Fulgent Genetics Inc (FLGT)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 507,845 | 627,873 | 611,960 | 523,616 | 37,079 |
| Total current liabilities | US$ in thousands | 73,018 | 88,107 | 105,310 | 130,115 | 3,723 |
| Current ratio | 6.96 | 7.13 | 5.81 | 4.02 | 9.96 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $507,845K ÷ $73,018K
= 6.96
The current ratio of Fulgent Genetics Inc has displayed fluctuations over the last five years. As of December 31, 2023, the current ratio stands at 6.96, slightly lower than the prior year's ratio of 7.13. This indicates that the company had $6.96 in current assets for every $1 in current liabilities at the end of 2023. The trend over the 5-year period shows an increasing ratio until 2019, followed by a decline in 2020, and then a fluctuating pattern in 2021 and 2022, and a decrease again in 2023.
A higher current ratio suggests that the company is more capable of meeting its short-term obligations using its current assets. Fulgent Genetics Inc's current ratio has generally been at healthy levels over the years, indicating a strong ability to cover its short-term liabilities. However, a decreasing trend in recent years may warrant further investigation into the company's liquidity management and underlying financial health.
Peer comparison
Dec 31, 2023