IDEXX Laboratories Inc (IDXX)
Current ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,399,900 | 1,495,250 | 1,101,480 | 955,655 | 1,062,740 |
| Total current liabilities | US$ in thousands | 1,067,920 | 951,547 | 1,235,800 | 763,579 | 582,761 |
| Current ratio | 1.31 | 1.57 | 0.89 | 1.25 | 1.82 |
December 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,399,900K ÷ $1,067,920K
= 1.31
The current ratio of IDEXX Laboratories Inc has fluctuated over the years. As of December 31, 2020, the current ratio was 1.82, indicating that the company had $1.82 in current assets to cover each dollar of current liabilities. However, by December 31, 2022, the current ratio decreased to 0.89, suggesting a potential liquidity concern as the company had only $0.89 in current assets for every dollar of current liabilities.
Subsequently, the current ratio improved to 1.57 by December 31, 2023, showing a recovery in the company's short-term liquidity position. As of December 31, 2024, the current ratio stood at 1.31, slightly lower than the previous year but still indicating that IDEXX Laboratories Inc maintains a healthy level of current assets to meet its short-term obligations.
Overall, while there have been fluctuations in IDEXX Laboratories Inc's current ratio in recent years, the company has generally maintained a reasonable level of liquidity to cover its current liabilities, with the ratio staying above 1 in most years.
Peer comparison
Dec 31, 2024