Innoviva Inc (INVA)
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 | 0.96 | 8.43 | 8.21 | 7.77 | 4.75 | 2.77 | 3.18 | 2.91 | 54.02 | 5.32 | 27.60 | 98.04 | 55.98 | 2.48 | 92.39 | 166.87 | 80.29 | 110.18 | 42.50 | 66.02 |
| Quick ratio | 7.18 | 6.84 | 6.33 | 5.54 | 50.27 | 2.30 | 3.22 | 2.94 | 53.77 | 79.54 | 115.66 | 234.28 | 127.44 | 99.55 | 92.27 | 166.58 | 80.11 | 110.07 | 42.44 | 65.83 |
| Cash ratio | 5.35 | 5.27 | 4.66 | 3.96 | 42.47 | 1.90 | 2.34 | 2.08 | 34.70 | 68.70 | 96.25 | 210.89 | 112.07 | 86.12 | 77.05 | 137.22 | 65.32 | 89.28 | 33.40 | 50.44 |
Innoviva Inc's liquidity ratios have shown a positive trend over the past eight quarters. The current ratio, quick ratio, and cash ratio have all consistently improved, indicating the company's strong liquidity position. The current ratio has increased from 3.29 in Q4 2022 to 9.03 in Q4 2023, reflecting a significant improvement in the company's ability to cover its short-term liabilities with its current assets. Similarly, the quick ratio and cash ratio have also shown substantial growth, reaching 7.96 and 7.58 in Q4 2023, respectively.
These ratios suggest that Innoviva Inc has a robust ability to meet its short-term obligations with its most liquid assets, such as cash and cash equivalents. This improved liquidity position may enhance the company's financial flexibility and provide a cushion against any unexpected financial challenges. Overall, the upward trend in these liquidity ratios indicates that Innoviva Inc has been effectively managing its liquidity and is in a strong position to meet its short-term financial obligations.
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 | 190.70 | 201.69 | 240.47 | 260.36 | 349.07 | 553.56 | 105.54 | 55.72 | 107.79 | 102.14 | 109.16 | 99.59 | 105.92 | 87.83 | 99.60 | 107.63 | 117.10 | 99.82 | 70.46 | 80.55 |
The cash conversion cycle for Innoviva Inc has shown significant fluctuations over the past eight quarters. In Q4 2023, the company's cash conversion cycle improved to 308.21 days from 351.88 days in Q3 2023. This indicates that the company took fewer days to convert its investments in inventory and other resources into cash during this period.
Looking back at the trend, there was a notable decrease in the cash conversion cycle from Q1 2023 (678.80 days) to Q2 2023 (484.84 days), which may suggest improvements in inventory management or more efficient cash collection processes during that quarter. However, it is worth noting that in Q4 2022 and Q3 2022, the cash conversion cycle was exceptionally high at 1,411.77 days and 6,652.17 days, respectively.
The zero days recorded in Q2 2022 and Q1 2022 indicate that Innoviva Inc managed to convert its resources into cash almost instantly during those quarters, likely signaling potential anomalies in the financial data reporting process. It is essential for the company to maintain efficient working capital management practices to ensure a healthy cash conversion cycle and overall financial performance.