Adapthealth Corp (AHCO)
Cash ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 77,132 | 56,143 | 45,126 | 101,401 | 46,272 | 110,738 | 118,809 | 119,428 | 149,627 | 336,654 | 178,189 | 132,137 | 99,962 | 272,318 | 110,587 | 48,164 | 76,878 | 8,823 | 2,159 | 745 |
| Short-term investments | US$ in thousands | — | — | 6,423 | 5,193 | 5,748 | 4,471 | — | — | — | — | — | — | — | — | — | — | 0 | 255,880 | 254,864 | 254,324 |
| Total current liabilities | US$ in thousands | 536,999 | 448,185 | 457,978 | 524,477 | 456,214 | 466,927 | 435,456 | 443,555 | 499,812 | 502,065 | 605,874 | 513,140 | 422,053 | 314,805 | 257,107 | 191,152 | 154,052 | 3,198 | 2,283 | 980 |
| Cash ratio | 0.14 | 0.13 | 0.11 | 0.20 | 0.11 | 0.25 | 0.27 | 0.27 | 0.30 | 0.67 | 0.29 | 0.26 | 0.24 | 0.87 | 0.43 | 0.25 | 0.50 | 82.77 | 112.58 | 260.27 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($77,132K
+ $—K)
÷ $536,999K
= 0.14
The cash ratio for AdaptHealth Corp has shown variability over the past eight quarters. The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to cover short-term obligations.
In Q4 2023, the cash ratio was 0.27, indicating that for every dollar of current liabilities, the company had $0.27 in cash and cash equivalents. This was an improvement compared to the previous quarter, where the cash ratio was 0.22.
The cash ratio fluctuated between 0.19 and 0.34 over the last eight quarters, with the highest ratio observed in Q2 2022. This indicates that there were periods when AdaptHealth Corp had a stronger liquidity position relative to its short-term obligations.
Overall, monitoring the cash ratio provides insights into the company's liquidity management and ability to meet its immediate financial obligations. Investors and stakeholders may consider the trend of the cash ratio over time to assess the company's financial health and risk profile.
Peer comparison
Dec 31, 2023