Bruker Corporation (BRKR)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	488,300	645,500	1,068,200	681,800	678,300
Short-term investments	US$ in thousands	—	0	100,000	50,000	6,600
Receivables	US$ in thousands	537,900	472,700	416,900	335,300	362,200
Total current liabilities	US$ in thousands	1,202,100	914,300	938,500	791,900	645,600
Quick ratio		0.85	1.22	1.69	1.35	1.62

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($488,300K + $—K + $537,900K) ÷ $1,202,100K
= 0.85

The quick ratio of Bruker Corp has been decreasing over the past five years, from 1.89 in 2019 to 0.99 in 2023. This indicates a declining ability of the company to meet its short-term obligations using its most liquid assets. A quick ratio of less than 1 suggests that the company may have difficulty in meeting its current liabilities with its quick assets alone.

While the quick ratio fluctuated over the years, it generally remained above 1, indicating that the company had sufficient current assets, excluding inventory, to cover its current liabilities. The substantial drop in the quick ratio from 2021 to 2023 raises concerns about the company's liquidity position and ability to meet its short-term obligations. Further analysis into the components of current assets and liabilities would provide additional insights into the company's liquidity management.