ICU Medical Inc (ICUI)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,221,270 | 1,235,200 | 1,029,810 | 920,777 | 882,197 |
| Total current liabilities | US$ in thousands | 481,838 | 494,559 | 200,777 | 195,488 | 248,468 |
| Current ratio | 2.53 | 2.50 | 5.13 | 4.71 | 3.55 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,221,270K ÷ $481,838K
= 2.53
The current ratio of ICU Medical, Inc. has shown a fluctuating trend over the past five years. The current ratio was 2.53 as of December 31, 2023, which indicates that the company has $2.53 in current assets for every $1 in current liabilities. Comparing this to previous years, we see a slight increase from 2.50 in 2022.
In 2021, ICU Medical had a significantly higher current ratio of 5.13, indicating a strong liquidity position where current assets were more than five times the current liabilities. This high ratio suggests that the company had ample resources to cover its short-term obligations.
The current ratio then decreased to 4.71 in 2020 and further dropped to 3.55 in 2019. Although the ratio declined in these years, the company still maintained a healthy liquidity position where current assets exceeded current liabilities by a significant margin.
Overall, while there have been fluctuations in ICU Medical's current ratio over the years, the company has generally maintained a strong liquidity position, which is crucial for meeting its short-term obligations and operational needs.
Peer comparison
Dec 31, 2023