Mednax Inc (MD)

Liquidity ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Current ratio	1.47	1.42	1.38	2.06	1.24	1.20	1.24	1.38	0.89	1.20	1.27	1.63	1.88	1.98	2.14	2.04	3.66	3.38	1.79	2.72
Quick ratio	0.80	0.59	0.43	0.56	0.46	0.36	0.33	0.45	0.28	0.28	0.37	0.36	1.24	1.15	1.25	1.13	2.90	0.77	0.58	1.15
Cash ratio	0.80	0.59	0.43	0.56	0.46	0.36	0.33	0.45	0.28	0.28	0.37	0.36	1.24	1.15	1.25	1.13	2.90	0.77	0.58	1.15

Mednax Inc's liquidity ratios have shown fluctuations over the quarters analyzed.

The current ratio, which measures the company's ability to cover its short-term liabilities with its short-term assets, has generally been above 1.0, indicating a strong ability to meet immediate obligations. The ratio peaked at 3.66 on December 31, 2020, but declined thereafter, reaching a low of 0.89 on December 31, 2022. However, the ratio rebounded to 1.47 by December 31, 2024.

The quick ratio, a more conservative measure of liquidity that excludes inventory from current assets, has also exhibited variability. The ratio ranged from a low of 0.28 on December 31, 2022, to a high of 2.90 on December 31, 2020. Despite fluctuations, the quick ratio generally stayed above 1.0 during the period under review.

The cash ratio, which provides the most stringent test of liquidity by considering only cash and cash equivalents relative to current liabilities, mirrored the movement of the quick ratio. It ranged from 0.28 on December 31, 2022, to 2.90 on December 31, 2020, indicating the company maintained a strong cash position relative to its short-term obligations.

Overall, while Mednax Inc experienced fluctuations in its liquidity ratios, particularly in the later quarters, the company generally demonstrated the ability to meet its short-term obligations with its current assets and maintain adequate cash reserves to cover immediate liabilities.

Additional liquidity measure

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cash conversion cycle	days	0.00	0.00	0.00	0.00	3.14	2.45	2.93	0.00	0.00	2.40	0.00	4.17	0.00	3.43	5.21	5.25	0.00	170.88	2.19	2.67

The cash conversion cycle (CCC) of Mednax Inc has shown fluctuations over the periods outlined in the data provided. In March 2020, the company had a CCC of 2.67 days, which improved to 2.19 days by June 2020. However, the CCC significantly increased to 170.88 days in September 2020, indicating a prolonged period between paying suppliers and receiving cash from customers.

The CCC then decreased to 0.00 days in December 2020, suggesting efficient management of working capital during that period. Subsequently, there were fluctuations in the CCC, with slight increases in March 2021 (5.25 days) and June 2021 (5.21 days), followed by a decrease to 3.43 days in September 2021. The CCC remained at 0.00 days in December 2021 but increased to 4.17 days in March 2022.

In the more recent periods, the CCC fluctuated between 0.00 days and 3.14 days, indicating varying efficiency in managing cash flows, inventory, and receivables. Overall, the trend in the CCC of Mednax Inc shows periods of efficient cash conversion, as evidenced by low or zero CCC, interspersed with periods of longer cash cycles which may require closer attention to working capital management.