NeoGenomics Inc (NEO)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 596,812 | 605,291 | 681,508 | 448,730 | 290,738 |
| Total current liabilities | US$ in thousands | 96,304 | 89,932 | 87,232 | 73,183 | 63,904 |
| Current ratio | 6.20 | 6.73 | 7.81 | 6.13 | 4.55 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $596,812K ÷ $96,304K
= 6.20
The current ratio of Neogenomics Inc. has shown a consistent upward trend over the past five years, indicating a strong liquidity position. The current ratio has steadily improved from 4.55 in 2019 to 6.20 in 2023. This suggests that the company has more than enough current assets to cover its current liabilities, with the ability to meet short-term obligations comfortably. The highest current ratio of 7.81 in 2021 indicates the company's ability to quickly convert current assets into cash to settle short-term debts. Overall, the company's solid current ratio reflects a healthy financial position and efficient management of its current assets and liabilities.