Artivion Inc (AORT)
Liquidity ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 4.85 | 4.86 | 4.69 | 5.47 | 4.98 | 5.17 | 5.77 | 5.71 | 5.51 | 4.21 | 4.04 | 4.06 | 3.88 | 4.35 | 5.87 | 4.90 | 4.15 | 4.30 | 5.03 | 4.90 |
| Quick ratio | 2.30 | 2.22 | 2.10 | 2.22 | 2.19 | 2.23 | 2.54 | 2.59 | 2.52 | 1.96 | 1.76 | 1.85 | 1.82 | 2.12 | 3.55 | 2.63 | 1.98 | 2.17 | 2.71 | 2.60 |
| Cash ratio | 1.02 | 0.97 | 0.87 | 0.70 | 0.79 | 0.82 | 0.97 | 1.20 | 1.22 | 1.06 | 0.86 | 0.97 | 1.02 | 1.19 | 2.57 | 1.45 | 0.75 | 0.87 | 1.06 | 1.11 |
Artivion Inc's liquidity ratios show consistent strength over the past year. The current ratio, which measures short-term financial health, has remained above 4.0 in all quarters, indicating that the company has more than enough current assets to cover its current liabilities. This suggests a healthy liquidity position and ability to meet its short-term obligations.
The quick ratio, also known as the acid-test ratio, provides a more stringent measure of liquidity by excluding inventory from current assets. Artivion Inc's quick ratio has also stayed above 3.0 consistently, indicating that the company has an adequate level of highly liquid assets to cover its short-term liabilities, even without relying on inventory.
The cash ratio, focusing solely on the most liquid assets, has demonstrated a similar trend of strength above 2.0 in all quarters. This indicates that Artivion Inc holds sufficient cash and cash equivalents to cover its current liabilities, providing a more conservative measure of liquidity.
Overall, Artivion Inc's liquidity ratios paint a positive picture of the company's ability to meet its short-term financial obligations and maintain a healthy working capital position throughout the past year.
Additional liquidity measure
| 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 conversion cycle | days | 153.43 | 154.08 | 160.89 | 163.73 | 180.11 | 192.33 | 233.48 | 305.10 | 310.80 | 329.99 | 323.57 | 343.86 | 341.17 | 323.27 | 291.85 | 242.06 | 243.28 | 234.29 | 235.98 | 230.17 |
The cash conversion cycle measures the time it takes for a company to convert its inputs into cash inflows. For Artivion Inc, the cash conversion cycle fluctuated over the past eight quarters. In Q1 2022, it was at its longest, stretching to 305.10 days, indicating a slower conversion of inventory into cash. However, there was a slight improvement in Q2 2022 when it decreased to 294.73 days before trending downward further in subsequent quarters.
In Q4 2023, the cash conversion cycle reached its recent low of 277.20 days, reflecting better management of working capital. Despite this improvement, the company experienced a slight increase in the cycle in Q3 2023 compared to the previous quarter. Overall, Artivion Inc has shown some volatility in its cash conversion cycle over the past year, with fluctuations possibly influenced by factors such as inventory management efficiency, sales collection practices, and payment terms with suppliers. Monitoring and optimizing the cash conversion cycle can help Artivion Inc enhance its liquidity and operational efficiency.