Cognex Corporation (CGNX)
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 | 202,655 | 395,501 | 177,485 | 164,171 | 181,374 | 266,004 | 177,046 | 165,769 | 186,161 | 203,479 | 217,037 | 242,688 | 269,073 | 298,356 | 286,021 | 239,197 | 171,431 | 121,701 | 89,104 | 105,296 |
Short-term investments | US$ in thousands | 129,392 | 117,147 | 191,474 | 216,703 | 218,759 | 208,430 | 182,634 | 148,966 | 137,455 | 189,113 | 190,747 | 143,233 | 103,240 | 95,365 | 143,084 | 159,244 | 240,470 | 292,072 | 364,487 | 441,337 |
Total current liabilities | US$ in thousands | 151,884 | 169,704 | 180,462 | 213,977 | 187,708 | 161,278 | 192,241 | 195,126 | 188,589 | 165,137 | 204,934 | 159,680 | 132,297 | 139,398 | 144,581 | 150,644 | 120,477 | 81,215 | 85,683 | 93,045 |
Cash ratio | 2.19 | 3.02 | 2.04 | 1.78 | 2.13 | 2.94 | 1.87 | 1.61 | 1.72 | 2.38 | 1.99 | 2.42 | 2.81 | 2.82 | 2.97 | 2.64 | 3.42 | 5.09 | 5.29 | 5.87 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($202,655K
+ $129,392K)
÷ $151,884K
= 2.19
The cash ratio of Cognex Corp. has shown some fluctuations over the past eight quarters. The cash ratio measures the company's ability to cover its short-term liabilities using its cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations.
In this case, the cash ratio ranged from a low of 1.94 in Q1 2022 to a high of 3.60 in Q3 2022. The average cash ratio over the eight quarters is approximately 2.62. This suggests that, on average, Cognex Corp. had enough cash and cash equivalents to cover over two times its short-term liabilities during this period.
It is worth noting that the highest and lowest values of the cash ratio occurred in Q3 2022 and Q1 2022, respectively. The significant increase in the cash ratio in Q3 2022 compared to the previous quarters indicates a strong cash position during that period. On the other hand, the decrease in the cash ratio in Q1 2022 may suggest a temporary strain on the company's liquidity.
Overall, the cash ratio trend for Cognex Corp. demonstrates a relatively healthy liquidity position, with some variability in the short term. Further analysis of the company's cash management practices and cash flow generation would provide additional insights into its financial health and ability to meet its obligations.
Peer comparison
Dec 31, 2023