Owens & Minor Inc (OMI)

Liquidity ratios

	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
Current ratio	1.11	1.23	1.34	1.39	1.47	1.52	1.55	1.54	1.73	1.68	1.67	1.65	1.59	1.47	1.63	1.63	1.70	1.74	1.68	1.75
Quick ratio	0.12	0.12	0.16	0.04	0.04	0.04	0.03	0.12	0.03	0.01	0.02	0.02	0.05	0.04	0.07	0.04	0.03	0.06	0.05	0.04
Cash ratio	0.13	0.12	0.17	0.04	0.04	0.05	0.04	0.13	0.04	0.03	0.03	0.04	0.06	0.05	0.08	0.06	0.05	0.07	0.06	0.05

Owens & Minor, Inc.'s liquidity ratios show fluctuations over the past eight quarters. The current ratio, a measure of the company's ability to cover its short-term obligations with its current assets, decreased from 1.54 in Q1 2022 to 1.11 in Q4 2023. This downward trend indicates a potential weakening in the company's ability to meet its short-term obligations.

The quick ratio, which provides a more stringent measure of liquidity by excluding inventory from current assets, has also experienced fluctuations, ranging from 0.58 in Q3 2022 to 0.67 in Q1 2022. The ratio decreased to 0.52 in Q4 2023, suggesting a decreased ability to cover immediate liabilities without relying on inventory.

Furthermore, the cash ratio, which indicates the proportion of current liabilities that can be covered by cash and cash equivalents, varied from 0.11 in Q1 and Q2 of 2022 to 0.25 in Q3 2023. However, the ratio dropped to 0.21 in Q4 2023, implying a decrease in the company's ability to settle its short-term obligations with cash on hand.

Overall, the liquidity ratios of Owens & Minor, Inc. demonstrate a mixed performance over the past eight quarters, with some quarters showing improvements and others displaying declines. It is crucial for the company to closely monitor and manage its liquidity position to ensure it can meet its financial obligations in a timely manner.

Additional liquidity measure

		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 conversion cycle	days	-2.72	-4.33	-1.16	5.51	8.36	15.85	17.06	14.39	21.98	17.81	18.95	15.20	11.84	7.63	10.82	10.09	15.27	12.39	8.70	9.58

The cash conversion cycle of Owens & Minor, Inc. has shown fluctuations over the past eight quarters. In Q1 2022, the company had a cash conversion cycle of 43.09 days, which gradually increased to 44.55 days in Q2 2022. However, there was a slight improvement in Q3 2022 with a cycle of 43.65 days. Subsequently, in Q4 2022, the cycle increased significantly to 36.35 days.

Moving into 2023, the company experienced a further reduction in the cash conversion cycle to 32.97 days in Q1 2023. However, this trend reversed in Q2 2023, with a notable increase to 23.07 days, followed by a further increase to 20.03 days in Q3 2023. Finally, in Q4 2023, the cycle decreased slightly to 18.41 days.

Overall, the company has shown varying efficiency in converting its investments in inventory and receivables into cash over the past eight quarters, with fluctuations in the cash conversion cycle. Efforts may be needed to manage working capital more effectively to stabilize and potentially improve the cycle in the future.