Henry Schein Inc (HSIC)
Cash 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 and cash equivalents | US$ in thousands | 171,000 | 166,000 | 137,000 | 126,000 | 117,000 | 123,000 | 108,000 | 126,000 | 118,000 | 119,000 | 167,000 | 144,000 | 421,000 | 533,495 | 296,110 | 617,368 | 106,097 | 75,256 | 84,924 | 88,115 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 397,764 | 394,665 | — | 185 | 356,439 | 362,565 | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 2,683,000 | 2,093,000 | 2,276,000 | 2,172,000 | 2,224,000 | 2,146,000 | 2,076,000 | 2,144,000 | 2,307,000 | 2,301,400 | 2,093,640 | 2,122,770 | 2,283,100 | 2,603,810 | 2,307,240 | 2,205,830 | 2,038,370 | 1,908,690 | 1,825,280 | 1,878,780 |
| Cash ratio | 0.06 | 0.08 | 0.06 | 0.06 | 0.05 | 0.06 | 0.05 | 0.06 | 0.05 | 0.22 | 0.27 | 0.07 | 0.18 | 0.34 | 0.29 | 0.28 | 0.05 | 0.04 | 0.05 | 0.05 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($171,000K
+ $—K)
÷ $2,683,000K
= 0.06
The cash ratio of Henry Schein Inc fluctuated over the past five years, ranging from 0.04 to 0.34. The cash ratio measures a company's ability to cover its short-term liabilities with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to pay off short-term obligations.
Looking at the trend, the cash ratio was relatively stable in 2020 and 2021, with ratios around 0.05 to 0.07. However, in the third quarter of 2021, there was a significant increase in the cash ratio to 0.22, followed by an even higher ratio of 0.27 in the following quarter, suggesting a substantial improvement in the company's liquidity position.
The cash ratio decreased in the first half of 2022 but remained relatively stable around 0.05 to 0.06. It surged to 0.34 in the third quarter of 2022, which was the highest ratio observed in the dataset. This spike may indicate a significant increase in cash reserves or a reduction in short-term liabilities during that period.
Subsequently, there was a gradual decline in the cash ratio in late 2022 and early 2023, dropping back to the range of 0.05 to 0.08. Overall, while the cash ratio has shown fluctuations, Henry Schein Inc has generally maintained a reasonable level of liquidity to meet its short-term financial obligations over the analyzed period.
Peer comparison
Dec 31, 2023