Impinj Inc (PI)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | 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 |
| Receivables | US$ in thousands | 54,919 | 49,996 | 35,449 | 25,003 | 23,735 |
| Total current liabilities | US$ in thousands | 30,880 | 42,369 | 35,503 | 27,593 | 19,497 |
| Quick ratio | 5.45 | 5.28 | 6.44 | 4.75 | 7.19 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($94,793K
+ $18,440K
+ $54,919K)
÷ $30,880K
= 5.45
The quick ratio of Impinj Inc has remained relatively stable over the past five years, ranging from 4.75 to 7.19. This indicates the company's ability to meet its short-term obligations using its most liquid assets, such as cash, cash equivalents, and accounts receivable. A higher quick ratio typically suggests better liquidity and financial health, as it signifies that the company has an ample amount of liquid assets to cover its current liabilities.
Impinj Inc's quick ratio has been consistently above 1.0 across the five-year period, indicating that the company has more than enough liquid assets to cover its short-term debt obligations. This implies a strong ability to manage its short-term financial obligations without relying heavily on external financing.
The increasing trend observed from 2020 to 2021, with the quick ratio rising from 4.75 to 6.44, suggests an improvement in liquidity and an enhanced ability to meet short-term obligations. However, the slight fluctuations in the quick ratio from 2021 to 2023 indicate some variability in the company's liquidity position over the years.
Overall, Impinj Inc's consistent quick ratios above 1.0 reflect a robust liquidity position and efficient management of short-term obligations, which are positive indicators of the company's financial stability and operational efficiency.
Peer comparison
Dec 31, 2023