IDEXX Laboratories Inc (IDXX)
Cash 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 and cash equivalents | US$ in thousands | 453,932 | 331,696 | 132,838 | 111,367 | 112,546 | 99,176 | 114,362 | 204,618 | 144,454 | 145,203 | 232,134 | 351,163 | 383,928 | 175,587 | 105,293 | 81,395 | 90,326 | 103,996 | 110,845 | 116,616 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 951,547 | 970,193 | 883,859 | 1,065,630 | 1,235,800 | 1,189,940 | 1,166,550 | 971,341 | 763,579 | 633,849 | 651,809 | 620,662 | 582,761 | 526,841 | 540,584 | 846,241 | 725,337 | 626,627 | 618,909 | 689,619 |
| Cash ratio | 0.48 | 0.34 | 0.15 | 0.10 | 0.09 | 0.08 | 0.10 | 0.21 | 0.19 | 0.23 | 0.36 | 0.57 | 0.66 | 0.33 | 0.19 | 0.10 | 0.12 | 0.17 | 0.18 | 0.17 |
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 eight quarters. As of Q4 2023, the company's cash ratio stands at 0.67, indicating that it has $0.67 in cash and cash equivalents for every $1 of current liabilities. This represents an improvement compared to the previous quarter's ratio of 0.54.
Looking at the trend over the past year, the cash ratio has generally been increasing since Q1 2023, indicating a strengthening liquidity position for the company. However, it is important to note that the cash ratio was relatively low in Q1 and Q2 2023 at 0.27 and 0.34 respectively, suggesting a potential liquidity challenge during that time.
Comparing the current ratio of Q4 2023 to the same quarter of the previous year (Q4 2022), there has been a notable improvement from 0.23 to 0.67, signaling enhanced liquidity management by Idexx Laboratories, Inc.
Overall, a higher cash ratio is generally considered favorable as it signifies the company's ability to cover its short-term liabilities with its readily available cash resources. However, it is important for investors and analysts to monitor this ratio closely to ensure the company maintains a healthy liquidity position in the long run.
Peer comparison
Dec 31, 2023