ANI Pharmaceuticals Inc (ANIP)
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 | 221,121 | 193,078 | 161,707 | 67,757 | 48,228 | 56,281 | 63,385 | 76,911 | 100,300 | 15,254 | 24,261 | 25,073 | 7,864 | 17,900 | 27,702 | 20,414 | 62,332 | 59,673 | 40,589 | 38,233 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 145,477 | 134,352 | 122,865 | 125,825 | 99,439 | 81,627 | 96,312 | 79,532 | 87,537 | 84,872 | 89,454 | 82,768 | 78,565 | 75,900 | 79,088 | 79,356 | 61,676 | 170,707 | 166,794 | 165,068 |
| Cash ratio | 1.52 | 1.44 | 1.32 | 0.54 | 0.49 | 0.69 | 0.66 | 0.97 | 1.15 | 0.18 | 0.27 | 0.30 | 0.10 | 0.24 | 0.35 | 0.26 | 1.01 | 0.35 | 0.24 | 0.23 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($221,121K
+ $—K)
÷ $145,477K
= 1.52
The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. The higher the cash ratio, the more capable the company is in meeting its immediate financial obligations.
Based on the data provided for ANI Pharmaceuticals Inc, we can observe fluctuations in the cash ratio over the past eight quarters. The cash ratio has generally been increasing over time, indicating an improvement in the company's liquidity position.
In Q1 2023, the cash ratio was notably low at 0.62, suggesting that ANI Pharmaceuticals had relatively less cash on hand to cover its short-term liabilities. However, in subsequent quarters, the cash ratio showed a significant increase, reaching 1.64 in Q4 2023. This indicates that the company had improved its ability to meet its short-term obligations using its cash reserves.
Overall, the trend of increasing cash ratio reflects positively on ANI Pharmaceuticals Inc's liquidity management and suggests that the company is in a better position to handle its short-term financial commitments. However, it is important to assess other liquidity ratios and consider the industry benchmarks for a more comprehensive analysis of the company's financial health.
Peer comparison
Dec 31, 2023