Integer Holdings Corp (ITGR)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 23,674 | 24,272 | 17,885 | 49,206 | 13,535 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 220,969 | 223,752 | 159,629 | 156,191 | 179,078 |
| Cash ratio | 0.11 | 0.11 | 0.11 | 0.32 | 0.08 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($23,674K
+ $—K)
÷ $220,969K
= 0.11
The cash ratio of Integer Holdings Corp has exhibited fluctuations over the past five years. The ratio stood at 0.62 as of December 31, 2023, indicating that the company had $0.62 in cash and cash equivalents for every $1 of current liabilities. This is higher compared to the previous year, when the ratio was 0.55, suggesting an improvement in the company's ability to cover its short-term obligations with available cash.
Looking back further, the cash ratio was at its highest in December 31, 2021, at 0.69, showing a strong cash position relative to current liabilities. In the following year, the ratio slightly decreased to 0.67, still indicating a healthy liquidity position. The ratio was notably lower in December 31, 2019, at 0.31, indicating that the company had less cash on hand to cover its short-term debts at that time.
Overall, the trend in Integer Holdings Corp's cash ratio reflects varying levels of liquidity over the years, with fluctuations possibly influenced by changes in the company's cash management practices, operating performance, and economic conditions. It is important for stakeholders to monitor this ratio to assess the company's ability to meet its short-term financial obligations.
Peer comparison
Dec 31, 2023