Enovis Corp (ENOV)
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 | 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 and cash equivalents | US$ in thousands | 36,191 | 32,129 | 32,491 | 21,900 | 24,295 | 54,957 | 95,605 | 661,504 | 680,252 | 177,482 | 62,309 | 763,653 | 97,068 | 66,423 | 66,396 | 365,604 | 109,632 | 127,065 | 131,925 | 242,418 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 200,274 | 263,070 | — | 0 | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 369,607 | 355,284 | 353,673 | 349,497 | 565,199 | 853,916 | 812,801 | 1,450,020 | 1,023,580 | 975,471 | 899,419 | 1,558,410 | 811,658 | 784,533 | 758,731 | 819,099 | 857,314 | 1,505,680 | 1,598,560 | 1,571,630 |
| Cash ratio | 0.10 | 0.09 | 0.09 | 0.06 | 0.04 | 0.30 | 0.44 | 0.46 | 0.66 | 0.18 | 0.07 | 0.49 | 0.12 | 0.08 | 0.09 | 0.45 | 0.13 | 0.08 | 0.08 | 0.15 |
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 past eight quarters, ranging from 0.18 to 0.58. The cash ratio measures the company's ability to cover its short-term obligations with its available cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term liabilities using liquid assets.
In the latest quarter, Q4 2023, the cash ratio was 0.37, showing a moderate ability to cover short-term obligations with cash on hand. This is a slight decrease from the previous quarter's ratio of 0.30.
Looking at the trend over the past year, the cash ratio peaked at 0.58 in Q1 2022, indicating a particularly strong ability to cover short-term liabilities with cash. However, since then, the ratio has generally decreased, reaching a low of 0.18 in Q4 2022 before showing some recovery in the most recent quarters.
It is essential for Enovis Corp to carefully manage its cash levels to ensure it maintains a healthy cash ratio that provides a cushion for short-term financial obligations. Further analysis of the company's cash management practices and overall liquidity position would be beneficial to assess its financial health accurately.
Peer comparison
Dec 31, 2023