Bruker Corporation (BRKR)

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 1.80 1.89 2.08 2.03 2.31 2.36 2.55 2.56 2.63 2.16 2.06 2.06 2.43 2.67 2.61 2.60 2.78 2.23 2.19 2.12
Quick ratio 0.85 0.87 1.06 1.03 1.22 1.21 1.38 1.51 1.69 1.13 1.09 1.14 1.35 1.39 1.50 1.54 1.62 1.03 0.99 1.04
Cash ratio 0.41 0.34 0.56 0.59 0.71 0.72 0.88 1.04 1.24 0.73 0.74 0.79 0.92 0.90 1.06 1.11 1.06 0.47 0.45 0.47

Bruker Corp's liquidity ratios have shown some fluctuation over the past eight quarters. The current ratio, which measures the firm's ability to cover short-term liabilities with current assets, has been relatively stable, ranging from 1.80 to 2.56. This indicates that Bruker Corp has a healthy level of current assets to meet its short-term obligations.

The quick ratio, a more stringent liquidity measure that excludes inventory from current assets, has also remained relatively stable, ranging from 0.99 to 1.72. While the quick ratio is slightly lower than the current ratio, it still demonstrates Bruker Corp's ability to cover its short-term liabilities without relying on inventory.

The cash ratio, the most conservative liquidity measure, shows the firm's ability to cover short-term liabilities with cash and cash equivalents alone. Bruker Corp's cash ratio has been decreasing over the quarters, ranging from 0.59 to 1.25. Although the downward trend is notable, the cash ratio values are still above 1 in most quarters, indicating that the company has sufficient cash reserves to meet its short-term obligations.

Overall, Bruker Corp's liquidity ratios suggest that the company has maintained a strong ability to meet its short-term financial obligations, with a comfortable level of current assets and cash reserves. However, the decreasing trend in the cash ratio should be monitored to ensure that the company continues to have adequate liquidity in the future.

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 258.79 269.28 272.57 257.34 253.42 237.79 239.94 234.44 232.91 240.39 241.83 239.48 255.87 266.33 251.66 229.66 219.23 227.35 231.08 218.41

The cash conversion cycle of Bruker Corp has shown fluctuations over the past eight quarters. In Q3 2022, the company had the lowest cash conversion cycle of 237.79 days, indicating an efficient conversion of inventory into cash. However, this efficiency decreased in the subsequent quarters, with Q2 2023 and Q3 2023 showing higher cash conversion cycles of 282.75 days and 280.74 days, respectively.

Overall, the trend suggests that Bruker Corp experienced challenges in managing its cash conversion cycle in the last two quarters, as compared to the relatively better performance in Q1 and Q4 of 2022. It is essential for the company to focus on improving its inventory turnover, accounts receivable collection, and accounts payable payment processes to shorten its cash conversion cycle and enhance its working capital management efficiency.