Fulgent Genetics Inc (FLGT)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 507,845 | 549,855 | 528,289 | 580,723 | 627,873 | 696,614 | 675,185 | 765,333 | 611,960 | 622,836 | 566,686 | 659,140 | 523,616 | 195,615 | 41,183 | 37,025 | 37,079 | 39,205 | 34,795 | 36,301 |
| 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 |
| Current ratio | 6.96 | 8.95 | 8.15 | 7.09 | 7.13 | 6.79 | 5.29 | 5.40 | 5.81 | 4.23 | 4.66 | 3.35 | 4.02 | 3.39 | 6.33 | 6.37 | 9.96 | 9.22 | 11.96 | 11.33 |
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 shown a generally increasing trend over the past eight quarters, ranging from a low of 5.29 in Q2 2022 to a high of 8.95 in Q3 2023. This indicates an improvement in the company's short-term liquidity position and ability to meet its current financial obligations.
A current ratio above 1.0 is generally considered healthy, as it suggests that a company has more current assets than current liabilities. Fulgent Genetics Inc has consistently maintained a current ratio well above 1.0, with the most recent ratio of 8.95 in Q3 2023 indicating a strong liquidity position.
The current ratio measures the company's ability to cover its short-term liabilities with its short-term assets. A higher current ratio implies a stronger ability to pay off current obligations, such as debts and accounts payable.
Overall, the increasing trend in Fulgent Genetics Inc's current ratio reflects positively on the company's liquidity management and suggests a stable financial position in the short term. It is important for stakeholders to monitor this ratio to ensure continued liquidity and financial stability.
Peer comparison
Dec 31, 2023