Proto Labs Inc (PRLB)
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 | 83,790 | 83,496 | 66,493 | 62,051 | 56,558 | 59,361 | 54,666 | 57,239 | 65,929 | 47,802 | 41,909 | 43,774 | 127,603 | 118,254 | 98,003 | 91,905 | 125,225 | 121,568 | 100,535 | 85,350 |
| Short-term investments | US$ in thousands | 19,013 | 19,204 | 19,945 | 22,851 | 23,568 | 25,253 | 24,379 | 19,914 | 11,580 | 16,542 | 18,341 | 19,592 | 34,088 | 30,993 | 33,128 | 38,194 | 35,437 | 23,642 | 35,867 | 35,045 |
| Receivables | US$ in thousands | 85,176 | 79,286 | 75,902 | 78,440 | 80,267 | 81,374 | 85,096 | 86,647 | 81,372 | 87,395 | 88,045 | 76,429 | 58,417 | 61,266 | 61,392 | 62,091 | 57,450 | 66,921 | 65,400 | 64,387 |
| Total current liabilities | US$ in thousands | 49,681 | 74,628 | 66,221 | 78,380 | 71,581 | 60,720 | 58,916 | 60,251 | 54,896 | 56,063 | 62,417 | 59,849 | 50,254 | 51,693 | 51,103 | 47,297 | 47,581 | 54,808 | 51,433 | 41,443 |
| Quick ratio | 3.78 | 2.44 | 2.45 | 2.08 | 2.24 | 2.73 | 2.79 | 2.72 | 2.89 | 2.71 | 2.38 | 2.34 | 4.38 | 4.07 | 3.77 | 4.06 | 4.58 | 3.87 | 3.92 | 4.46 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($83,790K
+ $19,013K
+ $85,176K)
÷ $49,681K
= 3.78
The quick ratio of Proto Labs Inc has been relatively stable over the past eight quarters, ranging between 2.23 and 3.76. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A higher quick ratio suggests that Proto Labs Inc is well-positioned to cover its short-term liabilities with its current assets that can be quickly converted into cash.
In Q4 2023, the quick ratio increased significantly to 3.76, indicating a strong liquidity position compared to the previous quarters. This could be a result of increased cash or highly liquid assets on hand relative to current liabilities during that period. The relatively high quick ratio in Q4 2023 may suggest improved financial stability and a reduced risk of liquidity issues for Proto Labs Inc.
Despite some fluctuations over the quarters, the quick ratio has generally remained above 2, indicating a healthy liquidity position for the company. Investors and stakeholders typically view a quick ratio above 1 as favorable, as it suggests that the company is able to cover its short-term obligations without having to rely heavily on selling inventory or obtaining additional financing. Overall, Proto Labs Inc's quick ratio trend reflects a consistent ability to meet its short-term obligations, which is a positive sign for its financial health.
Peer comparison
Dec 31, 2023