Mednax Inc (MD)

Cash ratio

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cash and cash equivalents US$ in thousands 73,258 9,824 387,391 1,123,840 107,870
Short-term investments US$ in thousands 104,485 93,239 99,715 104,870 0
Total current liabilities US$ in thousands 388,946 426,983 427,366 444,335 541,818
Cash ratio 0.46 0.24 1.14 2.77 0.20

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($73,258K + $104,485K) ÷ $388,946K
= 0.46

The cash ratio of Pediatrix Medical Group Inc has fluctuated over the past five years, ranging from 0.31 to 2.94. A higher cash ratio indicates a company has more liquid assets available to cover its short-term liabilities.

In 2023, the cash ratio was 0.52, reflecting an improvement from the previous year's ratio of 0.31. This increase suggests that the company had a higher level of cash and cash equivalents relative to its current liabilities in 2023 compared to 2022.

However, when compared to the ratios in 2021 and 2020, the cash ratio in 2023 is lower. In 2021, the company had a significantly higher cash ratio of 1.23, indicating a stronger liquidity position. The ratio then peaked in 2020 at 2.94, showing a substantial increase in the company's ability to cover its short-term obligations with cash.

The cash ratio in 2019 was 0.43, which is closer to the 2023 ratio. This suggests that the company's liquidity position in 2023 was similar to that of 2019.

Overall, analyzing the trend of the cash ratio over the past five years can provide insights into Pediatrix Medical Group Inc's liquidity management and financial health.


Peer comparison

Dec 31, 2023

Company name
Symbol
Cash ratio
Mednax Inc
MD
0.46
Encompass Health Corp
EHC
0.16
Select Medical Holdings
SEM
0.11