IDEXX Laboratories Inc (IDXX)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,495,250 | 1,384,230 | 1,179,020 | 1,149,450 | 1,101,480 | 1,058,860 | 1,042,820 | 1,089,770 | 955,655 | 938,037 | 1,001,230 | 1,097,800 | 1,062,740 | 868,679 | 779,612 | 721,351 | 679,639 | 703,382 | 712,298 | 697,646 |
| 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 |
| Current ratio | 1.57 | 1.43 | 1.33 | 1.08 | 0.89 | 0.89 | 0.89 | 1.12 | 1.25 | 1.48 | 1.54 | 1.77 | 1.82 | 1.65 | 1.44 | 0.85 | 0.94 | 1.12 | 1.15 | 1.01 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,495,250K ÷ $951,547K
= 1.57
The current ratio of Idexx Laboratories, Inc. has shown an improving trend over the past quarters, indicating a strengthening liquidity position. In Q4 2023, the current ratio stood at 1.57, the highest level among the reported quarters. This suggests that Idexx Laboratories has $1.57 in current assets available to cover each dollar of current liabilities, reflecting a healthy liquidity position.
The current ratio has been steadily increasing since Q1 2022, where it was at 1.12, showing consistent improvement in managing short-term obligations. The current ratio exceeding 1 indicates that Idexx Laboratories has more than enough current assets to meet its short-term liabilities, which is a positive indication of financial health and operational efficiency.
Overall, Idexx Laboratories' current ratio trend demonstrates a sound liquidity position, providing sufficient cushion to cover its short-term obligations as of Q4 2023.
Peer comparison
Dec 31, 2023