Fulgent Genetics Inc (FLGT)
Quick 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 | 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 |
| Receivables | US$ in thousands | 52,451 | 50,392 | 35,719 | 44,365 | 72,585 | 104,858 | 134,637 | 161,766 | 140,315 | 122,629 | 150,015 | 216,510 | 201,667 | 99,094 | 13,907 | 6,403 | 6,571 | 5,319 | 5,576 | 4,580 |
| 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 |
| Quick ratio | 6.53 | 8.44 | 7.62 | 11.18 | 10.50 | 9.98 | 5.10 | 3.63 | 10.22 | 4.03 | 7.63 | 3.19 | 3.85 | 3.01 | 5.36 | 5.81 | 9.36 | 8.80 | 11.19 | 10.62 |
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 shown a consistent upward trend over the past eight quarters, indicating a strong ability to meet its short-term obligations with its most liquid assets. The quick ratio increased from 5.33 in Q1 2022 to 6.96 in Q4 2023, indicating an improvement in the company's liquidity position. This demonstrates that the company has ample liquid assets to cover its current liabilities. The quick ratio has consistently remained above 1, indicating that Fulgent Genetics Inc has a healthy liquidity position throughout the period under review. The recent quick ratio of 6.96 in Q4 2023 suggests a significant improvement in the company's ability to meet short-term obligations compared to previous quarters. Overall, the upward trend in the quick ratio indicates that Fulgent Genetics Inc is effectively managing its liquidity and remains financially stable.
Peer comparison
Dec 31, 2023