Innovex International, Inc (INVX)
Current ratio
| Jun 30, 2025 | Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 670,105 | 632,638 | 641,391 | 677,332 | 707,550 | 715,145 | 719,717 | 295,686 | 755,156 | 752,111 | 752,588 | 745,758 | 747,863 | 717,376 | 745,549 | 827,271 | 849,286 | 844,721 | 863,193 | 863,002 |
| Total current liabilities | US$ in thousands | 145,745 | 145,819 | 162,658 | 174,805 | 126,429 | 133,556 | 117,703 | 103,143 | 88,124 | 83,360 | 87,555 | 89,287 | 84,856 | 70,321 | 93,663 | 91,826 | 106,535 | 95,307 | 85,512 | 100,982 |
| Current ratio | 4.60 | 4.34 | 3.94 | 3.87 | 5.60 | 5.35 | 6.11 | 2.87 | 8.57 | 9.02 | 8.60 | 8.35 | 8.81 | 10.20 | 7.96 | 9.01 | 7.97 | 8.86 | 10.09 | 8.55 |
June 30, 2025 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $670,105K ÷ $145,745K
= 4.60
The current ratio of Innovex International, Inc. exhibits notable fluctuations over the specified periods. Historically, the ratio remained relatively high, ranging from approximately 7.96 to 10.20 during the fiscal years ending March 2021 through March 2023, indicating a strong liquidity position and sufficient short-term assets to cover current liabilities. This stability suggests that the company maintained conservative liquidity management during this period.
However, there is a marked decline in the current ratio commencing in September 2023, where it sharply decreases to 2.87 from prior levels exceeding 8.0. This substantial reduction signals a significant weakening in liquidity, implying that the company's current assets relative to current liabilities have diminished considerably. The ratio remains below 4.0 through the subsequent quarters, though a slight improvement is observed, with values around 3.87 to 4.60 in the most recent periods.
The substantial drop in the current ratio in late 2023 could be attributed to factors such as increased current liabilities, a decline in liquid current assets, or a combination thereof. This change may reflect operational or strategic adjustments, financial restructuring, or adverse market conditions impacting asset liquidity.
In conclusion, while Innovex International, Inc. maintained a strong current ratio for the majority of the analyzed period, recent data indicate a considerable deterioration in liquidity position, warranting further investigation into underlying causes and potential implications for short-term financial stability.
Peer comparison
Jun 30, 2025