Impinj Inc (PI)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 94,793 | 19,597 | 123,903 | 23,636 | 66,898 |
| Short-term investments | US$ in thousands | 18,440 | 154,148 | 69,443 | 82,453 | 49,597 |
| Total current liabilities | US$ in thousands | 30,880 | 42,369 | 35,503 | 27,593 | 19,497 |
| Cash ratio | 3.67 | 4.10 | 5.45 | 3.84 | 5.98 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($94,793K
+ $18,440K)
÷ $30,880K
= 3.67
The cash ratio of Impinj Inc has displayed some fluctuation over the past five years. The cash ratio measures the company's ability to cover its short-term obligations with its available cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term debt obligations without relying on external sources of funding.
In 2023, the cash ratio decreased to 3.67 from 4.10 in 2022, suggesting a slight reduction in the company's ability to cover its short-term liabilities with cash on hand. Despite the decrease, the cash ratio remains at a relatively healthy level.
Comparing the cash ratio to prior years, in 2021, Impinj Inc had a cash ratio of 5.45, signaling a strong ability to meet short-term obligations with available cash. The ratios in 2020 and 2019 were 3.84 and 5.98 respectively, showing some variability in the company's cash position over the years.
Overall, while the cash ratio has fluctuated, Impinj Inc has generally maintained a solid position in terms of its ability to cover short-term obligations with cash reserves. However, it is important for the company to monitor its cash levels closely to ensure continued liquidity and financial stability.
Peer comparison
Dec 31, 2023