IDEXX Laboratories Inc (IDXX)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 453,932 | 112,546 | 144,454 | 383,928 | 90,326 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 951,547 | 1,235,800 | 763,579 | 582,761 | 725,337 |
| Cash ratio | 0.48 | 0.09 | 0.19 | 0.66 | 0.12 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($453,932K
+ $—K)
÷ $951,547K
= 0.48
The cash ratio for Idexx Laboratories, Inc. has fluctuated over the past five years, ranging from a low of 0.23 in 2022 to a high of 0.86 in 2020. The cash ratio measures the company's ability to cover its short-term liabilities with its available cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet its short-term obligations using cash on hand.
In 2023, the cash ratio of 0.67 signifies that the company has $0.67 in liquid assets available to cover each dollar of its current liabilities. This ratio indicates an improvement in the company's liquidity position compared to the previous year. While the ratio is not at its highest level seen in 2020, it still demonstrates a reasonable ability to meet short-term obligations with cash reserves.
Overall, it is important for investors and stakeholders to monitor Idexx Laboratories, Inc.'s cash ratio over time to assess its liquidity position and ability to meet its short-term financial commitments effectively.
Peer comparison
Dec 31, 2023