Quest Diagnostics Incorporated (DGX)
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 | 686,000 | 143,000 | 126,000 | 175,000 | 315,000 | 700,000 | 790,000 | 712,000 | 872,000 | 987,000 | 560,000 | 1,230,000 | 1,158,000 | 1,605,000 | 988,000 | 342,000 | 1,192,000 | 434,000 | 273,000 | 464,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 124,000 | 111,000 | — | 521,000 | 480,000 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,210,000 | 1,281,000 | 1,235,000 | 1,254,000 | 1,195,000 | 1,280,000 | 1,293,000 | 1,371,000 | 1,438,000 | 1,473,000 | 1,255,000 | 1,382,000 | 1,520,000 | 1,421,000 | 1,126,000 | 972,000 | 1,063,000 | 1,117,000 | 1,088,000 | 1,079,000 |
| 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 |
| Quick ratio | 1.04 | 0.88 | 0.73 | 1.05 | 0.97 | 1.24 | 1.32 | 1.23 | 1.32 | 1.47 | 1.24 | 1.53 | 1.80 | 1.47 | 1.15 | 1.16 | 1.13 | 0.77 | 0.71 | 0.68 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($686,000K
+ $—K
+ $1,210,000K)
÷ $1,815,000K
= 1.04
The quick ratio of Quest Diagnostics, Inc. fluctuated over the past eight quarters, with values ranging from 0.83 to 1.42. A quick ratio above 1 indicates that the company has more liquid assets readily available to cover its current liabilities.
In Q2 2023, the quick ratio was at its lowest point during the period at 0.83, which may indicate a potential liquidity concern as the company may have had insufficient liquid assets to cover its short-term obligations. However, in Q3 2022 and Q2 2022, the quick ratio was notably high at 1.42 and 1.34, indicating a strong ability to meet current liabilities with liquid assets.
Overall, the fluctuation in the quick ratio suggests that Quest Diagnostics may experience variability in its liquidity position over time, which could be influenced by factors such as changes in operating performance, cash flow management, or the timing of asset monetization. An analysis of trends and underlying factors contributing to these changes would provide further insight into the company's liquidity management practices.
Peer comparison
Dec 31, 2023