IDEXX Laboratories Inc (IDXX)
Cash ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 288,266 | 453,932 | 112,546 | 144,454 | 383,928 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,067,920 | 951,547 | 1,235,800 | 763,579 | 582,761 |
| Cash ratio | 0.27 | 0.48 | 0.09 | 0.19 | 0.66 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($288,266K
+ $—K)
÷ $1,067,920K
= 0.27
The cash ratio of IDEXX Laboratories Inc has shown fluctuation over the years based on the provided data. It was 0.66 as of December 31, 2020, indicating the company had $0.66 in cash and cash equivalents for every $1 of current liabilities. However, the ratio decreased significantly to 0.19 by the end of 2021, implying a lower ability to cover short-term liabilities with cash on hand.
By December 31, 2022, the cash ratio dropped further to 0.09, reflecting a continued decrease in the company's liquidity position. The ratio then improved to 0.48 by the end of 2023, suggesting a better ability to meet short-term obligations using cash reserves.
In the most recent period as of December 31, 2024, the cash ratio stood at 0.27, demonstrating some volatility in the company's cash position relative to its short-term liabilities. Overall, a cash ratio below 1 may indicate potential liquidity challenges for IDEXX Laboratories Inc, highlighting the importance of monitoring its cash management practices and strategic financial planning.
Peer comparison
Dec 31, 2024