Haemonetics Corporation (HAE)

Quick ratio

		Mar 31, 2024	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
Cash	US$ in thousands	178,800	193,978	351,005	285,719	284,466	224,002	241,200	214,948	259,496	236,877	192,420	173,462	192,305	189,002	279,169	275,725	137,311	126,417	112,030	190,234
Short-term investments	US$ in thousands	—	1,146	2,576	2,442	1,110	1,687	1,114	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	206,562	211,611	174,249	177,117	179,142	181,100	—	—	159,376	—	—	—	127,555	146,939	141,533	141,094	165,207	170,753	176,535	163,339
Total current liabilities	US$ in thousands	300,383	261,755	264,215	236,939	251,816	226,889	262,175	180,487	442,266	355,411	288,470	228,339	253,495	194,384	338,568	407,827	274,822	256,692	240,066	293,665
Quick ratio		1.28	1.55	2.00	1.96	1.85	1.79	0.92	1.19	0.95	0.67	0.67	0.76	1.26	1.73	1.24	1.02	1.10	1.16	1.20	1.20

March 31, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($178,800K + $—K + $206,562K) ÷ $300,383K
= 1.28

The quick ratio of Haemonetics Corporation has shown some fluctuations over the past few quarters. A quick ratio above 1 indicates that the company has sufficient liquid assets to cover its short-term liabilities.

In the most recent quarter, as of March 31, 2024, the quick ratio was reported at 1.28, indicating that the company had $1.28 in liquid assets for every $1 of current liabilities. This suggests a relatively healthy liquidity position.

Looking back at the trend over the previous quarters, the quick ratio has ranged from a low of 0.67 to a high of 2.00. The significant increase to 2.00 in the quarter ending September 30, 2023, indicates a substantial improvement in the company's liquidity position.

However, the quick ratio dropped below 1 in some quarters, such as in the quarter ending June 30, 2022, signaling potential liquidity challenges during that period. It is essential to closely monitor trends in the quick ratio to assess the company's ability to meet its short-term obligations efficiently.

Overall, the quick ratio analysis suggests that Haemonetics Corporation has maintained a generally healthy liquidity position, with occasional fluctuations that warrant further investigation to understand the underlying reasons for these changes.