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The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated as a company's Total Current Assets divides by its Total Current Liabilities. Myriad Genetics's current ratio for the quarter that ended in Dec. 2023 was 2.01.
Myriad Genetics has a current ratio of 2.01. It generally indicates good short-term financial strength.
The historical rank and industry rank for Myriad Genetics's Current Ratio or its related term are showing as below:
During the past 13 years, Myriad Genetics's highest Current Ratio was 4.35. The lowest was 1.39. And the median was 2.67.
The historical data trend for Myriad Genetics's Current Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Myriad Genetics Annual Data | |||||||||||||||||||||
Trend | Jun14 | Jun15 | Jun16 | Jun17 | Jun18 | Jun19 | Jun20 | Dec21 | Dec22 | Dec23 | |||||||||||
Current Ratio | Get a 7-Day Free Trial | 2.96 | 2.26 | 2.37 | 2.00 | 2.01 |
Myriad Genetics Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Current Ratio | Get a 7-Day Free Trial | 2.00 | 1.83 | 1.33 | 1.27 | 2.01 |
For the Diagnostics & Research subindustry, Myriad Genetics's Current Ratio, along with its competitors' market caps and Current Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Medical Diagnostics & Research industry and Healthcare sector, Myriad Genetics's Current Ratio distribution charts can be found below:
* The bar in red indicates where Myriad Genetics's Current Ratio falls into.
The current ratio is mainly used to give an idea of the company's ability to pay back its short-term liabilities with its short-term assets.
Myriad Genetics's Current Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Current Ratio (A: Dec. 2023 ) | = | Total Current Assets (A: Dec. 2023 ) | / | Total Current Liabilities (A: Dec. 2023 ) |
= | 313.6 | / | 155.9 | |
= | 2.01 |
Myriad Genetics's Current Ratio for the quarter that ended in Dec. 2023 is calculated as
Current Ratio (Q: Dec. 2023 ) | = | Total Current Assets (Q: Dec. 2023 ) | / | Total Current Liabilities (Q: Dec. 2023 ) |
= | 313.6 | / | 155.9 | |
= | 2.01 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Myriad Genetics (NAS:MYGN) Current Ratio Explanation
The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations. Because business operations differ in each industry, it is always more useful to compare companies within the same industry.
Acceptable current ratios vary from industry to industry and are generally between 1 and 3 for healthy businesses.
The higher the current ratio, the more capable the company is of paying its obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point. While this shows the company is not in good financial health, it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign.
If all other things were equal, a creditor, who is expecting to be paid in the next 12 months, would consider a high current ratio to be better than a low current ratio, because a high current ratio means that the company is more likely to meet its liabilities which fall due in the next 12 months.
Thank you for viewing the detailed overview of Myriad Genetics's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Richard Bryan Riggsbee | officer: Chief Financial Officer | 322 NORTH 2200 WEST, SALT LAKE CITY UT 84116 |
Daniel K Spiegelman | director | MYRIAD GENETICS, 320 WAKARA WAY, SALT LAKE CITY UT 84003 |
Heinrich Dreismann | director | 320 WAKARA WAY, SALT LAKE CITY UT 84108 |
Nicole Lambert | officer: Chief Operating Officer | 322 NORTH 2200 WEST, SALT LAKE CITY UT 84116 |
Margaret Ancona | officer: SVP, Chief of Staff | 322 NORTH 2200 WEST, SALT LAKE CITY UT 84116 |
Pamela Wong | officer: Chief Legal Officer | 322 NORTH 2200 WEST, SALT LAKE CITY UT 84116 |
Shereen Solaiman | officer: Chief People Officer | 320 WAKARA WAY, SALT LAKE CITY UT 84108 |
Paul Bisaro | director | |
Dale Muzzey | officer: Chief Scientific Officer | 322 NORTH 2200 WEST, SALT LAKE CITY UT 84116 |
Kevin Richard Haas | officer: Chief Technology Officer | 322 NORTH 2200 WEST, SALT LAKE CITY UT 84116 |
Natalie Munk | officer: Chief Accounting Officer | 322 NORTH 2200 WEST, SALT LAKE CITY UT 84116 |
Lee Nisley Newcomer | director | 264 BUSHAWAY ROAD, WAYZATA MN 55391-1901 |
Rashmi Kumar | director | 320 WAKARA WAY, SALT LAKE CITY UT 84108 |
Jayne B. Hart | officer: Executive VP Human Resources | 320 WAKARA WAY, SALT LAKE CITY UT 84108 |
Jerry S Lanchbury | officer: Senior V.P. - Research | 320 WAKARA WAY, SALT LAKE CITY UT 84108 |
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