Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Walt Disney Co., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-K (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-Q (reporting date: 2021-01-02), 10-K (reporting date: 2020-10-03), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29).
The analysis of the liquidity ratios over the observed quarterly periods reveals notable fluctuations indicative of changing short-term financial positions.
- Current Ratio
- The current ratio exhibits variability, starting at a level of 1.00 at the end of 2018, declining to a low of 0.70 in mid-2019, and then improving substantially to peak around 1.34 by mid-2020. The ratio then maintains a level generally above 1.00 through early 2023, indicating an adequate ability to cover short-term liabilities with current assets during that time frame. However, from late 2023 onwards, there is a discernible downward trend, falling below 0.75 by the first quarter of 2025, hinting at potential tightening in liquidity and a reduced buffer to settle obligations in the near term.
- Quick Ratio
- The quick ratio follows a roughly similar pattern to the current ratio but generally remains lower, as expected given its more stringent measure of liquidity. Beginning at 0.83, it decreases to around 0.50 in the middle of 2019 before climbing sharply to 1.16 by mid-2020. Post this point, there is a steady period where the ratio hovers near or just below 1.00, indicating reasonable liquid asset coverage excluding inventories. From early 2023, the ratio diminishes steadily to approximately 0.54 by early 2025, which could signal increased reliance on less liquid current assets or a weakening quick liquidity position.
- Cash Ratio
- The cash ratio shows the most pronounced volatility, reflecting changes in the most liquid asset holdings. Initially measured at 0.25, it dips slightly and then rises substantially to a peak of 0.75 in mid-2020, coinciding with heightened liquidity measures observed in the other ratios during the same period. Following this peak, the cash ratio trends downward consistently through 2023 and into 2025, reaching a low near 0.16 by the first quarter of 2025. This declining trend suggests a reduction in cash or cash-equivalent reserves relative to current liabilities, potentially pointing to increased cash utilization or investment activities over liabilities.
Overall, the data indicates a period of enhanced liquidity around mid-2020, possibly due to strategic cash conservation or inflows, with subsequent gradual erosion of this position over the following quarters up to early 2025. The declining trends in all three ratios after 2023 warrant attention as they may reflect tighter liquidity conditions and a shrinking margin for meeting short-term financial commitments promptly.
Current Ratio
Walt Disney Co., current ratio calculation (quarterly data)
| Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Jan 1, 2022 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Jan 2, 2021 | Oct 3, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 28, 2019 | Sep 28, 2019 | Jun 29, 2019 | Mar 30, 2019 | Dec 29, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||||||
| Current assets | 22,735) | 23,667) | 25,241) | 25,493) | 24,636) | 25,971) | 32,763) | 30,174) | 28,263) | 26,912) | 29,098) | 31,422) | 31,427) | 32,913) | 33,657) | 33,966) | 32,877) | 34,874) | 35,251) | 41,330) | 33,274) | 27,776) | 28,124) | 31,370) | 34,277) | 17,537) | ||||||||
| Current liabilities | 34,029) | 34,846) | 34,599) | 35,612) | 32,874) | 31,033) | 31,139) | 28,234) | 28,056) | 27,070) | 29,073) | 30,704) | 29,601) | 30,037) | 31,077) | 27,413) | 26,642) | 26,546) | 26,628) | 30,917) | 35,473) | 34,797) | 31,341) | 44,593) | 44,376) | 17,619) | ||||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||||||||
| Current ratio1 | 0.67 | 0.68 | 0.73 | 0.72 | 0.75 | 0.84 | 1.05 | 1.07 | 1.01 | 0.99 | 1.00 | 1.02 | 1.06 | 1.10 | 1.08 | 1.24 | 1.23 | 1.31 | 1.32 | 1.34 | 0.94 | 0.80 | 0.90 | 0.70 | 0.77 | 1.00 | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||||||||||
| Alphabet Inc. | — | 1.77 | 1.84 | 1.95 | 2.08 | 2.15 | 2.10 | 2.04 | 2.17 | 2.35 | 2.38 | 2.52 | 2.81 | 2.87 | 2.93 | 2.98 | 3.15 | 3.10 | 3.07 | 3.41 | 3.41 | 3.66 | — | — | — | — | ||||||||
| Comcast Corp. | — | 0.65 | 0.68 | 0.72 | 0.66 | 0.59 | 0.60 | 0.70 | 0.76 | 0.69 | 0.78 | 0.84 | 0.88 | 0.86 | 0.85 | 1.03 | 0.92 | 0.96 | 0.93 | 0.93 | 0.97 | 0.87 | — | — | — | — | ||||||||
| Meta Platforms Inc. | — | 2.66 | 2.98 | 2.73 | 2.83 | 2.68 | 2.67 | 2.57 | 2.32 | 2.07 | 2.20 | 2.57 | 2.52 | 2.81 | 3.15 | 4.23 | 5.43 | 6.08 | 5.05 | 5.51 | 6.02 | 4.60 | — | — | — | — | ||||||||
| Netflix Inc. | — | 1.20 | 1.22 | 1.13 | 0.95 | 1.07 | 1.12 | 1.29 | 1.33 | 1.26 | 1.17 | 1.14 | 1.05 | 1.05 | 0.95 | 1.17 | 1.23 | 1.27 | 1.25 | 1.24 | 1.12 | 0.82 | — | — | — | — | ||||||||
| Take-Two Interactive Software Inc. | 0.85 | 0.90 | 0.94 | 0.82 | 0.85 | 0.82 | 0.65 | 0.87 | 0.94 | 0.92 | 1.84 | 1.79 | 1.65 | 1.85 | 1.89 | 1.78 | 1.69 | 1.72 | 1.71 | 1.64 | 1.48 | 1.45 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-K (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-Q (reporting date: 2021-01-02), 10-K (reporting date: 2020-10-03), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29).
1 Q2 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= 22,735 ÷ 34,029 = 0.67
2 Click competitor name to see calculations.
- Current Assets
- The current assets showed significant volatility throughout the analyzed periods. Starting at $17,537 million at the end of 2018, there was a sharp increase in the first quarter of 2019, reaching $34,277 million, followed by fluctuations that generally trended downward after mid-2020. Post the initial peak, the values mostly declined with occasional minor recoveries, reaching $22,735 million by the end of the latest period in March 2025. This indicates that current assets doubled early on, then gradually contracted over the subsequent years.
- Current Liabilities
- Current liabilities exhibited a similar pattern with substantial variability. Beginning at $17,619 million at the end of 2018, there was a rapid rise to a peak of $44,593 million in mid-2019. Subsequent periods showed a decline until late 2020, with amounts lowering to around $26,628 million, followed by intermittent increases and decreases. By March 2025, current liabilities stood at $34,029 million, which is almost double the starting value, indicating increasing short-term obligations over the longer term despite temporary reductions.
- Current Ratio
- The current ratio, an indicator of short-term liquidity, was initially at 1.00 in late 2018, then it declined notably during early 2019, reaching a low of 0.70 by mid-2019. A recovery phase is evident from mid-2020 through early 2021 where the ratio improved to around 1.31, signaling enhanced liquidity during that period. Following this peak, the ratio gradually decreased, fluctuating around the 1.0 mark before trending downward sharply in 2023 and early 2024, falling to 0.67 by March 2025. This decline below 1.0 suggests that, in recent periods, current liabilities have exceeded current assets, indicating potential short-term liquidity pressures.
- Overall Assessment
- The data points to volatile financial conditions with periods of both increased liquidity and tightening. The large early increases in both current assets and liabilities could reflect strategic operational changes or acquisitions, while the recent decline in current ratio below 1.0 signals a need to review the company's short-term financial management. The persistent decrease in current assets alongside sustained or rising current liabilities towards the latest periods suggests increased risk in meeting short-term obligations without additional financing or asset adjustments.
Quick Ratio
Walt Disney Co., quick ratio calculation (quarterly data)
| Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Jan 1, 2022 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Jan 2, 2021 | Oct 3, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 28, 2019 | Sep 28, 2019 | Jun 29, 2019 | Mar 30, 2019 | Dec 29, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | 5,852) | 5,486) | 6,002) | 5,954) | 6,635) | 7,192) | 14,182) | 11,458) | 10,399) | 8,470) | 11,615) | 12,959) | 13,272) | 14,444) | 15,959) | 16,070) | 15,890) | 17,068) | 17,914) | 23,115) | 14,339) | 6,833) | 5,418) | 6,728) | 10,108) | 4,455) | ||||||||
| Receivables, net | 12,571) | 13,767) | 12,729) | 12,966) | 12,026) | 14,115) | 12,330) | 13,112) | 12,770) | 13,993) | 12,652) | 13,685) | 13,746) | 14,882) | 13,367) | 13,355) | 12,533) | 14,051) | 12,708) | 12,622) | 14,532) | 17,100) | 15,481) | 15,673) | 14,593) | 10,123) | ||||||||
| Total quick assets | 18,423) | 19,253) | 18,731) | 18,920) | 18,661) | 21,307) | 26,512) | 24,570) | 23,169) | 22,463) | 24,267) | 26,644) | 27,018) | 29,326) | 29,326) | 29,425) | 28,423) | 31,119) | 30,622) | 35,737) | 28,871) | 23,933) | 20,899) | 22,401) | 24,701) | 14,578) | ||||||||
| Current liabilities | 34,029) | 34,846) | 34,599) | 35,612) | 32,874) | 31,033) | 31,139) | 28,234) | 28,056) | 27,070) | 29,073) | 30,704) | 29,601) | 30,037) | 31,077) | 27,413) | 26,642) | 26,546) | 26,628) | 30,917) | 35,473) | 34,797) | 31,341) | 44,593) | 44,376) | 17,619) | ||||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||||||||
| Quick ratio1 | 0.54 | 0.55 | 0.54 | 0.53 | 0.57 | 0.69 | 0.85 | 0.87 | 0.83 | 0.83 | 0.83 | 0.87 | 0.91 | 0.98 | 0.94 | 1.07 | 1.07 | 1.17 | 1.15 | 1.16 | 0.81 | 0.69 | 0.67 | 0.50 | 0.56 | 0.83 | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||||||||||
| Alphabet Inc. | — | 1.60 | 1.66 | 1.76 | 1.90 | 1.98 | 1.94 | 1.87 | 2.02 | 2.20 | 2.22 | 2.29 | 2.62 | 2.72 | 2.79 | 2.85 | 3.01 | 2.94 | 2.95 | 3.27 | 3.26 | 3.46 | — | — | — | — | ||||||||
| Comcast Corp. | — | 0.51 | 0.53 | 0.60 | 0.54 | 0.49 | 0.50 | 0.56 | 0.61 | 0.55 | 0.62 | 0.63 | 0.68 | 0.71 | 0.71 | 0.89 | 0.80 | 0.84 | 0.81 | 0.81 | 0.85 | 0.70 | — | — | — | — | ||||||||
| Meta Platforms Inc. | — | 2.50 | 2.82 | 2.57 | 2.69 | 2.55 | 2.55 | 2.43 | 2.20 | 1.91 | 2.01 | 2.34 | 2.34 | 2.62 | 2.94 | 3.94 | 5.09 | 5.86 | 4.89 | 5.33 | 5.81 | 4.48 | — | — | — | — | ||||||||
| Netflix Inc. | — | 0.86 | 0.89 | 0.86 | 0.66 | 0.76 | 0.81 | 0.94 | 0.99 | 0.94 | 0.76 | 0.79 | 0.78 | 0.78 | 0.71 | 0.94 | 0.99 | 1.06 | 1.05 | 1.06 | 0.94 | 0.66 | — | — | — | — | ||||||||
| Take-Two Interactive Software Inc. | 0.65 | 0.70 | 0.71 | 0.66 | 0.68 | 0.69 | 0.54 | 0.72 | 0.79 | 0.75 | 1.66 | 1.63 | 1.50 | 1.70 | 1.71 | 1.61 | 1.56 | 1.60 | 1.54 | 1.47 | 1.32 | 1.30 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-K (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-Q (reporting date: 2021-01-02), 10-K (reporting date: 2020-10-03), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29).
1 Q2 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 18,423 ÷ 34,029 = 0.54
2 Click competitor name to see calculations.
- Total Quick Assets
- The total quick assets exhibited significant fluctuations over the analyzed period. Starting at 14,578 million USD in December 2018, the value increased sharply to a peak of 35,737 million USD in June 2020. Following this peak, a general declining trend is observed, with occasional minor recoveries, reaching approximately 18,423 million USD by March 2025. The increase through early 2020 may relate to strategic liquidity positioning, while the gradual reduction thereafter suggests either asset utilization or changes in operational cash management.
- Current Liabilities
- Current liabilities showed considerable variability across the quarters. From 17,619 million USD at the end of 2018, liabilities escalated markedly to 44,593 million USD by March 2019, before decreasing to a lower range of roughly 26,000 to 35,000 million USD in the subsequent years. In the final quarters analyzed (2024-2025), liabilities remain elevated, oscillating near the mid-30,000 million USD level. This pattern indicates fluctuating short-term obligations, possibly influenced by operational cycles or financing activities.
- Quick Ratio
- The quick ratio, representing liquidity, displays a downward trend after mid-2020. Initially low at around 0.83 in late 2018, it declined to 0.5 by mid-2019, then improved significantly to above 1.1 in late 2020 and early 2021, reflecting strong short-term liquidity during that period. However, from 2022 onwards, the quick ratio steadily decreased to around 0.54 by early 2025. This declining liquidity ratio suggests a tightening in the company's ability to cover current liabilities with its most liquid assets over time, which may be a result of increased liabilities or decreased quick assets.
- Overall Insights
- The data indicate a period of increasing liquidity and asset levels up to mid-2020, followed by a sustained decline in quick assets and liquidity ratios through 2025. Simultaneously, current liabilities remain elevated and somewhat volatile, contributing to the compressed quick ratio. The overall trend points to a potential pressure on short-term financial flexibility in recent years, warranting close monitoring of liquidity management and current liability obligations.
Cash Ratio
Walt Disney Co., cash ratio calculation (quarterly data)
| Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Jan 1, 2022 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Jan 2, 2021 | Oct 3, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 28, 2019 | Sep 28, 2019 | Jun 29, 2019 | Mar 30, 2019 | Dec 29, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | 5,852) | 5,486) | 6,002) | 5,954) | 6,635) | 7,192) | 14,182) | 11,458) | 10,399) | 8,470) | 11,615) | 12,959) | 13,272) | 14,444) | 15,959) | 16,070) | 15,890) | 17,068) | 17,914) | 23,115) | 14,339) | 6,833) | 5,418) | 6,728) | 10,108) | 4,455) | ||||||||
| Total cash assets | 5,852) | 5,486) | 6,002) | 5,954) | 6,635) | 7,192) | 14,182) | 11,458) | 10,399) | 8,470) | 11,615) | 12,959) | 13,272) | 14,444) | 15,959) | 16,070) | 15,890) | 17,068) | 17,914) | 23,115) | 14,339) | 6,833) | 5,418) | 6,728) | 10,108) | 4,455) | ||||||||
| Current liabilities | 34,029) | 34,846) | 34,599) | 35,612) | 32,874) | 31,033) | 31,139) | 28,234) | 28,056) | 27,070) | 29,073) | 30,704) | 29,601) | 30,037) | 31,077) | 27,413) | 26,642) | 26,546) | 26,628) | 30,917) | 35,473) | 34,797) | 31,341) | 44,593) | 44,376) | 17,619) | ||||||||
| Liquidity Ratio | ||||||||||||||||||||||||||||||||||
| Cash ratio1 | 0.17 | 0.16 | 0.17 | 0.17 | 0.20 | 0.23 | 0.46 | 0.41 | 0.37 | 0.31 | 0.40 | 0.42 | 0.45 | 0.48 | 0.51 | 0.59 | 0.60 | 0.64 | 0.67 | 0.75 | 0.40 | 0.20 | 0.17 | 0.15 | 0.23 | 0.25 | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||||||||||
| Alphabet Inc. | — | 1.04 | 1.07 | 1.15 | 1.29 | 1.40 | 1.36 | 1.39 | 1.52 | 1.67 | 1.64 | 1.76 | 2.04 | 2.16 | 2.17 | 2.30 | 2.44 | 2.44 | 2.41 | 2.75 | 2.77 | 2.92 | — | — | — | — | ||||||||
| Comcast Corp. | — | 0.20 | 0.18 | 0.23 | 0.17 | 0.16 | 0.15 | 0.19 | 0.22 | 0.17 | 0.17 | 0.20 | 0.25 | 0.30 | 0.30 | 0.44 | 0.42 | 0.49 | 0.41 | 0.46 | 0.49 | 0.31 | — | — | — | — | ||||||||
| Meta Platforms Inc. | — | 2.07 | 2.32 | 2.13 | 2.15 | 2.07 | 2.05 | 2.00 | 1.79 | 1.48 | 1.51 | 1.84 | 1.82 | 2.08 | 2.27 | 3.26 | 4.31 | 5.05 | 4.14 | 4.66 | 5.15 | 4.00 | — | — | — | — | ||||||||
| Netflix Inc. | — | 0.86 | 0.89 | 0.86 | 0.66 | 0.76 | 0.81 | 0.94 | 0.99 | 0.94 | 0.76 | 0.79 | 0.78 | 0.78 | 0.71 | 0.94 | 0.99 | 1.06 | 1.05 | 1.06 | 0.94 | 0.66 | — | — | — | — | ||||||||
| Take-Two Interactive Software Inc. | 0.39 | 0.49 | 0.43 | 0.41 | 0.41 | 0.46 | 0.34 | 0.49 | 0.55 | 0.56 | 1.38 | 1.32 | 1.19 | 1.47 | 1.46 | 1.36 | 1.22 | 1.28 | 1.25 | 1.16 | 0.95 | 1.12 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-K (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-K (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-Q (reporting date: 2021-01-02), 10-K (reporting date: 2020-10-03), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-K (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30), 10-Q (reporting date: 2018-12-29).
1 Q2 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 5,852 ÷ 34,029 = 0.17
2 Click competitor name to see calculations.
- Total Cash Assets
- The total cash assets exhibited a notable increase from approximately $4.5 billion at the end of 2018 to a peak of $23.1 billion in mid-2020. This sharp rise coincides with the early phase of the pandemic period, suggesting a strategic buildup of cash reserves. Subsequently, there was a gradual decline in cash holdings, falling to around $11.6 billion by the end of 2022. From 2023 onwards, cash levels fluctuated moderately, decreasing to approximately $5.5 billion by late 2024 and early 2025, indicating a possible drawdown of cash resources or increased expenditures.
- Current Liabilities
- Current liabilities showed significant volatility, with values soaring from about $17.6 billion at the close of 2018 to a high of approximately $44.4 billion in early 2019, and remaining elevated around $44.6 billion in the following quarter. After this peak, liabilities decreased and stabilized between $26 billion and $31 billion through late 2019 and much of 2020. From 2021 to early 2023, current liabilities maintained a range generally between $27 billion and $31 billion, but a marked increase occurred starting mid-2023, peaking over $35.6 billion towards the end of 2024 before slightly declining near $34 billion in early 2025. This pattern indicates periods of both accumulation and reduction in short-term obligations.
- Cash Ratio
- The cash ratio followed a trajectory aligned with the cash asset and liability movements. It started at 0.25 in late 2018, remained relatively low through 2019, then surged to a peak of 0.75 in mid-2020, reflecting strong liquidity during that period. Following this, the cash ratio declined steadily, falling below 0.5 by early 2021 and continuing to decrease through 2022 and 2023, reaching lows around 0.16 to 0.17 by late 2024 and early 2025. This suggests a reduction in the company's ability to cover current liabilities purely with cash, indicating a shift toward lower immediate liquidity.