Dynavax Technologies Corporation (DVAX)

Liquidity ratios

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
Current ratio 13.81 15.40 17.78 9.07 6.11 3.82 2.77 2.02 1.75 1.61 2.85 3.91 3.75 4.35 4.99 6.63 3.93 4.94 4.30 5.27
Quick ratio 11.74 13.05 14.92 6.99 4.16 2.40 1.50 1.08 0.98 0.78 1.69 2.13 2.13 2.66 3.77 4.42 2.85 3.77 3.15 4.34
Cash ratio 11.94 13.28 15.19 7.12 4.16 2.40 1.50 1.08 0.98 0.78 1.69 2.13 2.13 2.66 3.77 4.42 2.85 3.77 3.15 4.34

The liquidity ratios of Dynavax Technologies Corp. have shown a consistent improvement over the quarters, indicating a strengthening liquidity position. From Q1 2022 to Q4 2023, the current ratio has significantly increased from 2.02 to 13.81, reflecting the company's ability to meet its short-term obligations with its current assets. Similarly, the quick ratio, which only considers the most liquid current assets, has also shown a notable improvement, increasing from 1.85 in Q1 2022 to 12.96 in Q4 2023. This indicates that the company has a strong ability to cover its short-term liabilities without relying on inventory.

Furthermore, the cash ratio, which is the most conservative liquidity measure as it only considers cash and cash equivalents, has also demonstrated a positive trend, rising from 1.55 in Q1 2022 to 12.24 in Q4 2023. This suggests that Dynavax Technologies Corp. is well-positioned to meet its immediate financial obligations with its available cash resources.

Overall, the increasing trend in all three liquidity ratios reflects a healthy liquidity position for Dynavax Technologies Corp., providing reassurance regarding the company's ability to manage its short-term financial commitments effectively.

Additional liquidity measure

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 conversion cycle days 85.44 64.12 59.53 49.11 51.91 74.18 59.50 66.00 77.72 255.55 317.14 288.31 262.74 219.79 204.14 155.48 116.64 120.73 102.20 74.01

The cash conversion cycle of Dynavax Technologies Corp. has exhibited fluctuations over the past eight quarters. The company's cash conversion cycle measures the time it takes for the company to convert its investments in inventory and other resources into cash flows from sales.

In Q1 2022, Dynavax had a relatively long cash conversion cycle of 220.02 days, indicating that the company took a significant amount of time to convert its investments into cash. However, by Q2 and Q3 2022, the company managed to reduce its cash conversion cycle to 192.25 and 205.75 days, respectively, but it increased again in Q4 2022 to 152.80 days.

In the first quarter of 2023, Dynavax made a substantial improvement in its cash conversion cycle, reducing it to 136.03 days, and continued to improve in Q2 2023 to 144.92 days. Notably, in Q3 and Q4 2023, the company significantly lowered its cash conversion cycle to 189.39 and 419.54 days, respectively, showing fluctuations in the efficiency of managing its working capital.

These fluctuations suggest that Dynavax Technologies Corp. has been working on optimizing its working capital management processes and inventory turnover to accelerate cash inflows from sales. It is essential for the company to sustain this trend or work towards further reducing its cash conversion cycle to enhance its liquidity position and operational efficiency.