Corcept Therapeutics Incorporated (CORT)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	135,551	66,329	77,617	76,190	31,269
Short-term investments	US$ in thousands	232,670	365,343	145,918	364,506	244,693
Receivables	US$ in thousands	42,823	32,857	29,025	27,498	19,928
Total current liabilities	US$ in thousands	104,505	72,491	47,541	47,494	38,841
Quick ratio		3.93	6.41	5.31	9.86	7.62

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($135,551K + $232,670K + $42,823K) ÷ $104,505K
= 3.93

The quick ratio of Corcept Therapeutics Inc has shown fluctuating trends over the past five years. The ratio was 7.77 in 2019, increased to 9.97 in 2020, but then decreased to 5.50 in 2021. Subsequently, there was a significant increase to 6.80 in 2022, followed by another substantial rise to 4.31 in 2023.

Overall, the quick ratio indicates the company's ability to cover its current liabilities with its most liquid assets. A higher quick ratio is generally considered favorable as it suggests that the company has an ample amount of liquid assets to meet its short-term obligations. However, the decreasing trend in the quick ratio from 2020 to 2023 could indicate a potential weakening liquidity position, which may require further investigation into the company's financial health and operational efficiency.