Integer Holdings Corp (ITGR)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 617,668 | 609,344 | 615,928 | 628,989 | 558,298 | 556,617 | 533,013 | 494,790 | 452,982 | 442,567 | 434,243 | 409,237 | 412,937 | 498,653 | 579,502 | 460,822 | 415,395 | 453,071 | 445,786 | 437,190 |
| Total current liabilities | US$ in thousands | 220,969 | 203,101 | 199,832 | 225,475 | 223,752 | 198,762 | 197,726 | 173,082 | 159,629 | 156,410 | 164,127 | 161,551 | 156,191 | 153,460 | 153,648 | 186,129 | 179,078 | 188,938 | 183,942 | 171,503 |
| Current ratio | 2.80 | 3.00 | 3.08 | 2.79 | 2.50 | 2.80 | 2.70 | 2.86 | 2.84 | 2.83 | 2.65 | 2.53 | 2.64 | 3.25 | 3.77 | 2.48 | 2.32 | 2.40 | 2.42 | 2.55 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $617,668K ÷ $220,969K
= 2.80
Integer Holdings Corp's current ratio has shown some fluctuations over the past eight quarters, ranging from a low of 2.50 in Q4 2022 to a high of 3.08 in Q2 2023. Generally, the company has maintained a healthy current ratio above the industry average of 2.0, indicating a strong ability to meet its short-term liabilities with current assets.
The current ratio exceeding 2.0 in all quarters suggests that Integer Holdings Corp has a comfortable margin of safety to cover its short-term obligations. A higher current ratio indicates a stronger liquidity position, as seen in Q2 and Q3 2023. However, the slight decline in Q4 2023 to 2.80 from the previous quarter's 3.00 could warrant monitoring, although it remains at a healthy level.
Overall, Integer Holdings Corp's current ratio trend indicates effective management of current assets and liabilities, providing stability and flexibility in meeting financial obligations in the short term.
Peer comparison
Dec 31, 2023