Harmony Biosciences Holdings (HRMY)

Current ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	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
Total current assets	US$ in thousands	579,252	522,405	458,344	479,503	451,070	462,998	455,641	418,087	400,285	382,082	322,702	280,257	284,439	240,691	204,714
Total current liabilities	US$ in thousands	175,082	161,279	146,582	154,253	163,781	112,408	93,045	85,363	78,884	107,357	65,764	56,528	53,775	47,623	36,595
Current ratio		3.31	3.24	3.13	3.11	2.75	4.12	4.90	4.90	5.07	3.56	4.91	4.96	5.29	5.05	5.59

December 31, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $579,252K ÷ $175,082K
= 3.31

The current ratio of Harmony Biosciences Holdings has shown some fluctuations over the reported periods. As of December 31, 2024, the current ratio stands at 3.31, indicating that the company has $3.31 in current assets for every $1 in current liabilities.

From the trend analysis, we observe that the current ratio peaked in September 2021 at 5.05 before fluctuating but generally remaining above 4 until September 2023. However, from December 2023 onwards, the current ratio decreased significantly, reaching a low of 2.75 in December 2023, before showing a slight recovery in the subsequent periods.

A current ratio above 1 suggests that Harmony Biosciences Holdings has more current assets than current liabilities, which is generally a positive sign of the company's ability to cover short-term obligations. However, the decreasing trend in the current ratio from September 2023 onwards may indicate a potential liquidity challenge or changes in the company's operating cycle that should be further investigated.