Quest Diagnostics Incorporated (DGX)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,372,000 | 1,815,000 | 1,733,000 | 1,814,000 | 1,898,000 | 2,334,000 | 2,426,000 | 2,475,000 | 2,741,000 | 2,854,000 | 2,146,000 | 2,999,000 | 3,058,000 | 3,348,000 | 2,380,000 | 1,560,000 | 2,490,000 | 1,779,000 | 1,566,000 | 1,778,000 |
| Total current liabilities | US$ in thousands | 1,815,000 | 1,618,000 | 1,875,000 | 1,355,000 | 1,551,000 | 1,602,000 | 1,577,000 | 1,700,000 | 1,753,000 | 1,759,000 | 1,551,000 | 1,707,000 | 1,776,000 | 2,389,000 | 1,843,000 | 1,129,000 | 1,990,000 | 2,011,000 | 1,904,000 | 2,282,000 |
| Current ratio | 1.31 | 1.12 | 0.92 | 1.34 | 1.22 | 1.46 | 1.54 | 1.46 | 1.56 | 1.62 | 1.38 | 1.76 | 1.72 | 1.40 | 1.29 | 1.38 | 1.25 | 0.88 | 0.82 | 0.78 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,372,000K ÷ $1,815,000K
= 1.31
The current ratio of Quest Diagnostics, Inc. has exhibited fluctuations over the past eight quarters. In the most recent quarter, Q4 2023, the current ratio stands at 1.31, indicating that the company has $1.31 in current assets for every $1 in current liabilities. This represents an improvement from the previous quarter's ratio of 1.12 in Q3 2023 and suggests an enhanced ability to cover its short-term obligations.
Looking back over the observed periods, the current ratio has ranged from a low of 0.92 in Q2 2023 to a high of 1.54 in Q2 2022. The fluctuations in the current ratio may indicate varying levels of liquidity and short-term solvency throughout the quarters under review.
The upward trend in the current ratio from Q2 2023 to Q4 2023 is a positive sign, as it suggests an improvement in the company's liquidity position and its ability to meet short-term financial obligations. However, it is important to continue monitoring the current ratio in future periods to assess the company's ongoing liquidity management and financial health.
Peer comparison
Dec 31, 2023