IDEX Corporation (IEX)
Quick ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 620,800 | 633,200 | 700,700 | 616,300 | 534,300 | 562,700 | 457,000 | 510,700 | 430,200 | 680,700 | 557,800 | 733,200 | 855,400 | 806,497 | 714,380 | 958,142 | 1,025,850 | 877,758 | 746,348 | 569,219 |
| Short-term investments | US$ in thousands | — | — | 4,400 | 4,400 | 4,400 | 24,600 | 19,100 | 3,200 | — | 38,800 | 41,800 | 44,500 | 45,300 | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 629,700 | 564,600 | 477,400 | 460,600 | 500,300 | 487,500 | 486,600 | 491,900 | 543,600 | 506,500 | 513,800 | 468,300 | 480,000 | 469,108 | 450,359 | 377,513 | 399,058 | 409,699 | 401,307 | 366,890 |
| Quick ratio | 0.99 | 1.12 | 1.48 | 1.35 | 1.08 | 1.20 | 0.98 | 1.04 | 0.79 | 1.42 | 1.17 | 1.66 | 1.88 | 1.72 | 1.59 | 2.54 | 2.57 | 2.14 | 1.86 | 1.55 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($620,800K
+ $—K
+ $—K)
÷ $629,700K
= 0.99
The quick ratio of IDEX Corporation has exhibited fluctuations over the period under consideration. It started at 1.55 as of March 31, 2020, showing the company had $1.55 of liquid assets available to cover each dollar of current liabilities. The ratio gradually increased to a peak of 2.57 as of December 31, 2020, indicating a strong liquidity position. However, in the subsequent quarters, the quick ratio experienced some fluctuation, with values ranging between 1.17 and 1.88.
The quick ratio dropped significantly to 0.79 as of December 31, 2022, suggesting a liquidity strain as the company had less than $1 of liquid assets for every dollar of current liabilities. This could potentially indicate a risk in meeting short-term obligations. The ratio recovered in the following periods, showing an upward trend, but still remained below the previous peak levels.
Overall, the quick ratio trend indicates fluctuations in the company's ability to quickly cover its current liabilities with its liquid assets. It is essential for investors and analysts to monitor these fluctuations to assess IDEX Corporation's short-term liquidity position and financial health.
Peer comparison
Dec 31, 2024