Enovis Corp (ENOV)

Cash ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	36,191	24,295	680,252	97,068	109,632
Short-term investments	US$ in thousands	—	—	0	—	—
Total current liabilities	US$ in thousands	369,607	565,199	1,023,580	811,658	857,314
Cash ratio		0.10	0.04	0.66	0.12	0.13

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($36,191K + $—K) ÷ $369,607K
= 0.10

The cash ratio of Enovis Corp has fluctuated over the years, indicating varying levels of liquidity. In 2021, the cash ratio was highest at 0.87, suggesting a strong ability to cover short-term liabilities with cash on hand. However, in 2022 and 2023, the cash ratio decreased to 0.18 and 0.37 respectively, potentially indicating a less favorable liquidity position. Overall, Enovis Corp may need to closely monitor its cash position and liquidity management to ensure it can meet its short-term obligations effectively.

Peer comparison

Dec 31, 2023

Company name

Symbol

Cash ratio

Enovis Corp

ENOV

0.10

Flowserve Corporation