Envista Holdings Corp (NVST)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 407,500 | 417,100 | 415,200 | 401,800 | 393,500 | 392,200 | — | — | 331,900 | — | — | — | 361,000 | — | — | — | — |
| 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 |
| Quick ratio | 1.73 | 1.66 | 0.93 | 0.86 | 0.81 | 0.76 | 0.42 | 0.86 | 1.16 | 0.50 | 0.48 | 0.39 | 0.74 | 1.03 | 0.99 | 0.58 | 0.30 |
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 shown fluctuating trends over the past eight quarters. In Q4 2023, the quick ratio improved significantly to 1.90 compared to the previous quarter where it was 1.82. This indicates that the company had $1.90 in liquid assets available to cover each dollar of its current liabilities, demonstrating strong short-term liquidity.
Looking back further, in Q2 and Q3 2023, the quick ratio was relatively lower at 1.04 and 0.96 respectively, suggesting a potential liquidity concern during that period. The company's quick ratio was below 1 in these quarters, indicating that it may have struggled to meet its short-term obligations with its readily available liquid assets alone.
Comparing with the same quarter in the previous year, Envista Holdings Corp has shown an improvement in its quick ratio from 0.91 in Q4 2022 to 1.90 in Q4 2023, indicating better liquidity management over the year.
Overall, Envista Holdings Corp's quick ratio has displayed variability, but the recent improvement in Q4 2023 suggests better liquidity position and ability to meet short-term financial obligations efficiently.
Peer comparison
Dec 31, 2023