3D Systems Corporation (DDD)

Quick ratio

		Mar 31, 2024	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
Cash	US$ in thousands	212,040	331,525	445,554	490,444	525,898	388,134	341,297	298,834	389,270	789,657	502,752	131,844	132,440	75,010	75,264	63,922	112,776	133,665	127,616	150,397
Short-term investments	US$ in thousands	—	0	0	1,135	4,027	180,603	268,097	339,386	356,340	0	—	—	—	5,016	—	—	—	8,327	—	—
Receivables	US$ in thousands	108,867	106,919	104,516	97,769	94,677	93,886	100,310	107,013	107,241	106,540	89,926	88,618	98,117	114,254	98,755	97,708	108,769	109,408	110,333	114,093
Total current liabilities	US$ in thousands	145,919	147,188	137,928	153,910	154,012	151,808	152,373	162,368	150,238	178,012	168,188	158,890	154,392	175,730	160,428	170,648	166,306	162,964	171,083	181,000
Quick ratio		2.20	2.98	3.99	3.83	4.06	4.36	4.66	4.59	5.68	5.03	3.52	1.39	1.49	1.11	1.08	0.95	1.33	1.54	1.39	1.46

March 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($212,040K + $—K + $108,867K) ÷ $145,919K
= 2.20

The quick ratio of 3D Systems Corporation has fluctuated over the past few quarters. It decreased from 2.20 in March 2024 to 2.98 in December 2023, indicating a decrease in liquidity. Subsequently, the ratio increased to 3.99 in September 2023, signaling a positive trend in the company's ability to meet its short-term obligations with its most liquid assets.

The quick ratio continued to improve in the following quarters, reaching 4.06 in June 2023 and 4.36 in March 2023. This suggests a strengthening liquidity position and the company's capacity to cover its current liabilities with its quick assets more comfortably.

However, the quick ratio experienced a slight decline to 4.59 in June 2022 before rebounding to 5.68 in March 2022, indicating a significant improvement in liquidity. The ratio then decreased to 5.03 in December 2021 and further declined to 3.52 in September 2021, possibly signaling some challenges in meeting short-term obligations.

In more recent quarters, the quick ratio deteriorated significantly, dropping to 1.39 in June 2021 and 1.49 in March 2021. This decline suggests a potential strain on the company's ability to fulfill its short-term obligations using its quick assets.

The quick ratio improved slightly to 1.11 in December 2020 and 1.08 in September 2020 but remained below the ideal threshold of 1.5. In June 2020, the ratio increased to 0.95, indicating a decrease in liquidity and a potential challenge in meeting short-term liabilities.

Overall, the trend in 3D Systems Corporation's quick ratio shows fluctuations in liquidity levels over the past few quarters, with periods of improvement followed by declines. It is essential for the company to closely monitor its liquidity position and continue managing its quick assets to ensure it can readily meet its short-term financial obligations.