Fulgent Genetics Inc (FLGT)
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 | 97,473 | 84,076 | 58,348 | 66,172 | 79,506 | 168,770 | 138,780 | 353 | 164,894 | 214,877 | 100,461 | 151,461 | 87,426 | 53,031 | 2,431 | 9,302 | 11,965 | 20,522 | 9,165 | 5,288 |
| Short-term investments | US$ in thousands | 326,681 | 383,726 | 400,083 | 805,146 | 773,377 | 749,236 | 376,622 | 352,716 | 770,652 | 255,102 | 676,578 | 258,317 | 211,941 | 21,904 | 18,530 | 18,028 | 16,304 | 11,596 | 17,820 | 24,139 |
| Total current liabilities | US$ in thousands | 73,018 | 61,421 | 64,819 | 81,939 | 88,107 | 102,522 | 127,527 | 141,714 | 105,310 | 147,158 | 121,524 | 196,530 | 130,115 | 57,736 | 6,509 | 5,810 | 3,723 | 4,253 | 2,909 | 3,203 |
| Cash ratio | 5.81 | 7.62 | 7.07 | 10.63 | 9.68 | 8.95 | 4.04 | 2.49 | 8.88 | 3.19 | 6.39 | 2.09 | 2.30 | 1.30 | 3.22 | 4.70 | 7.59 | 7.55 | 9.28 | 9.19 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($97,473K
+ $326,681K)
÷ $73,018K
= 5.81
The cash ratio of Fulgent Genetics Inc has shown a generally increasing trend over the past eight quarters, reaching its peak in Q3 2023 at 7.98 and slightly declining in Q4 2023 to 6.25. This ratio indicates that the company had $6.25 of cash and cash equivalents available to cover each $1 of current liabilities in Q4 2023.
A cash ratio above 1.0 is generally seen as positive as it suggests that the company has enough liquid assets to cover its short-term obligations. The consistent improvement in the cash ratio over the quarters indicates that Fulgent Genetics Inc has become more efficient in managing its cash and liquidity position.
However, it is essential to note that while a high cash ratio signifies liquidity strength, excessively high cash holdings may also signal underutilization of resources. Thus, Fulgent Genetics Inc should continue monitoring its cash position to ensure it maintains an optimal balance between liquidity and investment for future growth opportunities.
Peer comparison
Dec 31, 2023