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