Envista Holdings Corp (NVST)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 940,000 | 606,900 | 1,073,600 | 888,900 | 211,200 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 407,500 | 393,500 | 331,900 | 361,000 | 443,600 |
| Total current liabilities | US$ in thousands | 780,800 | 1,236,700 | 1,208,200 | 1,684,700 | 709,200 |
| Quick ratio | 1.73 | 0.81 | 1.16 | 0.74 | 0.92 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($940,000K
+ $—K
+ $407,500K)
÷ $780,800K
= 1.73
The quick ratio of Envista Holdings Corp has fluctuated over the past five years, indicating varying levels of liquidity. The ratio was highest in 2023 at 1.90, suggesting the company had a strong ability to cover its short-term liabilities with its most liquid assets. In contrast, the ratio was lowest in 2020 at 0.79, indicating potential liquidity challenges during that period.
Overall, the quick ratio trend for Envista Holdings Corp shows some volatility, with improvements in liquidity in certain years, but also periods of lower liquidity levels. Investors and stakeholders may want to further investigate the reasons behind these fluctuations to assess the company's ability to meet its short-term obligations.
Peer comparison
Dec 31, 2023