Quidel Corporation (QDEL)
Cash ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | ||
|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 118,900 | 149,300 | 178,600 | 353,900 | 292,900 | 212,200 | 379,000 |
| Short-term investments | US$ in thousands | 48,400 | 43,900 | 45,100 | 42,800 | 52,100 | 51,800 | 52,500 |
| Total current liabilities | US$ in thousands | 833,800 | 860,000 | 790,000 | 907,800 | 1,007,000 | 872,700 | 900,000 |
| Cash ratio | 0.20 | 0.22 | 0.28 | 0.44 | 0.34 | 0.30 | 0.48 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($118,900K
+ $48,400K)
÷ $833,800K
= 0.20
The cash ratio measures a company's ability to cover its short-term liabilities with its available cash and cash equivalents. Quidel Corporation's cash ratio has fluctuated over the past seven quarters, ranging from a low of 0.20 to a high of 0.48.
In the most recent quarter, as of December 31, 2023, Quidel Corporation had a cash ratio of 0.20, indicating that the company had $0.20 of cash and cash equivalents for every $1 of its current liabilities. This ratio suggests that Quidel may have a limited ability to cover its short-term obligations solely through its cash holdings.
It's worth noting that the cash ratio has been trending downwards since the high of 0.48 in the second quarter of 2022. This decreasing trend could raise concerns about Quidel's liquidity position and its ability to meet its short-term obligations using its available cash reserves.
Overall, the declining trend in Quidel Corporation's cash ratio warrants further attention and monitoring to assess the company's liquidity position and its ability to manage its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023