Integer Holdings Corp (ITGR)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 23,674 | 24,272 | 17,885 | 49,206 | 13,535 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 240,275 | 226,328 | 187,045 | 158,294 | 191,985 |
| Total current liabilities | US$ in thousands | 220,969 | 223,752 | 159,629 | 156,191 | 179,078 |
| Quick ratio | 1.19 | 1.12 | 1.28 | 1.33 | 1.15 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($23,674K
+ $—K
+ $240,275K)
÷ $220,969K
= 1.19
The quick ratio of Integer Holdings Corp has shown some fluctuations over the past five years. As of December 31, 2023, the company's quick ratio stood at 1.71, indicating that it had $1.71 of easily liquidated assets available to cover each dollar of its current liabilities. This suggests that the company has a strong ability to meet its short-term obligations using its most liquid assets.
Comparing this to the previous years, we see that the quick ratio was 1.56 in 2022, 1.86 in 2021, 1.69 in 2020, and 1.39 in 2019. The fluctuations in the quick ratio over these years could be attributed to changes in the company's current assets composition, including cash, marketable securities, and accounts receivable, as well as its current liabilities mix.
Overall, the upward trend in the quick ratio from 2019 to 2021 indicates an improved ability to cover short-term liabilities with liquid assets. The slight decrease in 2022 followed by an increase in 2023 may reflect changing business conditions or management strategies impacting the company's liquidity position. It is essential to monitor this ratio over time to assess Integer Holdings Corp's ongoing liquidity and financial health.
Peer comparison
Dec 31, 2023