Intuitive Surgical Inc (ISRG)

Quick 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	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
Receivables	US$ in thousands	1,130,200	962,700	904,200	925,300	942,100	849,600	838,500	906,100	782,700	695,000	699,900	654,300	645,500	588,600	508,800	527,600	645,200	639,000	633,400	547,600
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
Quick ratio		3.83	4.44	4.36	4.30	3.56	4.19	4.50	4.41	4.36	4.70	5.12	5.76	6.03	6.01	5.40	4.00	3.75	3.80	4.15	4.53

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,750,100K + $2,473,100K + $1,130,200K) ÷ $1,658,700K
= 3.83

The quick ratio of Intuitive Surgical Inc has shown a generally stable and healthy trend over the past eight quarters. The quick ratio, which measures the company's ability to meet its short-term obligations using its most liquid assets, has consistently remained above 1, indicating a strong liquidity position.

The quick ratio ranged from 3.77 to 4.63 during the period under review, with the highest value of 4.74 recorded in Q3 2022. This demonstrates that Intuitive Surgical Inc has ample liquid assets to cover its current liabilities, providing a buffer against potential financial distress.

The company's quick ratio above 1 also indicates that it is not overly reliant on inventory to meet its short-term obligations, which can be a positive sign of efficient inventory management. Overall, the trend in Intuitive Surgical Inc's quick ratio suggests a robust liquidity position and a capacity to meet its short-term financial commitments effectively.