Enovis Corp (ENOV)
Cash ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 48,167 | 35,425 | 35,004 | 66,267 | 36,191 | 32,129 | 32,491 | 21,900 | 24,295 | 54,957 | 95,605 | 661,504 | 719,370 | 177,482 | 62,309 | 763,653 | 97,068 | 66,423 | 66,396 | 365,604 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 200,274 | 263,070 | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 528,998 | 530,222 | 518,005 | 549,132 | 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 |
| Cash ratio | 0.09 | 0.07 | 0.07 | 0.12 | 0.10 | 0.09 | 0.09 | 0.06 | 0.04 | 0.30 | 0.44 | 0.46 | 0.70 | 0.18 | 0.07 | 0.49 | 0.12 | 0.08 | 0.09 | 0.45 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($48,167K
+ $—K)
÷ $528,998K
= 0.09
The cash ratio of Enovis Corp has shown fluctuations over the period from March 31, 2020, to December 31, 2024. The cash ratio is a liquidity ratio that indicates the company's ability to cover its short-term liabilities using its cash and cash equivalents.
Initially, the cash ratio was relatively low at 0.45 as of March 31, 2020, indicating that the company had limited cash reserves compared to its current liabilities. This decreased further to 0.09 by June 30, 2020, and stayed low at 0.08 by September 30, 2020. These low ratios suggest a potential liquidity risk for the company during this period.
There was a notable improvement in the cash ratio to 0.49 as of March 31, 2021, indicating that Enovis Corp had significantly increased its cash holdings relative to its short-term obligations. However, this improvement was short-lived as the ratio dropped to 0.07 by June 30, 2021, suggesting a sudden decrease in cash reserves.
The cash ratio saw fluctuations in the subsequent quarters, reaching a peak of 0.70 on December 31, 2021, before declining to 0.04 by December 31, 2022, indicating a significant reduction in cash availability relative to short-term liabilities.
From March 31, 2023, to December 31, 2024, the cash ratio remained relatively stable between 0.06 to 0.09, indicating that Enovis Corp maintained a moderate level of cash reserves to cover its short-term obligations during this period.
Overall, Enovis Corp's cash ratio fluctuated over the analyzed period, with periods of both strengths and weaknesses in its liquidity position. It is essential for the company to carefully manage its cash position to ensure it can meet its short-term obligations efficiently.
Peer comparison
Dec 31, 2024