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. Patterson's current ratio for the quarter that ended in Apr. 2022 was 1.65.
Patterson has a current ratio of 1.65. It generally indicates good short-term financial strength.
The historical rank and industry rank for Patterson's Current Ratio or its related term are showing as below:
PDCO'
s Current Ratio Range Over the Past 10 Years
Min: 1.44 Med: 2.47 Max: 3.35
Current: 1.65
During the past 13 years, Patterson's highest Current Ratio was 3.35. The lowest was 1.44. And the median was 2.47.
PDCO's Current Ratio is ranked better than 58.33% of 84
companies
in the Medical Distribution industry
Industry Median: 1.48
vs PDCO: 1.65
Patterson Current Ratio Historical Data
The historical data trend for Patterson'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.
* Premium members only.
Patterson Annual Data
Trend
Apr13
Apr14
Apr15
Apr16
Apr17
Apr18
Apr19
Apr20
Apr21
Apr22
Current Ratio
1.95
1.83
1.44
1.48
1.65
Patterson Quarterly Data
Jul17
Oct17
Jan18
Apr18
Jul18
Oct18
Jan19
Apr19
Jul19
Oct19
Jan20
Apr20
Jul20
Oct20
Jan21
Apr21
Jul21
Oct21
Jan22
Apr22
Current Ratio
1.48
1.51
1.51
1.58
1.65
Competitive Comparison
For the Medical Distribution subindustry, Patterson'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.
Patterson Current Ratio Distribution
For the Medical Distribution industry and Healthcare sector, Patterson's Current Ratio distribution charts can be found below:
* The bar in red indicates where Patterson's Current Ratio falls into.
Patterson Current Ratio Calculation
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.
Patterson's Current Ratio for the fiscal year that ended in Apr. 2022
* 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.
Patterson (NAS:PDCO) 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.
Patterson Current Ratio Related Terms
Thank you for viewing the detailed overview of Patterson's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Patterson is a leading dental distributor and wholesaler of consumable products and equipment operating through two business segments, Patterson Dental and Patterson Animal Health. The firm offers dental and veterinary practice management products, including office software products, technical, financial, and educational services, primarily to two highly fragmented market segments throughout the U.S. and Canada. The company began as a dental distributor in 1877 and expanded to become a major supplier of animal health products to vets and production companies through an acquisition of Animal Health International in 2015. Patterson also has a presence in the U.K. animal health market.
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