Merit Medical Systems Inc (MMSI)
Quick 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 | US$ in thousands | 587,036 | 58,673 | 72,084 | 57,945 | 58,408 | 51,481 | 63,003 | 53,875 | 67,750 | 68,904 | 69,672 | 58,519 | 56,916 | 44,551 | 49,702 | 50,080 | 44,320 | 37,315 | 35,182 | 49,522 |
| Short-term investments | US$ in thousands | — | 2,320 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 188,402 | 181,400 | 183,624 | 184,741 | 177,669 | 166,655 | 169,428 | 167,607 | 170,064 | 161,439 | 161,819 | 159,033 | 154,415 | 150,030 | 147,006 | 159,296 | 165,381 | 156,434 | 167,964 | 157,182 |
| Total current liabilities | US$ in thousands | 203,564 | 187,133 | 190,003 | 215,952 | 220,645 | 213,035 | 195,590 | 203,831 | 236,280 | 213,475 | 210,604 | 207,678 | 185,004 | 186,047 | 174,224 | 165,291 | 181,656 | 153,213 | 176,551 | 178,459 |
| Quick ratio | 3.81 | 1.30 | 1.35 | 1.12 | 1.07 | 1.02 | 1.19 | 1.09 | 1.01 | 1.08 | 1.10 | 1.05 | 1.14 | 1.05 | 1.13 | 1.27 | 1.15 | 1.26 | 1.15 | 1.16 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($587,036K
+ $—K
+ $188,402K)
÷ $203,564K
= 3.81
The quick ratio of Merit Medical Systems, Inc. shows fluctuations over the past eight quarters. In Q4 2023, the quick ratio was 3.95, indicating a strong ability to cover short-term obligations with liquid assets. This significant increase from the previous quarter suggests improved liquidity position. However, in Q1 2023, the quick ratio dropped to 1.24, showing a lower level of liquidity compared to the latest quarter.
Looking at the quarterly trend, there have been fluctuations in the quick ratio over the past year. The quick ratio peaked at 3.95 in Q4 2023 and reached its lowest point at 1.19 in both Q3 and Q4 2022. Overall, the quick ratio has generally been above 1, indicating that Merit Medical Systems, Inc. has maintained a sufficient level of liquid assets to cover its short-term liabilities.
It is essential for investors and stakeholders to monitor the trend of the quick ratio over time to assess the company's ability to meet its short-term financial obligations. The recent improvement in the quick ratio in Q4 2023 reflects a stronger liquidity position compared to previous quarters.
Peer comparison
Dec 31, 2023