Novanta Inc (NOVT)
Cash ratio
| 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 and cash equivalents | US$ in thousands | 113,989 | 92,690 | 98,468 | 93,520 | 105,051 | 75,961 | 91,330 | 82,676 | 100,105 | 84,580 | 100,489 | 98,805 | 117,393 | 102,395 | 133,853 | 113,562 | 125,054 | 106,630 | 97,494 | 73,701 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 167,791 | 156,600 | 153,470 | 151,406 | 139,175 | 138,389 | 135,978 | 142,353 | 164,522 | 158,057 | 198,400 | 182,975 | 183,938 | 187,974 | 126,554 | 117,377 | 114,229 | 133,553 | 129,277 | 135,416 |
| Cash ratio | 0.68 | 0.59 | 0.64 | 0.62 | 0.75 | 0.55 | 0.67 | 0.58 | 0.61 | 0.54 | 0.51 | 0.54 | 0.64 | 0.54 | 1.06 | 0.97 | 1.09 | 0.80 | 0.75 | 0.54 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($113,989K
+ $—K)
÷ $167,791K
= 0.68
Novanta Inc's cash ratio has shown fluctuation over the period from March 31, 2020, to December 31, 2024. The cash ratio measures the company's ability to cover its short-term liabilities with its available cash and cash equivalents.
The ratio increased from 0.54 on March 31, 2020, to a peak of 1.09 on December 31, 2020, indicating an improvement in Novanta's liquidity position during that period. However, the ratio then fluctuated, showing a decrease to 0.54 on September 30, 2021, before reaching 1.06 on June 30, 2021.
Subsequently, the ratio declined again, hitting a low of 0.51 on June 30, 2022, before showing some recovery. The ratio remained around 0.60 in the following periods, suggesting the company's cash position was relatively stable but not significantly improving.
Overall, Novanta Inc's cash ratio displayed variability but generally stayed within the range of 0.50 to 1.10 over the analyzed period, indicating a moderate ability to cover its short-term obligations with its available cash and cash equivalents.
Peer comparison
Dec 31, 2024