Liquidity for major non-financial corporations has never been better as measured by the high ratio of liquid assets to current liabilities.

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This is why a high current ratio (current assets divided by current liabilities) raises my level of skepticism when I look at a company.

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Its current ratio, a measure of liquidity, is low, with current liabilities often bigger than current assets.

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And the quick ratio, which measures cash and accounts receivable relative to total current liabilities, has been trending lower over the years, dipping below 1 in the last 12 months.

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