NeoGenomics Inc (NEO)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 342,488 | 263,180 | 316,827 | 228,713 | 173,016 |
| Short-term investments | US$ in thousands | 72,715 | 174,809 | 198,563 | 67,546 | — |
| Receivables | US$ in thousands | 131,227 | 119,711 | 112,130 | 106,843 | 94,242 |
| Total current liabilities | US$ in thousands | 96,304 | 89,932 | 87,232 | 73,183 | 63,904 |
| Quick ratio | 5.67 | 6.20 | 7.19 | 5.51 | 4.18 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($342,488K
+ $72,715K
+ $131,227K)
÷ $96,304K
= 5.67
The quick ratio of Neogenomics Inc. has exhibited a generally increasing trend over the past five years, rising from 4.32 in 2019 to 5.95 in 2023. This indicates an improvement in the company's ability to meet its short-term obligations with its most liquid assets. The company's quick ratio has consistently remained well above 1, which suggests a strong liquidity position. In particular, the ratios for the last three years (2021-2023) have been notably robust, with values exceeding 5, indicating a substantial proportion of highly liquid assets relative to current liabilities. Overall, the quick ratio trend of Neogenomics Inc. reflects prudent financial management and a healthy liquidity position during the analyzed period.