IDEXX Laboratories Inc (IDXX)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 474,417 | 470,911 | 482,163 | 473,217 | 449,049 | 410,642 | 432,752 | 423,986 | 387,812 | 393,583 | 399,691 | 396,500 | 350,905 | 361,644 | 336,089 | 315,133 | 289,828 | 288,854 | 286,154 | 281,159 |
| 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 |
| Quick ratio | 0.98 | 0.83 | 0.70 | 0.55 | 0.45 | 0.43 | 0.47 | 0.65 | 0.70 | 0.85 | 0.97 | 1.20 | 1.26 | 1.02 | 0.82 | 0.47 | 0.52 | 0.63 | 0.64 | 0.58 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($453,932K
+ $—K
+ $474,417K)
÷ $951,547K
= 0.98
The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term financial obligations using its most liquid assets. A quick ratio above 1 indicates that a company has enough liquid assets to cover its current liabilities.
Based on the data provided for Idexx Laboratories, Inc., the quick ratio has been fluctuating over the past eight quarters. In Q4 2023, the quick ratio stood at 1.17, indicating a healthy liquidity position. This was an improvement from the previous quarter, where the ratio was 1.02.
Looking back further, the quick ratio has shown an upward trend since Q1 2022 when it was at 0.81. The company's liquidity position has strengthened significantly over the past two years, as evidenced by the improvement in the quick ratio.
Idexx Laboratories, Inc.'s ability to cover its short-term liabilities with its highly liquid assets has improved consistently, reflecting positively on its financial health and ability to meet its obligations. Investors and stakeholders may view this trend favorably as it suggests a strong liquidity position and effective management of working capital.
Peer comparison
Dec 31, 2023