ICU Medical Inc (ICUI)

Liquidity ratios

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Current ratio 2.59 2.29 2.41 2.61 2.53 2.63 2.57 2.62 2.50 2.45 2.45 2.38 5.13 5.46 5.30 5.16 4.71 4.86 2.89 2.80
Quick ratio 0.55 0.57 1.18 0.55 0.53 0.43 0.41 0.49 0.43 0.50 0.55 0.70 2.83 2.90 2.60 2.42 2.10 1.96 1.28 1.23
Cash ratio 0.55 0.57 1.18 0.55 0.53 0.43 0.41 0.49 0.43 0.50 0.55 0.70 2.83 2.90 2.60 2.42 2.10 1.96 1.28 1.23

Based on the provided data, ICU Medical Inc's current ratio has shown a fluctuating trend over the years, starting at 2.80 in March 2020, reaching a peak of 5.46 in September 2021, and then gradually decreasing to 2.59 by December 2024. This indicates the company's ability to meet its short-term obligations with its current assets.

The quick ratio, which excludes inventory from current assets, has also shown variability. It started at 1.23 in March 2020, increased to a peak of 2.90 in September 2021, and then decreased to 0.55 by March 2024. This ratio provides a more conservative measure of liquidity as it excludes inventory, which may not be as easily converted to cash.

The cash ratio, which is the most conservative measure of liquidity as it only considers cash and cash equivalents, has followed a similar trend to the quick ratio. Starting at 1.23 in March 2020, it peaked at 2.90 in September 2021 and then declined to 0.55 by March 2024.

Overall, while ICU Medical Inc has generally maintained healthy liquidity levels over the years, it is important to monitor the downward trend in the ratios from their peak levels in 2021 to ensure the company continues to have sufficient liquidity to meet its short-term obligations.

Additional liquidity measure

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Cash conversion cycle days 136.93 159.25 158.63 164.33 168.88 184.10 182.78 172.29 160.56 163.93 178.98 196.99 128.44 131.02 135.22 135.61 142.00 145.03 148.26 141.13

The cash conversion cycle of ICU Medical Inc has fluctuated over the periods provided in the dataset. The cash conversion cycle represents the average number of days it takes for a company to convert its investments in inventory and other resources into cash from sales.

From March 31, 2020 to December 31, 2021, the company's cash conversion cycle decreased gradually from 141.13 days to 128.44 days. This indicates that the company was able to manage its inventory, accounts receivable, and accounts payable effectively, resulting in a shorter time to convert investments into cash.

However, from March 31, 2022 to December 31, 2024, the cash conversion cycle increased significantly, reaching a peak of 196.99 days in March 31, 2022 and then gradually declining to 136.93 days by December 31, 2024. This increase suggests that the company may have faced challenges in managing its working capital efficiently, resulting in a longer time to convert investments into cash.

Overall, the trend in ICU Medical Inc's cash conversion cycle indicates that the company experienced fluctuations in working capital management over the periods analyzed, which could impact its liquidity and operational efficiency. Further analysis and monitoring of the cash conversion cycle will be essential for assessing the company's financial health and performance in the future.