RadNet Inc (RDNT)
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 | 342,570 | 337,884 | 356,651 | 90,844 | 127,834 | 95,006 | 99,170 | 70,713 | 134,606 | 151,253 | 140,852 | 31,091 | 102,018 | 89,739 | 84,583 | 94,282 | 40,165 | 37,688 | 30,504 | 10,428 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | 41,375 | 36,813 | 34,528 | 0 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 163,707 | 167,736 | 174,481 | 196,741 | 185,328 | 176,155 | 170,815 | 165,508 | 140,446 | 158,689 | 163,618 | 154,186 | 135,421 | 137,835 | 127,217 | 145,477 | 156,005 | 152,133 | 159,972 | 157,386 |
| Total current liabilities | US$ in thousands | 437,452 | 407,077 | 434,234 | 407,143 | 466,723 | 409,223 | 404,518 | 381,298 | 374,784 | 371,495 | 381,267 | 402,617 | 398,114 | 373,787 | 382,393 | 327,991 | 327,428 | 309,516 | 293,249 | 300,586 |
| Quick ratio | 1.16 | 1.24 | 1.22 | 0.71 | 0.67 | 0.66 | 0.67 | 0.62 | 0.73 | 0.83 | 0.91 | 0.55 | 0.68 | 0.61 | 0.55 | 0.73 | 0.60 | 0.61 | 0.65 | 0.56 |
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 exhibited fluctuations over the past eight quarters. In Q4 2023, the quick ratio stood at 1.32, showing a slight decrease compared to the previous quarter's ratio of 1.42 in Q3 2023. Despite this decrease, the ratio remains above 1, indicating that the company's current assets excluding inventory are sufficient to cover its current liabilities.
Looking at the trend over the past year, the quick ratio has generally shown improvement since Q1 2023 when it was at a relatively low 0.84. This suggests that Radnet Inc has enhanced its liquidity position and ability to meet short-term obligations more effectively.
Comparing the most recent quick ratio to the same quarter in the previous year, there has been significant progress, with the ratio increasing from 0.79 in Q4 2022 to 1.32 in Q4 2023. This substantial improvement reflects positively on the company's liquidity management and financial stability.
Overall, despite some fluctuations, the trend in Radnet Inc's quick ratio indicates an improving liquidity position and suggests that the company is better positioned to meet its short-term financial obligations.
Peer comparison
Dec 31, 2023