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.