Innoviva Inc (INVA)
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 | 304,964 | 260,630 | 217,003 | 178,357 | 193,513 | 179,997 | 173,025 | 144,049 | 291,049 | 300,789 | 283,580 | 216,802 | 201,525 | 135,115 | 43,265 | 282,890 | 246,487 | 479,193 | 413,147 | 351,981 |
| Short-term investments | US$ in thousands | 107,532 | — | — | — | 0 | -422,491 | -397,940 | -400,894 | 403,013 | 282 | — | 544,437 | 483,845 | 507,116 | 473,677 | 519,325 | 438,258 | 111,745 | 3,999 | 31,970 |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 236,083 | 223,750 | 28,206 | 29,879 | 38,134 | 36,183 | 39,398 | 38,137 | 38,775 | 36,653 | 125,908 | 13,211 | 5,807 | 3,125 | 5,371 | 3,804 | 6,110 | 3,898 | 5,414 | 2,798 |
| Quick ratio | 1.75 | 1.16 | 7.69 | 5.97 | 5.07 | -6.70 | -5.71 | -6.73 | 17.90 | 8.21 | 2.25 | 57.62 | 118.02 | 205.51 | 96.25 | 210.89 | 112.07 | 151.60 | 77.05 | 137.22 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($304,964K
+ $107,532K
+ $—K)
÷ $236,083K
= 1.75
The quick ratio of Innoviva Inc has displayed fluctuations over the periods shown in the data. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.
In March 2020, the quick ratio was exceptionally high at 137.22, indicating a strong ability to cover short-term liabilities. Subsequently, the ratio decreased but remained above 1 in June 2020 and December 2020, showing continued liquidity. However, there was a notable increase in the quick ratio in March 2021 to 210.89, reflecting even better liquidity.
The ratio decreased in June 2021 but remained above 1, indicating a healthy position. It then rose sharply in September 2021 to 205.51, signaling very high liquidity. However, the ratio dropped significantly in the following quarters, reaching its lowest point in June 2022 at 2.25, indicating potential liquidity issues.
The quick ratio improved in subsequent periods but remained volatile, with negative ratios seen in some quarters, which could be a cause for concern. Overall, the fluctuating quick ratio of Innoviva Inc suggests varying levels of liquidity and highlights the importance of monitoring the company's ability to meet its short-term obligations with liquid assets.
Peer comparison
Dec 31, 2024