RadNet Inc (RDNT)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 342,570 | 127,834 | 134,606 | 102,018 | 40,165 |
| Short-term investments | US$ in thousands | — | — | — | 34,528 | — |
| Total current liabilities | US$ in thousands | 437,452 | 466,723 | 374,784 | 398,114 | 327,428 |
| Cash ratio | 0.78 | 0.27 | 0.36 | 0.34 | 0.12 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($342,570K
+ $—K)
÷ $437,452K
= 0.78
The cash ratio for Radnet Inc has shown a generally positive trend over the past five years, indicating the company's ability to cover its short-term liabilities with its available cash and cash equivalents.
In 2023, the cash ratio stood at 0.89, significantly higher than the ratios in the previous years. This suggests that the company improved its liquidity position in the most recent year, which could be attributed to effective cash management strategies or increased cash reserves.
The cash ratio of 0.39 in 2022 was lower compared to 2023 but still higher than the two preceding years. This indicates that the company's liquidity position had improved in comparison to 2020 and 2019 but experienced a slight dip compared to 2021.
The ratio of 0.49 in 2021 was higher than the ratios in 2020 and 2019, showing an enhancement in the company's ability to meet its short-term obligations with cash on hand.
In 2020, the cash ratio was 0.34, which was an improvement from 2019 when the ratio was 0.26. This indicates that the company's liquidity position strengthened in 2020 compared to the previous year.
Overall, the increasing trend in Radnet Inc's cash ratio over the past five years reflects a positive liquidity position, suggesting that the company has been effective in managing its cash flow and maintaining sufficient liquid assets to meet its short-term obligations.
Peer comparison
Dec 31, 2023