IDEX Corporation (IEX)

Liquidity ratios

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
Current ratio 2.89 3.11 3.06 3.10 2.57 3.23 3.02 3.59 3.50 3.38 3.32 4.37 4.15 3.71 3.48 3.51 3.52 3.21 3.36 3.33
Quick ratio 1.92 2.09 1.91 1.95 1.61 2.22 2.00 2.44 2.52 2.50 2.38 3.44 3.31 2.81 2.53 2.45 2.60 2.25 2.40 2.33
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

Idex Corporation has shown consistent liquidity strength over the past eight quarters, as indicated by its current ratio, quick ratio, and cash ratio. The current ratio, which measures the company's ability to pay its short-term obligations using current assets, has remained above 2.5 for all quarters, indicating a strong liquidity position. The company's current ratio peaked at 3.23 in Q3 2022 and has since ranged between 2.89 and 3.11.

Similarly, the quick ratio, which provides a more stringent measure of liquidity by excluding inventory from current assets, has also shown a solid performance. With values consistently above 2 for all quarters, the company has demonstrated a strong ability to cover its short-term liabilities without relying on inventory.

Furthermore, Idex Corporation's cash ratio, which specifically assesses the firm's ability to cover its short-term obligations using only cash and cash equivalents, has also shown a positive trend. The cash ratio has generally been above 1, indicating the company has sufficient cash on hand to meet its short-term financial commitments.

Overall, the liquidity ratios suggest that Idex Corporation has a strong liquidity position and is well-equipped to meet its short-term obligations efficiently across the observed quarters.

Additional liquidity measure

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 conversion cycle days 95.86 101.31 108.09 106.55 105.28 103.89 106.04 102.54 92.45 93.99 98.12 87.52 83.50 89.34 92.79 97.81 84.94 87.92 85.00 85.59

The cash conversion cycle for Idex Corporation has shown fluctuations over the past eight quarters. In Q4 2023, the company's cash conversion cycle was at its lowest point over the period at 95.86 days, indicating that the company managed its working capital efficiently during this quarter. However, in Q2 2023 and Q1 2023, the cash conversion cycle increased to 108.09 days and 106.55 days respectively, suggesting that the company took longer to convert its investments in inventory and accounts receivable into cash during these periods.

Comparing Q4 2023 to the same quarter in the previous year, there was a slight improvement as the cash conversion cycle decreased from 105.28 days to 95.86 days. This indicates that Idex Corporation was able to operate more efficiently in converting its working capital into cash in Q4 2023 compared to Q4 2022.

Overall, the trend in the cash conversion cycle for Idex Corporation has been relatively stable, with some fluctuations observed across quarters. It is important for the company to continue monitoring and managing its working capital effectively to ensure a healthy cash conversion cycle and overall financial performance.