ICU Medical Inc (ICUI)

Current ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Total current assets	US$ in thousands	1,441,980	1,221,270	1,235,200	1,029,810	920,777
Total current liabilities	US$ in thousands	556,182	481,838	494,559	200,777	195,488
Current ratio		2.59	2.53	2.50	5.13	4.71

December 31, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $1,441,980K ÷ $556,182K
= 2.59

The current ratio of ICU Medical Inc has shown a consistent trend of improvement over the past few years. As of December 31, 2020, the current ratio stood at 4.71, indicating a strong ability to cover its short-term liabilities with current assets. This ratio further increased to 5.13 by December 31, 2021, reflecting a continued enhancement in liquidity and financial stability.

However, there was a significant decrease in the current ratio to 2.50 by December 31, 2022. This decline may suggest a potential reduction in the company's ability to meet its short-term obligations with its current assets.

Subsequently, there was a slight improvement in the current ratio to 2.53 by December 31, 2023, followed by another increase to 2.59 by December 31, 2024. Although the ratio remains above 2, indicating a healthy liquidity position, the downward trend in 2022 should be monitored closely for any further implications on the company's short-term financial health.