Integer Holdings Corp (ITGR)

Liquidity ratios

	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
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
Quick ratio	1.19	1.30	1.39	1.30	1.12	1.24	0.08	0.15	1.28	0.16	0.19	0.18	1.33	0.65	1.34	0.20	0.08	0.08	0.09	0.08
Cash ratio	0.11	0.16	0.19	0.18	0.11	0.11	0.08	0.15	0.11	0.16	0.19	0.18	0.32	0.65	1.34	0.20	0.08	0.08	0.09	0.08

Integer Holdings Corp's liquidity ratios have shown relatively stable and healthy trends over the past eight quarters.

The current ratio, which measures the company's ability to cover its short-term liabilities with its current assets, has consistently been above 2, indicating that Integer Holdings Corp has more than enough current assets to meet its short-term obligations. The ratio has ranged from 2.50 to 3.08, showing a strong liquidity position throughout the periods analyzed.

The quick ratio, also known as the acid-test ratio, provides a more stringent measure of liquidity by excluding inventory from current assets. Integer Holdings Corp's quick ratio has also been robust, ranging from 1.56 to 1.94 over the period, indicating that the company can cover its short-term liabilities without relying on selling inventory.

The cash ratio, which is the most conservative measure of liquidity, evaluates a company's ability to pay off its current liabilities using only its cash and cash equivalents. Integer Holdings Corp's cash ratio has varied from 0.55 to 0.74, illustrating that the company has a solid cash position to meet its short-term obligations.

Overall, Integer Holdings Corp's liquidity ratios suggest that the company has maintained a strong liquidity position, with sufficient current assets and cash reserves to support its short-term financial needs consistently.

Additional liquidity measure

		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 conversion cycle	days	98.62	89.11	94.03	94.84	90.98	98.00	29.11	27.55	84.27	28.42	29.87	36.40	91.67	51.73	55.66	40.96	46.40	42.31	39.84	38.04

The cash conversion cycle of Integer Holdings Corp fluctuated over the past eight quarters. In Q4 2023, the company's cash conversion cycle was 91.92 days, slightly lower than the previous quarter. This indicates that Integer Holdings Corp efficiently managed its cash, inventory, and accounts receivable during this period.

Looking at the trend over the past two years, Q1 and Q2 of 2023 saw a peak in the cash conversion cycle at 98.57 days and 98.30 days, respectively. This suggests that the company took longer to convert its investments in inventory and accounts receivable into cash during these quarters.

Comparatively, Q3 2022 had the highest cash conversion cycle at 103.54 days, indicating a potential inefficiency in managing working capital and cash flow. However, this was followed by improvements in subsequent quarters.

Overall, Integer Holdings Corp should continue monitoring and optimizing its cash conversion cycle to ensure efficient utilization of resources and maximize cash flow.