IDEXX Laboratories Inc (IDXX)
Cash ratio
| 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 and cash equivalents | US$ in thousands | 288,266 | 308,636 | 401,590 | 397,433 | 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 |
| Short-term investments | US$ in thousands | — | -185,873 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,067,920 | 1,009,220 | 1,116,700 | 956,902 | 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 |
| Cash ratio | 0.27 | 0.12 | 0.36 | 0.42 | 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 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($288,266K
+ $—K)
÷ $1,067,920K
= 0.27
IDEXX Laboratories Inc's cash ratio has shown some fluctuation over the reported periods. The cash ratio represents the company's ability to cover its short-term liabilities with its available cash and cash equivalents.
The trend of the cash ratio indicates that the company's liquidity position improved significantly from March 2020 to December 2021, peaking at 0.66 at the end of December 2020. However, there was a gradual decline in the cash ratio from December 2021 to June 2022, reaching a low of 0.10.
Subsequently, there was some fluctuation in the cash ratio between June 2022 and December 2024, with values ranging from 0.08 to 0.48. Overall, the cash ratio remained above 0.10 during most of the periods, indicating that IDEXX Laboratories Inc generally had sufficient cash to cover its short-term obligations.
Investors and analysts generally look for a cash ratio of at least 0.1 to ensure a company can meet its short-term liabilities. IDEXX Laboratories Inc's cash ratios have mostly met this benchmark, showing a reasonable level of liquidity throughout the reported periods. However, fluctuations in the cash ratio suggest that monitoring the company's liquidity position would be important for stakeholders.
Peer comparison
Dec 31, 2024