased somewhat in 2023, it remained above 2.2, improving again to approximately 2.87 by March 2024. This suggests the company has successfully maintained a healthy liquidity buffer over the period, with some cyclical variations.
Quick Ratio
ON Semiconductor Corp., quick ratio calculation (quarterly data)
| Mar 29, 2024 | Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Oct 2, 2020 | Jul 3, 2020 | Apr 3, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Cash and cash equivalents | 2,614,400) | 2,483,000) | 2,679,200) | 2,622,200) | 2,702,400) | 2,919,000) | 2,450,200) | 1,791,600) | 1,645,100) | 1,352,600) | 1,389,200) | 1,091,100) | 1,042,500) | 1,080,700) | 1,654,000) | 2,060,400) | 1,982,000) | 894,200) | 928,700) | 885,200) | 939,600) | |||||||
| Receivables, net | 873,300) | 935,400) | 958,200) | 944,400) | 880,900) | 842,300) | 857,300) | 1,138,100) | 910,700) | 809,400) | 720,000) | 669,100) | 683,600) | 676,000) | 728,100) | 667,400) | 652,000) | 705,000) | 716,600) | 713,200) | 704,000) | |||||||
| Total quick assets | 3,487,700) | 3,418,400) | 3,637,400) | 3,566,600) | 3,583,300) | 3,761,300) | 3,307,500) | 2,929,700) | 2,555,800) | 2,162,000) | 2,109,200) | 1,760,200) | 1,726,100) | 1,756,700) | 2,382,100) | 2,727,800) | 2,634,000) | 1,599,200) | 1,645,300) | 1,598,400) | 1,643,600) | |||||||
| Current liabilities | 2,139,000) | 2,183,600) | 2,494,800) | 2,480,700) | 2,580,000) | 2,061,400) | 1,761,000) | 1,713,300) | 1,566,100) | 1,543,400) | 1,444,100) | 1,455,100) | 1,730,000) | 1,674,500) | 1,803,100) | 1,764,600) | 1,736,100) | 1,818,400) | 2,001,600) | 1,266,800) | 1,317,500) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||
| Quick ratio1 | 1.63 | 1.57 | 1.46 | 1.44 | 1.39 | 1.82 | 1.88 | 1.71 | 1.63 | 1.40 | 1.46 | 1.21 | 1.00 | 1.05 | 1.32 | 1.55 | 1.52 | 0.88 | 0.82 | 1.26 | 1.25 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | 1.71 | 1.67 | 1.42 | 1.40 | 1.52 | 1.57 | 1.48 | 1.82 | 1.83 | 1.49 | 1.64 | 2.01 | 1.85 | 1.80 | 1.62 | 1.46 | 1.55 | — | — | — | — | |||||||
| Analog Devices Inc. | 0.86 | 0.76 | 0.98 | 1.06 | 1.36 | 1.34 | 1.34 | 1.44 | 1.54 | 1.24 | 0.82 | 0.76 | 1.12 | 1.31 | 1.05 | 0.87 | 0.70 | 0.85 | 0.88 | 1.03 | 1.55 | |||||||
| Applied Materials Inc. | 1.72 | 1.63 | 1.43 | 1.35 | 1.30 | 1.17 | 1.24 | 1.32 | 1.62 | 1.64 | 2.02 | 2.10 | 2.15 | 1.95 | 1.76 | 1.75 | 1.45 | 1.38 | 1.57 | 1.63 | 1.63 | |||||||
| Broadcom Inc. | 0.83 | 2.34 | 2.04 | 1.94 | 2.12 | 2.18 | 1.89 | 1.75 | 2.03 | 2.27 | 2.05 | 1.86 | 1.80 | 1.56 | 1.72 | 1.88 | 1.30 | 1.21 | 1.09 | 1.04 | 1.05 | |||||||
| Intel Corp. | 0.91 | 1.01 | 0.97 | 1.00 | 1.15 | 1.01 | 1.08 | 1.22 | 1.56 | 1.38 | 1.46 | 1.30 | 1.23 | 1.24 | 1.15 | 1.48 | 1.22 | — | — | — | — | |||||||
| KLA Corp. | 1.30 | 1.33 | 1.41 | 1.48 | 1.53 | 1.57 | 1.48 | 1.63 | 1.62 | 1.81 | 1.80 | 1.74 | 1.76 | 1.82 | 1.67 | 1.67 | 1.45 | 1.54 | 1.68 | 2.26 | 2.58 | |||||||
| Lam Research Corp. | 1.87 | 1.95 | 1.93 | 1.88 | 1.75 | 1.72 | 1.88 | 2.20 | 2.18 | 2.11 | 1.79 | 1.83 | 1.89 | 2.22 | 2.92 | 1.97 | 2.54 | 2.16 | 2.30 | 2.41 | 1.56 | |||||||
| Micron Technology Inc. | 2.01 | 2.53 | 2.50 | 2.49 | 2.13 | 1.92 | 2.35 | 2.24 | 2.28 | 2.17 | 2.30 | 1.94 | 1.89 | 1.82 | 1.98 | 1.81 | 1.74 | 1.74 | 1.84 | 1.62 | 2.12 | |||||||
| NVIDIA Corp. | 2.67 | 2.61 | 2.63 | 2.95 | 4.63 | 5.96 | 6.44 | 5.22 | 3.92 | 3.56 | 3.46 | 5.42 | 9.60 | 7.04 | 7.61 | 7.62 | 7.64 | — | — | — | — | |||||||
| Qualcomm Inc. | 1.70 | 1.51 | 1.47 | 1.32 | 1.21 | 1.01 | 0.90 | 1.16 | 1.25 | 1.34 | 1.38 | 1.64 | 1.78 | 1.75 | 1.57 | 1.33 | 1.54 | 1.65 | 1.54 | 1.33 | 1.30 | |||||||
| Texas Instruments Inc. | 3.40 | 3.12 | 4.12 | 4.24 | 3.93 | 3.67 | 3.98 | 4.13 | 4.60 | 4.45 | 4.74 | 4.08 | 4.86 | 3.34 | 3.16 | 2.84 | 2.54 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q1 2024 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 3,487,700 ÷ 2,139,000 = 1.63
2 Click competitor name to see calculations.
- Total Quick Assets
- The total quick assets exhibit a general upward trend over the analyzed periods. Starting from approximately 1,643,600 thousand USD in the first quarter of 2019, the figures fluctuate slightly in 2019 before increasing substantially in 2020. The lowest point during 2020 is reached in December at 1,756,700 thousand USD, followed by consistent growth throughout 2021 and 2022, culminating in a peak of 3,761,300 thousand USD in the last quarter of 2022. Although there is a minor decline in the first quarter of 2023, the values remain elevated above earlier periods, stabilizing around the 3,400,000 thousand USD range towards early 2024.
- Current Liabilities
- Current liabilities show notable variability across the quarters. From 1,317,500 thousand USD in early 2019, liabilities increased markedly in the middle of that year, peaking at 2,001,600 thousand USD in September 2019, before declining gradually during 2020, with some fluctuations. Post-2020, liabilities tended to increase again, reaching a high point of 2,581,000 thousand USD in the first quarter of 2023. A subsequent decline is observed towards the end of the data series, lowering to around 2,139,000 thousand USD by the first quarter of 2024, indicating some reduction in short-term obligations recently.
- Quick Ratio
- The quick ratio demonstrates significant recovery and improvement over the period. Initially, it was slightly above 1.2 in early 2019 but decreased to a low of 0.82 in September 2019 and 0.88 in December 2019, indicating a weaker short-term liquidity position at that time. From early 2020 onwards, the quick ratio improved sharply, rising to over 1.5 in the middle quarters of 2020. Although it dipped slightly to just above 1.0 by the end of 2020 and early 2021, the ratio consistently increased thereafter, peaking at 1.88 by the third quarter of 2022. A minor decline follows but the ratio remains solid above 1.4, suggesting a stable and strong liquidity position into early 2024.
- Overall Analysis
- The data reflect an overall trend of increasing liquidity and asset base relative to current liabilities over the observed time horizon. The rise in total quick assets combined with a manageable level of current liabilities contributes to a strengthening quick ratio, which is an important indicator of short-term financial health. The periods of lower liquidity ratios in late 2019 highlight transient challenges, but these are followed by sustained improvements. The company's ability to maintain a quick ratio consistently above 1.0 in recent years suggests sound liquidity management, with quick assets adequately covering short-term liabilities. The fluctuations in current liabilities indicate periods of changing operating or financing activities but have not adversely affected the overall liquidity position in the longer term.
Cash Ratio
ON Semiconductor Corp., cash ratio calculation (quarterly data)
| Mar 29, 2024 | Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Oct 2, 2020 | Jul 3, 2020 | Apr 3, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Cash and cash equivalents | 2,614,400) | 2,483,000) | 2,679,200) | 2,622,200) | 2,702,400) | 2,919,000) | 2,450,200) | 1,791,600) | 1,645,100) | 1,352,600) | 1,389,200) | 1,091,100) | 1,042,500) | 1,080,700) | 1,654,000) | 2,060,400) | 1,982,000) | 894,200) | 928,700) | 885,200) | 939,600) | |||||||
| Total cash assets | 2,614,400) | 2,483,000) | 2,679,200) | 2,622,200) | 2,702,400) | 2,919,000) | 2,450,200) | 1,791,600) | 1,645,100) | 1,352,600) | 1,389,200) | 1,091,100) | 1,042,500) | 1,080,700) | 1,654,000) | 2,060,400) | 1,982,000) | 894,200) | 928,700) | 885,200) | 939,600) | |||||||
| Current liabilities | 2,139,000) | 2,183,600) | 2,494,800) | 2,480,700) | 2,580,000) | 2,061,400) | 1,761,000) | 1,713,300) | 1,566,100) | 1,543,400) | 1,444,100) | 1,455,100) | 1,730,000) | 1,674,500) | 1,803,100) | 1,764,600) | 1,736,100) | 1,818,400) | 2,001,600) | 1,266,800) | 1,317,500) | |||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||
| Cash ratio1 | 1.22 | 1.14 | 1.07 | 1.06 | 1.05 | 1.42 | 1.39 | 1.05 | 1.05 | 0.88 | 0.96 | 0.75 | 0.60 | 0.65 | 0.92 | 1.17 | 1.14 | 0.49 | 0.46 | 0.70 | 0.71 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | 0.93 | 0.86 | 0.76 | 0.83 | 0.90 | 0.92 | 0.84 | 1.08 | 1.17 | 0.85 | 1.01 | 1.31 | 1.09 | 0.95 | 0.73 | 0.73 | 0.70 | — | — | — | — | |||||||
| Analog Devices Inc. | 0.45 | 0.30 | 0.41 | 0.44 | 0.69 | 0.60 | 0.62 | 0.75 | 0.81 | 0.71 | 0.53 | 0.47 | 0.63 | 0.77 | 0.65 | 0.50 | 0.37 | 0.43 | 0.41 | 0.52 | 0.71 | |||||||
| Applied Materials Inc. | 1.06 | 0.93 | 0.79 | 0.65 | 0.56 | 0.35 | 0.52 | 0.59 | 0.92 | 0.86 | 1.27 | 1.40 | 1.47 | 1.29 | 1.11 | 1.20 | 0.87 | 0.81 | 0.94 | 1.00 | 0.98 | |||||||
| Broadcom Inc. | 0.58 | 1.92 | 1.64 | 1.54 | 1.69 | 1.76 | 1.49 | 1.30 | 1.63 | 1.94 | 1.71 | 1.48 | 1.43 | 1.20 | 1.32 | 1.39 | 0.83 | 0.73 | 0.66 | 0.63 | 0.61 | |||||||
| Intel Corp. | 0.78 | 0.89 | 0.87 | 0.89 | 1.01 | 0.88 | 0.81 | 0.99 | 1.32 | 1.03 | 1.17 | 1.00 | 0.93 | 0.97 | 0.83 | 1.15 | 0.87 | — | — | — | — | |||||||
| KLA Corp. | 0.88 | 0.87 | 0.85 | 0.82 | 0.94 | 0.94 | 0.91 | 1.01 | 1.04 | 1.19 | 1.20 | 1.14 | 1.17 | 1.17 | 0.99 | 0.98 | 0.90 | 0.98 | 1.12 | 1.82 | 2.12 | |||||||
| Lam Research Corp. | 1.21 | 1.28 | 1.19 | 0.99 | 0.84 | 0.77 | 1.00 | 1.32 | 1.19 | 1.25 | 1.02 | 1.03 | 1.21 | 1.55 | 1.88 | 1.18 | 1.87 | 1.54 | 1.76 | 1.55 | 0.91 | |||||||
| Micron Technology Inc. | 1.52 | 2.01 | 2.03 | 2.06 | 1.62 | 1.24 | 1.46 | 1.46 | 1.47 | 1.34 | 1.53 | 1.32 | 1.24 | 1.23 | 1.40 | 1.28 | 1.20 | 1.24 | 1.24 | 1.02 | 1.07 | |||||||
| NVIDIA Corp. | 2.11 | 2.03 | 1.92 | 2.25 | 3.66 | 4.89 | 5.34 | 4.42 | 3.16 | 2.95 | 2.76 | 4.56 | 8.59 | 6.11 | 6.62 | 6.44 | 6.60 | — | — | — | — | |||||||
| Qualcomm Inc. | 1.31 | 1.18 | 1.02 | 0.85 | 0.82 | 0.54 | 0.58 | 0.86 | 0.92 | 1.04 | 1.13 | 1.27 | 1.33 | 1.29 | 1.34 | 1.02 | 1.24 | 1.37 | 1.32 | 0.98 | 0.98 | |||||||
| Texas Instruments Inc. | 2.93 | 2.58 | 3.37 | 3.52 | 3.29 | 3.04 | 3.25 | 3.28 | 3.89 | 3.79 | 4.05 | 3.36 | 3.93 | 2.75 | 2.53 | 2.29 | 1.99 | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-10-02), 10-Q (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q1 2024 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 2,614,400 ÷ 2,139,000 = 1.22
2 Click competitor name to see calculations.
- Total Cash Assets
- The total cash assets demonstrated fluctuations over the observed periods with a notable surge starting in the quarter ending April 3, 2020. Initial values hovered around the 885 million to 939 million range before nearly doubling to almost 2 billion by April 2020. Following this spike, cash assets experienced volatility but generally trended upward, reaching a peak of approximately 2.9 billion by December 31, 2022. Subsequently, a mild decline occurred through early 2024, although levels remained significantly higher compared to the pre-2020 period.
- Current Liabilities
- Current liabilities showed variability throughout the quarters with some pronounced increases. Initially ranging from around 1.26 billion to 2 billion before 2020, liabilities largely stabilized around 1.6 to 1.8 billion during the mid-2020 period. An upward trend emerged subsequently, culminating in a peak exceeding 2.5 billion by March 31, 2023. Afterwards, liabilities decreased marginally, dropping to approximately 2.1 billion by the latest quarter, though remaining elevated relative to earlier years.
- Cash Ratio
- The cash ratio exhibited significant variation but an overall upward trend over the time frame. Early ratios were below 1, indicating that cash assets were less than current liabilities. A marked increase occurred in the second quarter of 2020, where the ratio surpassed 1, peaking near 1.17, then dipping temporarily before starting a steady ascent from early 2021 onward. From 2022 through early 2024, the ratio consistently stayed above 1, reaching as high as 1.42, signaling improved liquidity and a stronger capacity to cover short-term liabilities with cash and cash equivalents.
- Summary of Trends and Insights
- The financial data suggests a strategic accumulation of cash assets beginning in early 2020, possibly reflecting a shift toward enhanced liquidity management. Concurrently, current liabilities showed increments with peaks in early 2023, likely indicating increased short-term obligations or operating activities. Despite the rise in liabilities, the cash ratio’s upward trend and sustained levels above 1 from 2020 onward imply that the company maintained a solid liquidity position, ensuring cash holdings were sufficient to meet immediate liabilities. The patterns reflect improved financial stability and an emphasis on liquidity resilience amid changing operational conditions over the recent years.