Integra LifeSciences Holdings (IART)

The current ratio of Integra LifeSciences Holdings has shown a generally increasing trend over the years, indicating a strengthening liquidity position. As of December 31, 2024, the current ratio dropped significantly to 1.17, which might raise concerns about the company's ability to cover its short-term liabilities with its current assets.

Similarly, the quick ratio has also displayed a fluctuating pattern, with a significant decrease to 0.59 by December 31, 2024. This suggests a declining ability of the company to meet its short-term obligations without relying on inventory.

The cash ratio, which measures the firm's ability to cover its current liabilities with its cash and cash equivalents, has also shown a decreasing trend. By December 31, 2024, the cash ratio had decreased to 0.30, indicating a potential challenge in meeting immediate payment obligations solely based on available cash resources.

Overall, while the liquidity ratios of Integra LifeSciences Holdings have shown some fluctuations, the significant decrease in the ratios towards the end of the period raises concerns about the company's short-term liquidity position and its ability to meet immediate financial obligations.

---

Additional liquidity measure

The cash conversion cycle of Integra LifeSciences Holdings has shown some fluctuation over the past five years. In December 2020, the company's cash conversion cycle was 136.56 days, indicating that it took approximately 136 days for the company to convert its investments in inventory and other resources into cash flows from sales.

Subsequently, the cash conversion cycle decreased to 123.01 days by December 2021, reflecting an improvement in the company's efficiency in managing its working capital. However, in the following years, there was a slight increase in the cash conversion cycle to 124.62 days by December 2022 and to 138.55 days by December 2023.

By December 2024, the cash conversion cycle further extended to 139.90 days, suggesting that Integra LifeSciences Holdings took longer to convert its investments into cash compared to the previous year. Overall, despite some fluctuations, the company's cash conversion cycle has shown a general trend of lengthening over the five-year period, which may indicate potential inefficiencies in working capital management.

Further analysis would be necessary to understand the specific factors contributing to these changes and to identify opportunities for improving the company's cash conversion cycle in the future.