Omnicell Inc (OMCL)
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 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 468,000 | 446,800 | 399,500 | 340,413 | 330,362 | 266,402 | 244,953 | 265,008 | 349,051 | 481,549 | 614,236 | 548,055 | 485,928 | 629,171 | 133,583 | 104,080 | 127,210 | 137,300 | 87,482 | 77,244 |
| Short-term investments | US$ in thousands | 11,867 | 11,618 | 11,078 | 11,053 | 11,486 | 12,586 | 12,312 | 11,103 | 10,665 | 10,529 | 10,364 | 10,222 | 10,246 | 22,510 | 17 | — | — | — | — | — |
| Receivables | US$ in thousands | 252,025 | 272,584 | 273,899 | 322,073 | 299,469 | 354,098 | 310,520 | 290,469 | 240,894 | 233,729 | 209,953 | 205,658 | 190,117 | 188,102 | 188,918 | 233,068 | 218,362 | 203,391 | 205,353 | 203,489 |
| Total current liabilities | US$ in thousands | 367,792 | 369,361 | 370,157 | 453,968 | 428,446 | 376,681 | 373,514 | 951,012 | 876,158 | 338,662 | 317,112 | 292,273 | 276,423 | 233,876 | 236,563 | 248,440 | 236,996 | 228,170 | 211,384 | 210,622 |
| Quick ratio | 1.99 | 1.98 | 1.85 | 1.48 | 1.50 | 1.68 | 1.52 | 0.60 | 0.69 | 2.14 | 2.63 | 2.61 | 2.48 | 3.59 | 1.36 | 1.36 | 1.46 | 1.49 | 1.39 | 1.33 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($468,000K
+ $11,867K
+ $252,025K)
÷ $367,792K
= 1.99
The quick ratio of Omnicell, Inc. has exhibited a fluctuating trend over the past eight quarters. The company's quick ratio ranged from a low of 0.63 in Q1 2022 to a high of 2.10 in Q4 2023. Generally, a quick ratio above 1 indicates that the company's current assets, excluding inventory, are sufficient to cover its current liabilities, which suggests good liquidity.
The quick ratio increased steadily from Q1 2022 to Q3 2023, reaching a peak of 2.10 in Q4 2023. This upward trend indicates an improvement in the company's ability to meet its short-term obligations without relying on inventory. However, the decrease from 2.08 in Q3 2023 to 1.94 in Q2 2023 followed by a more significant drop to 1.57 in Q1 2023 may raise concerns about the company's short-term liquidity position during those periods.
Overall, while the quick ratio has shown some volatility, the recent peak in Q4 2023 suggests that Omnicell, Inc. has made improvements in managing its short-term liquidity. It would be essential to monitor future trends in the quick ratio to assess the company's ongoing ability to meet its immediate financial obligations.
Peer comparison
Dec 31, 2023