Proto Labs Inc (PRLB)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 83,790 | 56,558 | 65,929 | 127,603 | 125,225 |
| Short-term investments | US$ in thousands | 19,013 | 23,568 | 11,580 | 34,088 | 35,437 |
| Total current liabilities | US$ in thousands | 49,681 | 71,581 | 54,896 | 50,254 | 47,581 |
| Cash ratio | 2.07 | 1.12 | 1.41 | 3.22 | 3.38 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($83,790K
+ $19,013K)
÷ $49,681K
= 2.07
Proto Labs Inc's cash ratio has fluctuated over the past five years. In 2023, the cash ratio stands at 2.25, indicating that the company had $2.25 in cash and cash equivalents for every dollar of current liabilities. This represents an improvement from the previous year when the cash ratio was 1.30.
Comparing to 2021 and 2020, where the cash ratio was 1.62 and 3.44 respectively. In 2019, the cash ratio was 3.55, which was the highest among all the years mentioned. This indicates that Proto Labs Inc had a stronger liquidity position five years ago compared to the recent years.
Overall, the trend in Proto Labs Inc's cash ratio suggests some variability in the company's ability to cover its short-term obligations with cash and cash equivalents. It is important for investors and analysts to further examine the company's cash management practices and overall liquidity position to assess its financial health.
Peer comparison
Dec 31, 2023