Penumbra Inc (PEN)

Current 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
Total current assets	US$ in thousands	915,402	868,476	827,876	786,490	755,699	723,625	717,961	690,326	681,474	667,987	411,699	635,127	617,702	590,199	575,895	453,740	463,134	451,334	434,604	423,086
Total current liabilities	US$ in thousands	151,144	145,078	144,124	146,328	144,932	138,332	145,604	130,099	123,197	116,059	139,190	111,862	105,932	108,055	77,612	88,074	91,048	86,167	69,761	69,412
Current ratio		6.06	5.99	5.74	5.37	5.21	5.23	4.93	5.31	5.53	5.76	2.96	5.68	5.83	5.46	7.42	5.15	5.09	5.24	6.23	6.10

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $915,402K ÷ $151,144K
= 6.06

Based on the historical data provided for Penumbra Inc's current ratio, we observe fluctuations in the ratio over the past eight quarters. The current ratio, which measures the company's ability to cover its short-term liabilities with its current assets, has ranged from a low of 4.93 in Q2 2022 to a high of 6.06 in Q4 2023.

The upward trend in the current ratio from Q1 2023 to Q4 2023 indicates an improvement in Penumbra Inc's short-term liquidity position. This suggests that the company may have increased its current assets relative to its current liabilities during this period.

Although the current ratio has shown some variability, it has generally remained above 5.0 over the past two years, indicating that Penumbra Inc has maintained a strong ability to meet its short-term obligations. However, it is essential to consider other factors such as the composition of current assets and liabilities to gain a more comprehensive understanding of the company's liquidity position.