Intuitive Surgical Inc (ISRG)

Cash ratio

		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 and cash equivalents	US$ in thousands	2,750,100	3,602,000	3,435,400	2,143,000	1,581,200	1,538,000	1,536,100	1,103,100	1,290,900	1,346,700	1,615,500	1,401,800	1,622,600	1,370,600	2,035,600	1,223,800	1,167,600	969,600	790,300	875,700
Short-term investments	US$ in thousands	2,473,100	2,873,700	2,363,800	2,549,200	2,541,000	2,781,000	2,909,900	2,892,200	2,940,000	2,785,300	2,823,700	3,155,700	3,548,900	3,413,500	2,452,700	2,029,600	2,054,100	1,928,000	1,928,100	1,933,000
Total current liabilities	US$ in thousands	1,658,700	1,676,400	1,538,400	1,307,400	1,422,100	1,233,400	1,175,000	1,112,200	1,149,800	1,027,300	1,004,600	904,600	965,200	894,700	924,800	945,900	1,030,200	930,900	807,500	740,200
Cash ratio		3.15	3.86	3.77	3.59	2.90	3.50	3.78	3.59	3.68	4.02	4.42	5.04	5.36	5.35	4.85	3.44	3.13	3.11	3.37	3.79

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($2,750,100K + $2,473,100K) ÷ $1,658,700K
= 3.15

Intuitive Surgical Inc's cash ratio, a liquidity ratio that measures a company's ability to cover its short-term liabilities with cash and cash equivalents, has shown a fluctuating trend over the past eight quarters. The company's cash ratio ranged from a low of 3.11 in Q4 2022 to a high of 4.05 in Q3 2023.

A higher cash ratio indicates a stronger ability to cover short-term obligations with available cash, while a lower ratio may suggest potential liquidity challenges. Intuitive Surgical Inc's cash ratio has generally been healthy and above 3, indicating a prudent level of liquidity management.

The slight variations in the cash ratio over the quarters may be influenced by factors such as changes in cash reserves, operating cash flows, investment decisions, and debt levels. It is essential for investors and analysts to monitor this ratio over time to assess the company's liquidity position and financial health accurately.