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.