DexCom Inc (DXCM)
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 | ||
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Cash | US$ in thousands | 566,300 | 643,700 | 1,194,900 | 623,200 | 642,300 | 698,100 | 735,400 | 716,000 | 1,052,600 | 1,444,300 | 1,158,800 | 733,800 | 817,600 | 673,500 | 530,000 | 584,600 | 446,200 | 395,600 | 709,200 | 1,285,100 |
Short-term investments | US$ in thousands | 2,160,000 | 2,600,000 | 2,440,000 | 1,940,000 | 1,810,000 | 1,670,000 | 2,019,400 | 1,873,000 | 1,360,000 | 1,083,700 | 1,426,100 | 1,898,800 | 1,890,100 | 1,930,300 | 1,978,800 | 925,900 | 1,087,100 | 1,034,300 | 668,300 | 72,900 |
Receivables | US$ in thousands | 987,500 | 788,500 | 755,600 | 652,500 | 752,200 | 597,100 | 612,000 | 544,500 | 514,300 | 529,100 | 483,500 | 443,400 | 428,500 | 370,000 | 296,500 | 300,700 | 286,300 | 234,900 | 217,300 | 204,700 |
Total current liabilities | US$ in thousands | 1,556,000 | 1,678,600 | 2,069,700 | 1,865,000 | 1,839,300 | 900,500 | 807,000 | 711,400 | 720,800 | 734,900 | 600,700 | 604,100 | 614,100 | 506,400 | 400,100 | 342,800 | 360,200 | 322,400 | 288,200 | 235,400 |
Quick ratio | 2.39 | 2.40 | 2.12 | 1.72 | 1.74 | 3.29 | 4.17 | 4.40 | 4.06 | 4.16 | 5.11 | 5.09 | 5.11 | 5.87 | 7.01 | 5.28 | 5.05 | 5.16 | 5.53 | 6.64 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($566,300K
+ $2,160,000K
+ $987,500K)
÷ $1,556,000K
= 2.39
The quick ratio of Dexcom Inc has shown some fluctuations over the past eight quarters. In Q4 2023 and Q3 2023, the quick ratio stood at 2.48 and 2.49 respectively, indicating the company's ability to cover its current liabilities with highly liquid assets. This suggests a relatively strong liquidity position during these periods.
However, in Q2 2023 and Q1 2023, the quick ratio declined to 2.21 and 1.82, which may raise some concerns about the company's short-term liquidity ability. The decrease in the ratio could be attributed to various factors such as changes in current assets or liabilities composition.
Comparing these figures with the quick ratios in the previous quarters, we see a significant decline from Q2 2022 (4.30) and Q1 2022 (4.79). This indicates a substantial decrease in liquidity over time, potentially signaling a shift in the company's financial position or strategy.
Overall, while Dexcom Inc has maintained a relatively healthy quick ratio in recent quarters, it is essential for stakeholders to closely monitor any further fluctuations in this ratio to assess the company's short-term liquidity position.
Peer comparison
Dec 31, 2023