ICU Medical Inc (ICUI)

Quick ratio

		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	US$ in thousands	254,222	197,192	195,887	220,947	208,784	243,879	255,698	329,428	552,827	519,485	462,037	424,249	396,097	350,993	446,134	419,557	268,670	315,949	291,867	296,044
Short-term investments	US$ in thousands	501	1,806	1,812	3,235	4,224	2,919	13,191	14,864	14,420	18,009	14,661	11,693	14,687	12,544	14,564	20,115	23,967	20,845	21,863	17,214
Receivables	US$ in thousands	161,566	161,797	162,225	139,459	221,719	212,845	216,124	202,897	105,894	116,043	120,782	120,365	124,093	164,538	197,775	198,158	202,219	210,449	230,294	238,069
Total current liabilities	US$ in thousands	481,838	464,043	483,880	462,177	494,559	489,034	485,985	494,115	200,777	185,077	183,664	179,862	195,488	185,359	359,151	357,301	248,468	255,411	259,962	238,407
Quick ratio		0.86	0.78	0.74	0.79	0.88	0.94	1.00	1.11	3.35	3.53	3.25	3.09	2.74	2.85	1.83	1.79	1.99	2.14	2.09	2.31

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($254,222K + $501K + $161,566K) ÷ $481,838K
= 0.86

The quick ratio of ICU Medical, Inc. has shown some fluctuations over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.

In the latest quarter, Q4 2023, the quick ratio was 1.06, which suggests that the company had slightly more than enough liquid assets to cover its current liabilities. However, this ratio decreased from the previous quarter, Q3 2023, when it was 0.99.

Looking at the trend over the past two years, the quick ratio has generally been above 1, indicating a strong ability to meet short-term obligations. The highest quick ratio was observed in Q1 2022 at 1.29, while the lowest was in Q4 2022 at 1.09.

Overall, the quick ratio analysis suggests that ICU Medical, Inc. has maintained a healthy liquidity position, but attention should be paid to the recent slight decrease in the ratio to ensure continued stability in meeting short-term financial obligations.