Corcept Therapeutics Incorporated (CORT)

Quick 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 US$ in thousands 135,551 111,800 172,377 299,942 66,329 50,243 35,346 61,862 77,617 94,688 95,430 52,381 76,190 30,560 58,523 84,477 31,269 44,948 58,141 49,650
Short-term investments US$ in thousands 232,670 243,425 190,885 165,115 365,343 346,019 334,740 283,665 145,918 266,643 274,552 320,578 364,506 398,233 346,835 222,838 244,693 186,697 143,396 137,255
Receivables US$ in thousands 42,823 35,926 33,153 33,657 32,857 30,314 29,864 28,178 29,025 27,908 29,020 23,900 27,498 23,557 23,925 28,084 19,928 22,405 19,774 19,218
Total current liabilities US$ in thousands 104,505 121,873 93,059 78,865 72,491 53,068 49,057 57,244 47,541 44,757 45,402 40,601 47,494 43,048 42,243 34,075 38,841 32,396 30,381 34,218
Quick ratio 3.93 3.21 4.26 6.32 6.41 8.04 8.15 6.53 5.31 8.70 8.79 9.77 9.86 10.51 10.16 9.84 7.62 7.84 7.28 6.02

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 fluctuations over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A higher quick ratio indicates better liquidity and a lower risk of financial distress.

In Q4 2023, the quick ratio was 4.31, indicating that the company had $4.31 of liquid assets available to cover each $1 of current liabilities. This was a decrease from the previous quarter, where the quick ratio was 3.48. Despite the decrease, the ratio remains above 1, suggesting that Corcept Therapeutics Inc has a comfortable margin of safety to meet its short-term obligations.

Comparing Q4 2023 to the same quarter in the previous year (Q4 2022), the quick ratio has decreased from 6.80 to 4.31. This could indicate a potential decrease in liquidity over the year.

Overall, while the quick ratio has shown some fluctuation, Corcept Therapeutics Inc has maintained a relatively high level of liquidity throughout the quarters analyzed. However, the decreasing trend over the past year may warrant further monitoring to ensure the company's ability to meet its short-term obligations remains strong.