RadNet Inc (RDNT)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 342,570 | 127,834 | 134,606 | 102,018 | 40,165 |
| Short-term investments | US$ in thousands | — | — | — | 34,528 | — |
| Receivables | US$ in thousands | 163,707 | 185,328 | 140,446 | 135,421 | 156,005 |
| Total current liabilities | US$ in thousands | 437,452 | 466,723 | 374,784 | 398,114 | 327,428 |
| Quick ratio | 1.16 | 0.67 | 0.73 | 0.68 | 0.60 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($342,570K
+ $—K
+ $163,707K)
÷ $437,452K
= 1.16
The quick ratio of Radnet Inc has shown fluctuating trends over the past five years. As of December 31, 2023, the quick ratio stands at 1.32, indicating the company's ability to meet its short-term obligations with its most liquid assets. This signifies an improvement from the previous year's quick ratio of 0.79, reflecting a stronger liquidity position.
Comparing it to the ratios from 2021, 2020, and 2019, we observe a mixed performance. The quick ratio was 0.87 in 2021, 0.68 in 2020, and 0.74 in 2019. These values suggest varying levels of liquidity over the years, with fluctuations in the company's ability to cover its short-term liabilities with its quick assets.
Overall, the significant improvement in the quick ratio from 2022 to 2023 indicates enhanced liquidity and stronger financial position for Radnet Inc. This suggests that the company may be better positioned to meet its immediate financial obligations using its readily available assets.
Peer comparison
Dec 31, 2023