LivaNova PLC (LIVN)

Cash 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 and cash equivalents	US$ in thousands	266,504	233,941	222,935	214,340	214,172	231,114	109,022	128,737	207,992	181,846	329,386	252,539	252,832	227,811	232,549	125,823	61,137	75,313	44,511	50,776
Short-term investments	US$ in thousands	—	-2	—	—	-34	—	-35	—	-8	16,000	15,000	36,772	-6	30,358	30,245	40	-44	—	—	—
Total current liabilities	US$ in thousands	334,983	295,396	288,164	316,129	297,398	288,016	263,893	307,914	696,970	658,465	702,248	295,356	309,052	281,759	268,364	529,724	512,553	469,191	595,909	622,310
Cash ratio		0.80	0.79	0.77	0.68	0.72	0.80	0.41	0.42	0.30	0.30	0.49	0.98	0.82	0.92	0.98	0.24	0.12	0.16	0.07	0.08

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($266,504K + $—K) ÷ $334,983K
= 0.80

The cash ratio of LivaNova PLC has exhibited some fluctuations over the past eight quarters. The ratio provides insight into the company's ability to cover its short-term liabilities with its cash and cash equivalents.

Looking at the data provided, we can observe that the cash ratio has generally remained above 1, indicating that LivaNova has been able to cover its short-term liabilities with its available cash and cash equivalents each quarter.

In particular, there was a notable increase in the cash ratio in Q3 2023, where it reached 1.03, suggesting a stronger liquidity position during that period. However, the ratio dipped slightly in Q4 2023 to 0.94 but still remained above 1, indicating continued capacity to meet short-term obligations with cash on hand.

Overall, the trend of the cash ratio for LivaNova PLC demonstrates a consistent ability to maintain liquidity and meet short-term financial obligations with its available cash reserves.