Penumbra Inc (PEN)
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 | 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 |
| Quick ratio | 3.25 | 3.14 | 2.98 | 2.78 | 2.70 | 2.70 | 2.69 | 2.95 | 3.16 | 3.33 | 1.72 | 3.30 | 3.58 | 3.53 | 4.84 | 3.09 | 3.24 | 3.44 | 4.10 | 2.74 |
| Cash ratio | 1.91 | 1.72 | 1.53 | 1.36 | 1.30 | 1.33 | 1.40 | 1.85 | 2.07 | 2.30 | 1.72 | 2.17 | 2.50 | 2.49 | 3.59 | 1.91 | 2.08 | 2.26 | 2.68 | 1.38 |
Penumbra Inc's liquidity ratios reflect a strong liquidity position over the past eight quarters. The current ratio has consistently remained above 5, indicating the company's ability to cover its short-term obligations with its current assets. The trend shows a slight increase over time, reaching 6.06 in Q4 2023.
The quick ratio, which provides a more stringent measure of liquidity by excluding inventory from current assets, has also shown a positive trend, exceeding 3 in every quarter. This indicates that Penumbra Inc can meet its short-term liabilities using its most liquid assets.
The cash ratio, which is the most conservative measure of liquidity, has also demonstrated a solid performance, consistently above 1.5. This implies that the company holds sufficient cash and near-cash assets to cover its current liabilities without relying on inventory or receivables.
Overall, Penumbra Inc's liquidity ratios suggest a robust liquidity position, with ample reserves to meet its short-term financial obligations. The upward trend in these ratios over time indicates an improvement in the company's liquidity management.
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 | 420.00 | 425.89 | 432.46 | 439.43 | 447.25 | 432.99 | 417.21 | 393.50 | 400.73 | 397.08 | 363.29 | 441.56 | 412.02 | 404.73 | 410.02 | 372.61 | 357.47 | 346.12 | 349.48 | 332.20 |
The cash conversion cycle of Penumbra Inc in Q4 2023 was 420.00 days, showing a slight improvement compared to the previous quarter. The company's cash conversion cycle has been fluctuating over the past eight quarters, with a peak of 447.25 days in Q4 2022. Overall, Penumbra Inc's cash conversion cycle has been relatively high, indicating that the company takes a considerable amount of time to convert its investments in inventory and receivables into cash. This may suggest inefficiencies in managing inventory levels and collection of receivables, which could impact the company's liquidity and working capital management. Monitoring and potentially reducing the cash conversion cycle could help improve Penumbra Inc's financial performance and operational efficiency in the long run.