Integer Holdings Corp (ITGR)
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 | 23,674 | 32,142 | 38,615 | 40,604 | 24,272 | 20,187 | 15,593 | 25,668 | 17,885 | 25,472 | 30,581 | 28,402 | 49,206 | 99,943 | 206,244 | 37,259 | 13,535 | 14,719 | 15,922 | 13,538 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 1,515 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 240,275 | 231,159 | 239,556 | 252,569 | 226,328 | 225,707 | — | — | 187,045 | — | — | — | 158,294 | — | — | — | — | — | — | — |
| 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 |
| 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 |
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 variability over the past eight quarters. The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.
Looking at the data provided, Integer Holdings Corp's quick ratio has generally been above 1, ranging from 1.56 to 1.94. This indicates that the company has consistently been able to meet its short-term obligations using its quick assets such as cash, marketable securities, and accounts receivable.
The highest quick ratio recorded was 1.94 in Q2 2023, suggesting a strong ability to cover short-term liabilities with liquid assets during that period. Conversely, the lowest quick ratio was 1.56 in Q4 2022, indicating a slight decrease in the company's liquidity position at that point in time.
Overall, Integer Holdings Corp's quick ratio has demonstrated a relatively healthy liquidity position over the past eight quarters, with the company generally maintaining a strong ability to meet short-term obligations with its liquid assets.
Peer comparison
Dec 31, 2023