Incyte Corporation (INCY)

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	4,645,400	4,402,660	4,264,430	3,971,630	4,092,850	3,821,110	3,625,840	3,288,090	3,118,670	2,923,800	2,620,060	2,449,970	2,359,890	2,159,420	2,077,620	1,716,170	2,481,490	2,319,600	2,058,620	1,904,500
Total current liabilities	US$ in thousands	1,240,380	1,124,680	1,118,770	1,006,110	1,157,080	1,006,600	926,674	886,163	854,308	742,712	660,324	623,881	631,195	606,202	556,513	503,412	513,340	461,683	367,105	364,515
Current ratio		3.75	3.91	3.81	3.95	3.54	3.80	3.91	3.71	3.65	3.94	3.97	3.93	3.74	3.56	3.73	3.41	4.83	5.02	5.61	5.22

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $4,645,400K ÷ $1,240,380K
= 3.75

The current ratio of Incyte Corp. has shown fluctuations over the past eight quarters. The current ratio measures the company's ability to cover its short-term liabilities with its short-term assets. A higher current ratio indicates a stronger liquidity position.

In Q4 2023, Incyte Corp. reported a current ratio of 3.75, a slight decrease from the previous quarter. However, the current ratio remains relatively high, signaling the company's ability to cover its short-term obligations.

Looking at the trend over the past two years, there have been variations in the current ratio, ranging from a low of 3.54 in Q4 2022 to a high of 3.95 in Q1 2023. These fluctuations may be influenced by factors such as changes in the company's asset and liability structure, operational performance, and management of working capital.

Overall, Incyte Corp. has maintained a healthy current ratio above the industry average, which indicates a sound liquidity position and ability to meet its short-term financial obligations. Investors and stakeholders may find this consistent performance reassuring in terms of the company's financial stability.