Embecta Corp (EMBC)
Cash 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
Cash and cash equivalents | US$ in thousands | 298,700 | 326,500 | 317,400 | 346,400 | 385,200 | 330,900 | 292,300 | 264,300 | 0 |
Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — |
Total current liabilities | US$ in thousands | 326,600 | 353,500 | 385,800 | 357,700 | 370,300 | 301,000 | 228,500 | 168,900 | 159,100 |
Cash ratio | 0.91 | 0.92 | 0.82 | 0.97 | 1.04 | 1.10 | 1.28 | 1.56 | 0.00 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($298,700K
+ $—K)
÷ $326,600K
= 0.91
The cash ratio of Embecta Corp has shown some fluctuations over the past few quarters. The ratio measures the company's ability to cover its short-term liabilities with its cash and cash equivalents.
In the most recent quarter, the cash ratio was 0.91, indicating that Embecta Corp had $0.91 in cash and cash equivalents for every dollar of current liabilities. This ratio has been relatively stable around the range of 0.82 to 0.97 over the last year, with a peak of 1.56 in March 2022.
Overall, the cash ratio of Embecta Corp suggests that the company has a moderate ability to cover its short-term obligations with its available cash reserves. It is important for the company to maintain a healthy cash position to ensure its ability to meet its financial commitments in the near term.
Peer comparison
Dec 31, 2023