Envista Holdings Corp (NVST)
Cash ratio
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Cash and cash equivalents | US$ in thousands | 940,000 | 606,900 | 1,073,600 | 888,900 | 211,200 |
Short-term investments | US$ in thousands | — | — | — | — | — |
Total current liabilities | US$ in thousands | 780,800 | 1,236,700 | 1,208,200 | 1,684,700 | 709,200 |
Cash ratio | 1.20 | 0.49 | 0.89 | 0.53 | 0.30 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($940,000K
+ $—K)
÷ $780,800K
= 1.20
The cash ratio of Envista Holdings Corp has shown a fluctuating trend over the past five years. In 2019, the company had a relatively low cash ratio of 0.40, indicating a lower level of cash and cash equivalents compared to its current liabilities. However, in subsequent years, there was a noticeable improvement in the cash ratio, reaching 1.38 at the end of 2023. This indicates that Envista Holdings Corp has significantly increased its liquidity position, with sufficient cash on hand to cover its short-term liabilities. Overall, the increasing trend in the cash ratio reflects a positive development in the company's liquidity management and financial health over the years.
Peer comparison
Dec 31, 2023