LeMaitre Vascular Inc (LMAT)
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 | 6.51 | 6.28 | 6.75 | 6.89 | 6.39 | 6.53 | 6.34 | 7.74 | 6.41 | 6.06 | 4.19 | 4.07 | 3.75 | 2.30 | 2.07 | 5.41 | 4.42 | 5.16 | 5.63 | 4.92 |
| Quick ratio | 4.36 | 4.16 | 4.51 | 4.45 | 4.13 | 4.26 | 4.15 | 5.05 | 4.11 | 3.92 | 1.98 | 1.97 | 1.85 | 1.21 | 0.96 | 2.85 | 2.36 | 3.09 | 3.66 | 3.25 |
| Cash ratio | 3.52 | 3.34 | 3.49 | 3.39 | 3.26 | 3.40 | 3.23 | 3.88 | 3.21 | 3.03 | 1.01 | 1.06 | 1.07 | 0.77 | 0.56 | 1.85 | 1.57 | 2.32 | 2.77 | 2.45 |
Lemaitre Vascular Inc's liquidity ratios indicate a strong ability to meet its short-term obligations. The current ratio has been consistently above 6 in the last eight quarters, suggesting that the company has ample current assets to cover its current liabilities. The quick ratio, which is a more stringent measure of liquidity excluding inventory, has also remained high, mostly above 4, indicating that Lemaitre Vascular can meet its short-term obligations even if inventory cannot be converted quickly.
The cash ratio, which measures the company's ability to pay off its current liabilities with cash and cash equivalents, has also been consistently healthy, ranging from 3.60 to 4.31 over the past two years. This indicates that Lemaitre Vascular has a sufficient cash cushion to cover its short-term liabilities without relying on the sale of inventory.
Overall, Lemaitre Vascular Inc's liquidity ratios suggest that the company is well-positioned to meet its short-term financial obligations and has a strong liquidity position.
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 | 166.40 | 165.72 | 166.14 | 169.44 | 164.41 | 158.44 | 162.41 | 170.35 | 171.23 | 169.47 | 177.92 | 195.18 | 201.71 | 203.85 | 217.48 | 185.63 | 180.07 | 180.06 | 175.69 | 167.98 |
The cash conversion cycle of Lemaitre Vascular Inc has shown some variability over the past quarters. In Q4 2023, the company's cash conversion cycle was 345.86 days, indicating an increase from the previous quarter. This means that, on average, it takes the company approximately 345.86 days to convert its investments in inventory and other resources back into cash.
The trend in the cash conversion cycle over the past few quarters shows some fluctuations, with Q3 2023 having a lower cycle of 307.43 days compared to Q2 2023 and Q1 2023. However, Q4 2023 saw a notable increase compared to the earlier quarters, possibly indicating challenges in efficiently managing the company's working capital and cash flow.
Comparing Q4 2023 to the same quarter in the prior year, there has been an increase in the cash conversion cycle from 322.29 days to 345.86 days. This suggests that Lemaitre Vascular Inc may be experiencing delays or inefficiencies in converting its resources into revenue-generating activities.
Overall, a higher cash conversion cycle may tie up the company's funds for a longer period, potentially impacting its liquidity and ability to respond to financial obligations promptly. It is essential for the company to monitor and improve its working capital management strategies to optimize the cash conversion cycle and enhance overall financial performance.