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.
Peer comparison
Dec 31, 2023