LeMaitre Vascular Inc (LMAT)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 24,269 | 19,134 | 13,855 | 26,764 | 11,786 |
| Short-term investments | US$ in thousands | 80,805 | 63,557 | 56,104 | 214 | 20,894 |
| Total current liabilities | US$ in thousands | 29,879 | 25,329 | 21,813 | 25,145 | 20,851 |
| Cash ratio | 3.52 | 3.26 | 3.21 | 1.07 | 1.57 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($24,269K
+ $80,805K)
÷ $29,879K
= 3.52
The cash ratio of Lemaitre Vascular Inc has shown a generally positive trend over the past five years. The ratio has consistently increased from 1.96 in 2019 to 3.73 in 2022 and 2023, indicating the company's ability to cover its short-term liabilities with its cash and cash equivalents has improved significantly.
A cash ratio of 3.73 in 2023 means that for every dollar of current liabilities, Lemaitre Vascular Inc holds $3.73 in cash and cash equivalents, reflecting a strong liquidity position. This suggests that the company has a sufficient amount of liquid assets to comfortably meet its short-term obligations without relying heavily on other sources of funding.
The increasing trend in the cash ratio over the years indicates that Lemaitre Vascular Inc has been effectively managing its cash resources, potentially through effective cash flow management, prudent investment decisions, or efficient working capital management.
Overall, the consistent improvement in the cash ratio demonstrates Lemaitre Vascular Inc's strengthening liquidity position and ability to weather potential financial challenges in the short term.
Peer comparison
Dec 31, 2023