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.