Innovex International, Inc (INVX)
Quick 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 68,781 | 68,116 | 73,278 | 99,895 | 189,219 | 202,300 | 191,400 | 8,307 | 236,490 | 235,343 | 264,804 | 290,279 | 320,784 | 338,008 | 355,451 | 375,172 | 370,481 | 362,213 | 345,955 | 359,171 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 4,016 | 25,908 | 8,911 | 18,795 | 18,921 | 32,232 | 25,287 | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 220,966 | 269,094 | 266,343 | 250,590 | 287,162 | 276,745 | 283,998 | 131,734 | 274,624 | 282,496 | 235,932 | 220,199 | 216,324 | 195,923 | 203,584 | 217,072 | 235,817 | 243,319 | 256,520 | 238,851 |
| 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 |
| Quick ratio | 1.99 | 2.31 | 2.09 | 2.01 | 3.77 | 3.62 | 4.26 | 1.44 | 6.01 | 6.44 | 6.09 | 6.00 | 6.33 | 7.59 | 5.97 | 6.45 | 5.69 | 6.35 | 7.05 | 5.92 |
June 30, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($68,781K
+ $—K
+ $220,966K)
÷ $145,745K
= 1.99
The quick ratio of Innovex International, Inc. demonstrates notable fluctuations over the analyzed period from September 2020 to June 2025. During the initial years, the ratio consistently remained above 5.0, reaching a peak of 7.59 in March 2022. This indicates a strong liquidity position, suggesting that the company possessed sufficient liquid assets to cover its current liabilities without relying on inventory sales.
Starting from September 2023, there is a significant decline in the quick ratio, dropping to a low of 1.44. This sharp decrease signals a deterioration in liquidity, implying that the company's liquid assets relative to its current liabilities have substantially diminished. The ratio, however, shows some improvement toward the end of the period, rising to approximately 4.26 in December 2023 and fluctuating around 2.01 to 2.31 in the subsequent quarters.
Overall, the data indicates that Innovex International, Inc.'s liquidity position was robust prior to late 2023 but experienced a significant weakening around that period. The decline may reflect increased current liabilities, reduced liquid assets, or a combination of both, raising potential concerns about short-term financial flexibility. The partial recovery observed in late 2023 and early 2024 suggests some stabilization, although the ratio remains considerably lower than earlier levels, emphasizing the need for ongoing liquidity management.
Peer comparison
Jun 30, 2025