Innovex International, Inc (INVX)
Current ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 641,391 | 719,717 | 282,387 | 192,911 | 863,193 |
| Total current liabilities | US$ in thousands | 162,658 | 117,703 | 85,020 | 69,571 | 85,512 |
| Current ratio | 3.94 | 6.11 | 3.32 | 2.77 | 10.09 |
December 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $641,391K ÷ $162,658K
= 3.94
The current ratio of Innovex International, Inc. has exhibited notable fluctuations over the specified periods. As of December 31, 2020, the company maintained a high current ratio of 10.09, indicating a robust liquidity position with sufficient current assets to cover current liabilities multiple times over. However, by the end of December 31, 2021, this ratio declined significantly to 2.77, reflecting a decrease in liquidity strength or a relative increase in current liabilities, although it remains well above the commonly accepted minimum threshold of 1.0 for short-term solvency.
In the subsequent year, December 31, 2022, the current ratio experienced a moderate increase to 3.32, suggesting a temporary improvement in liquidity metrics. Nevertheless, this ratio declined again to 2.77 in December 31, 2023, indicating a weakening of liquidity compared to the previous year, yet still maintaining a position comfortably above the critical threshold.
Most recently, as of December 31, 2024, the current ratio further decreased to 3.94. Although this figure is lower than the 2020 peak, it indicates that the company's liquidity position remains healthy, affording sufficient coverage of short-term obligations, though margins for error and liquidity buffer have narrowed compared to the initial period analyzed. Overall, the trend reflects an initial high liquidity position, followed by fluctuations, but generally maintaining a satisfactory level of liquidity through the time span.
Peer comparison
Dec 31, 2024