Integra LifeSciences Holdings (IART)
Liquidity ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 3.45 | 2.89 | 2.78 | 3.65 | 3.62 | 3.93 | 3.85 | 3.38 | 3.39 | 3.32 | 3.24 | 2.52 | 3.09 | 4.52 | 4.55 | 4.09 | 2.59 | 2.92 | 2.76 | 2.86 |
| Quick ratio | 1.85 | 1.55 | 1.56 | 2.04 | 2.24 | 2.54 | 2.33 | 2.03 | 2.19 | 2.08 | 1.97 | 1.53 | 1.73 | 2.41 | 2.54 | 2.45 | 1.43 | 1.62 | 1.50 | 1.51 |
| Cash ratio | 1.01 | 0.83 | 0.87 | 1.14 | 1.42 | 1.72 | 1.53 | 1.29 | 1.51 | 1.41 | 1.25 | 0.99 | 1.17 | 1.55 | 1.70 | 1.45 | 0.60 | 0.69 | 0.56 | 0.55 |
Integra Lifesciences Holdings Corp has exhibited consistency in its current ratio over the past eight quarters, ranging from 2.78 to 3.65, indicating a strong ability to cover its short-term obligations with current assets. The current ratio peaked in Q1 2023 at 3.65, reflecting a significant increase in liquidity compared to the lower ratios observed in the previous quarters.
Similarly, the quick ratio, which excludes inventory from current assets, shows a similar trend of stability, with values ranging from 1.85 to 2.61. The company maintained a relatively healthy quick ratio throughout the periods, implying a robust capacity to meet short-term liabilities using its most liquid assets.
On the other hand, the cash ratio, which measures the most liquid assets available to cover current liabilities, demonstrated a gradual decline from 2.09 in Q3 2022 to 1.33 in Q4 2023. While the cash ratio remained above 1 in all periods, indicating a sufficient level of cash to meet immediate obligations, the downward trend suggests potential changes in the company's cash position or management of liquid assets.
Overall, Integra Lifesciences Holdings Corp has showcased strong liquidity positions based on the current, quick, and cash ratios analyzed. The company has generally maintained a comfortable level of liquidity to meet short-term financial commitments across the quarters, with minor fluctuations observed in the cash ratio.
Additional liquidity measure
| 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 conversion cycle | days | 141.86 | 136.39 | 133.58 | 128.86 | 127.45 | 124.40 | 127.06 | 123.22 | 126.03 | 153.90 | 154.22 | 171.53 | 173.71 | 141.08 | 141.02 | 129.85 | 125.93 | 129.55 | 128.57 | 124.48 |
The cash conversion cycle of Integra Lifesciences Holdings Corp has shown a consistent trend of fluctuation over the past eight quarters. The company's cash conversion cycle, a measure of how long it takes for a company to convert its investments in inventory into cash flows from sales, has ranged from a low of 199.03 days in Q3 2022 to a high of 226.60 days in Q4 2023.
Overall, the company's cash conversion cycle has shown a slight increase over the quarters, indicating a potential inefficiency in managing its working capital. The increasing trend suggests that the company is taking longer to convert its investments in inventory into cash, which could potentially impact its liquidity and profitability.
It is important for Integra Lifesciences Holdings Corp to closely monitor and manage its cash conversion cycle to ensure optimal working capital management. By effectively managing its inventory, accounts receivable, and accounts payable, the company can potentially shorten its cash conversion cycle, improve its liquidity position, and enhance its overall financial performance.