Enovis Corp (ENOV)
Quick ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 48,167 | 36,191 | 24,295 | 719,370 | 97,068 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 528,998 | 369,607 | 565,199 | 1,023,580 | 811,658 |
| Quick ratio | 0.09 | 0.10 | 0.04 | 0.70 | 0.12 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($48,167K
+ $—K
+ $—K)
÷ $528,998K
= 0.09
The quick ratio of Enovis Corp has displayed fluctuations over the years based on the provided data. In December 31, 2020, the quick ratio was exceptionally low at 0.12, indicating a relatively weak ability to cover its short-term obligations with its liquid assets.
However, there was a notable improvement in the quick ratio by December 31, 2021, where it increased to 0.70. This suggests that Enovis Corp had a better ability to meet its short-term liabilities with its quick assets, such as cash and accounts receivable.
Subsequently, by December 31, 2022, the quick ratio dropped significantly to 0.04, signaling a potential liquidity concern as the company may struggle to meet its immediate financial obligations using its liquid assets.
Although there was a slight improvement by December 31, 2023, with the quick ratio rising to 0.10, it remained relatively low, indicating that Enovis Corp still faced challenges in quickly covering its short-term liabilities.
By the end of December 31, 2024, the quick ratio further decreased to 0.09, suggesting that Enovis Corp may continue to have difficulties in meeting its short-term obligations efficiently with its available liquid assets.
Overall, the fluctuating trend in the quick ratio of Enovis Corp reflects potential liquidity challenges and emphasizes the importance of closely monitoring the company's ability to manage its short-term financial commitments.
Peer comparison
Dec 31, 2024