Glaukos Corp (GKOS)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	93,467	119,525	100,708	96,596	62,430
Short-term investments	US$ in thousands	201,964	233,170	322,792	317,304	120,870
Receivables	US$ in thousands	39,850	36,073	33,438	36,059	38,417
Total current liabilities	US$ in thousands	74,014	72,359	63,360	49,702	57,700
Quick ratio		4.53	5.37	7.21	9.05	3.84

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($93,467K + $201,964K + $39,850K) ÷ $74,014K
= 4.53

The quick ratio of Glaukos Corporation has shown fluctuations over the past five years. In 2019, the quick ratio was 3.82, indicating that the company had $3.82 in easily liquidated assets for every dollar of current liabilities. This ratio improved significantly over the next three years, with values of 9.13 in 2020, 7.31 in 2021, and 5.61 in 2022, reflecting a strong ability to cover short-term obligations with liquid assets.

However, in 2023, the quick ratio decreased to 4.78, suggesting a slight decline in the company's short-term liquidity position compared to the previous year. Despite this decrease, the quick ratio remains at a healthy level, indicating that Glaukos Corporation still has a sufficient amount of highly liquid assets to meet its current liabilities in the short term.

Overall, the trend in Glaukos Corporation's quick ratio demonstrates a generally positive liquidity position over the years, although a small dip was observed in the most recent year. It is essential for the company to continue monitoring and managing its liquidity effectively to ensure it can meet its short-term financial obligations.