IDEX Corporation (IEX)
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 | 534,300 | 562,700 | 457,000 | 510,700 | 430,200 | 680,700 | 557,800 | 733,200 | 855,400 | 806,497 | 714,380 | 958,142 | 1,025,900 | 877,758 | 746,348 | 569,219 | 632,581 | 515,985 | 543,189 | 456,130 |
| Short-term investments | US$ in thousands | — | 24,600 | 19,100 | 3,200 | — | 38,800 | 41,800 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 500,300 | 487,500 | 486,600 | 491,900 | 543,600 | 506,500 | 513,800 | 468,300 | 480,000 | 469,108 | 450,359 | 377,513 | 399,000 | 409,699 | 401,307 | 366,890 | 357,877 | 370,670 | 361,791 | 339,247 |
| Cash ratio | 1.07 | 1.20 | 0.98 | 1.04 | 0.79 | 1.42 | 1.17 | 1.57 | 1.78 | 1.72 | 1.59 | 2.54 | 2.57 | 2.14 | 1.86 | 1.55 | 1.77 | 1.39 | 1.50 | 1.34 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($534,300K
+ $—K)
÷ $500,300K
= 1.07
The cash ratio measures a company's ability to cover its short-term liabilities with its available cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations.
Analyzing Idex Corporation's cash ratio over the last eight quarters reveals fluctuations in the company's liquidity position. The cash ratio ranged from a low of 0.89 in Q4 2022 to a high of 1.80 in Q1 2022.
In the most recent quarter, Q4 2023, Idex Corporation's cash ratio stood at 1.19, showing a slight decrease compared to the previous quarter but maintaining a healthy level above 1. This suggests that the company has sufficient cash on hand to cover its short-term liabilities, providing a buffer against potential financial challenges.
Overall, while the cash ratio has fluctuated over the quarters, the consistent values above 1 indicate that Idex Corporation has generally maintained a strong liquidity position, which is crucial for meeting its short-term obligations and managing financial risks effectively.
Peer comparison
Dec 31, 2023