Fulgent Genetics Inc (FLGT)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 97,473 | 79,506 | 164,894 | 87,426 | 11,965 |
| Short-term investments | US$ in thousands | 326,681 | 773,377 | 770,652 | 211,941 | 16,304 |
| Receivables | US$ in thousands | 52,451 | 72,585 | 140,315 | 201,667 | 6,571 |
| Total current liabilities | US$ in thousands | 73,018 | 88,107 | 105,310 | 130,115 | 3,723 |
| Quick ratio | 6.53 | 10.50 | 10.22 | 3.85 | 9.36 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($97,473K
+ $326,681K
+ $52,451K)
÷ $73,018K
= 6.53
The quick ratio of Fulgent Genetics Inc has exhibited variability over the past five years. It ranged from 3.90 to 9.89, indicating fluctuations in the company's ability to quickly cover its current liabilities using its most liquid assets.
The quick ratio shows that Fulgent Genetics Inc has generally maintained a strong ability to meet its short-term obligations with its quick assets. In 2019, the quick ratio was the highest at 9.89, indicating a robust liquidity position at that time. However, in 2020 and 2021, the quick ratio decreased to 3.90 and 5.70, respectively, which may suggest a slight decrease in liquidity compared to the previous year.
In 2022 and 2023, the quick ratio improved to 7.08 and 6.96, respectively, indicating an enhanced ability to cover short-term liabilities with liquid assets. This trend suggests an improvement in the company's liquidity position in recent years.
Overall, the varying quick ratio values demonstrate fluctuations in Fulgent Genetics Inc's liquidity position over the years, with the company generally showing a strong ability to meet its short-term obligations with its quick assets.
Peer comparison
Dec 31, 2023