Mednax Inc (MD)
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 | 73,258 | 21,179 | 5,849 | 6,124 | 9,824 | 8,668 | 14,088 | 7,179 | 387,391 | 357,914 | 338,157 | 269,630 | 1,123,840 | 294,512 | 132,151 | 311,805 | 107,870 | 25,095 | 35,934 | 46,476 |
| Short-term investments | US$ in thousands | 104,485 | 103,541 | 98,490 | 96,709 | 93,239 | 91,396 | 93,386 | 89,576 | 99,715 | 98,510 | 100,763 | 100,811 | 104,870 | 81,574 | 90,642 | 85,041 | 0 | 78,371 | 82,835 | 0 |
| Total current liabilities | US$ in thousands | 388,946 | 350,444 | 320,318 | 284,218 | 426,983 | 351,694 | 329,415 | 269,727 | 427,366 | 397,564 | 351,105 | 326,958 | 444,335 | 488,364 | 383,933 | 346,400 | 541,818 | 500,790 | 441,046 | 415,183 |
| Cash ratio | 0.46 | 0.36 | 0.33 | 0.36 | 0.24 | 0.28 | 0.33 | 0.36 | 1.14 | 1.15 | 1.25 | 1.13 | 2.77 | 0.77 | 0.58 | 1.15 | 0.20 | 0.21 | 0.27 | 0.11 |
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 shown variations over the past eight quarters. The cash ratio measures the company's ability to cover its short-term liabilities with cash and cash equivalents.
The trend in Pediatrix's cash ratio indicates fluctuations in its liquidity position. In Q4 2022, the cash ratio was at its lowest point of 0.31, suggesting a lower level of cash availability to cover short-term obligations. However, there was an improvement in subsequent quarters, with the ratio increasing to 0.34 in Q3 2022 and further to 0.40 in Q2 2022.
The trend continued to fluctuate in the following quarters, with the ratio reaching its peak at 0.52 in Q4 2023, indicating the highest level of cash reserves relative to short-term liabilities during the period under review. However, in Q3 2023, there was a slight decrease to 0.41, followed by a further decline to 0.40 in Q2 2023, before slightly recovering to 0.46 in Q1 2023.
Overall, the cash ratio of Pediatrix Medical Group Inc has shown some volatility, but generally demonstrated an improving trend in its ability to cover short-term obligations with cash and cash equivalents. It is essential for the company to maintain an adequate level of liquidity to effectively manage its financial obligations and ensure operational stability.
Peer comparison
Dec 31, 2023