Innoviva Inc (INVA)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 36,585 | 33,245 | 313,673 | 342,058 | 431,234 |
| Total current liabilities | US$ in thousands | 38,134 | 7,004 | 5,807 | 6,110 | 5,371 |
| Current ratio | 0.96 | 4.75 | 54.02 | 55.98 | 80.29 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $36,585K ÷ $38,134K
= 0.96
The current ratio of Innoviva Inc has displayed significant fluctuations over the past five years. In 2019, the company had a high current ratio of 80.29, indicating a very strong liquidity position with a significant amount of current assets relative to current liabilities. However, this ratio dropped considerably in 2020 and 2021 to 55.98 and 54.02 respectively, still indicating a strong liquidity position but less so compared to the previous year.
In 2022, there was a notable decrease in the current ratio to 3.29, suggesting a potentially concerning liquidity position as the current assets were only slightly higher than current liabilities. However, in 2023, there was a significant improvement in the current ratio to 9.03, indicating a stronger liquidity position compared to the previous year, but still lower than the levels seen in 2019.
Overall, the current ratio of Innoviva Inc has experienced fluctuations, with the company showing strong liquidity in some years and weaker liquidity in others. It is important to assess the underlying reasons for these variations in the current ratio to understand the company's ability to meet its short-term obligations efficiently.
Peer comparison
Dec 31, 2023