Repligen Corporation (RGEN)

Cash ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash and cash equivalents	US$ in thousands	757,355	751,323	523,458	603,814	717,292
Short-term investments	US$ in thousands	26,609	0	100,299	0	—
Total current liabilities	US$ in thousands	126,787	158,162	404,196	375,262	318,956
Cash ratio		6.18	4.75	1.54	1.61	2.25

December 31, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($757,355K + $26,609K) ÷ $126,787K
= 6.18

The cash ratio of Repligen Corporation has shown fluctuating trends over the years. It stood at 2.25 on December 31, 2020, indicating that the company had $2.25 of cash and cash equivalents for every dollar of current liabilities. Subsequently, the ratio decreased to 1.61 on December 31, 2021, and further dropped to 1.54 on December 31, 2022.

However, the cash ratio saw a significant improvement in the following years, reaching 4.75 on December 31, 2023, and further increasing to 6.18 on December 31, 2024. These higher ratios suggest that Repligen Corporation had an increased ability to cover its short-term liabilities with its available cash resources in the latter years, reflecting improved liquidity position and potentially reduced financial risk.