Penumbra Inc (PEN)

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 167,486 100,757 114,167 94,688 69,858 54,844 58,234 68,163 59,379 66,290 82,277 55,632 69,670 80,115 134,381 72,456 72,779 111,581 77,261 67,850
Short-term investments US$ in thousands 121,701 148,098 106,896 104,409 118,172 129,583 146,135 172,178 195,496 200,637 156,722 186,977 195,162 188,611 143,914 95,766 116,610 82,864 109,996 27,756
Receivables US$ in thousands 201,768 206,615 208,965 207,364 203,384 189,006 187,389 143,417 133,940 120,074 — 126,415 114,608 112,817 97,600 103,963 105,901 101,828 99,011 94,679
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
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

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($167,486K + $121,701K + $201,768K) ÷ $151,144K
= 3.25

The quick ratio of Penumbra Inc has shown a consistently healthy trend over the past eight quarters, indicating a strong ability to meet its short-term obligations with its most liquid assets. The quick ratio has ranged from 2.90 to 3.49 during this period, with an average value of approximately 3.10. This suggests that the company has a sufficient level of liquid assets, such as cash and accounts receivable, to cover its current liabilities without relying heavily on inventory. Overall, the quick ratio reflects a robust liquidity position for Penumbra Inc, providing a sense of financial stability and capability to manage short-term financial obligations effectively.