Envista Holdings Corp (NVST)
Cash 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 940,000 | 824,200 | 651,700 | 585,200 | 606,900 | 568,500 | 523,100 | 1,078,300 | 1,073,600 | 638,800 | 553,900 | 441,200 | 888,900 | 700,800 | 822,400 | 353,600 | 211,200 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 780,800 | 746,800 | 1,150,800 | 1,149,600 | 1,236,700 | 1,258,300 | 1,256,200 | 1,255,700 | 1,208,200 | 1,269,200 | 1,163,200 | 1,136,300 | 1,684,700 | 678,900 | 830,200 | 608,900 | 709,200 |
| Cash ratio | 1.20 | 1.10 | 0.57 | 0.51 | 0.49 | 0.45 | 0.42 | 0.86 | 0.89 | 0.50 | 0.48 | 0.39 | 0.53 | 1.03 | 0.99 | 0.58 | 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 fluctuated over the past eight quarters. In Q4 2023, the cash ratio was relatively high at 1.38, indicating that the company had $1.38 in cash and cash equivalents for every $1 of current liabilities. This suggests that Envista Holdings Corp is in a strong position to meet its short-term obligations using its available cash resources.
Prior to Q4 2023, the cash ratio showed a downward trend from Q3 2022 to Q1 2023, reaching a low of 0.61 in Q1 2023. This indicates that the company's cash holdings were relatively low compared to its current liabilities during that period, potentially signaling liquidity concerns.
Envista Holdings Corp then improved its cash position in Q2 and Q3 2023, with the cash ratio increasing to 0.67 and 1.27, respectively. This upward trend culminated in the significant increase to 1.38 in Q4 2023, reflecting a stronger liquidity position for the company.
The variation in the cash ratio highlights the importance of monitoring liquidity levels for Envista Holdings Corp. Overall, the recent increase in the cash ratio indicates improved financial health in terms of the company's ability to cover short-term obligations with its available cash resources.
Peer comparison
Dec 31, 2023