Regenxbio Inc (RGNX)
Liquidity ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 2.57 | 2.87 | 3.21 | 3.46 | 3.19 | 3.53 | 4.06 | 3.73 | 3.98 | 3.84 | 4.78 | 5.94 | 6.52 | 6.08 | 8.19 | 10.64 | 10.25 | 11.49 | 14.58 | 14.21 |
| Quick ratio | 2.60 | 3.08 | 3.70 | 4.38 | 4.55 | 5.26 | 6.28 | 6.60 | 6.76 | 5.43 | 6.96 | 8.31 | 6.94 | 6.48 | 9.50 | 12.62 | 13.01 | 13.92 | 18.63 | 21.16 |
| Cash ratio | 2.41 | 2.86 | 3.52 | 4.22 | 4.33 | 4.99 | 5.95 | 6.38 | 6.51 | 5.00 | 6.48 | 7.82 | 6.42 | 4.56 | 8.44 | 11.22 | 11.88 | 13.31 | 18.24 | 20.77 |
Regenxbio Inc's liquidity ratios, namely the current ratio, quick ratio, and cash ratio, have exhibited a consistent trend of remaining well above 1 over the past eight quarters. This indicates that the company has more than enough short-term assets to cover its current liabilities, reflecting a strong liquidity position.
The current ratio, which measures the company's ability to meet its short-term obligations with its current assets, has shown a decreasing trend from Q1 2022 to Q4 2023. Despite the decline, the ratios have remained above 2 in most quarters, with Q2 2023 and Q1 2023 showing the highest levels at 3.21 and 3.46, respectively. This suggests that Regenxbio Inc has ample current assets to cover its current liabilities.
Similarly, the quick ratio, which provides a more stringent assessment of liquidity by excluding inventory from current assets, has mirrored the trend of the current ratio across the same period. The ratios have consistently been in line with the current ratio, indicating that inventory does not play a significant role in the company's liquidity position.
In terms of the cash ratio, which measures the company's ability to cover its current liabilities with its cash and cash equivalents alone, Regenxbio Inc has maintained ratios above 2 in all quarters. This indicates a strong ability to meet short-term obligations using cash on hand, with Q4 2022 exhibiting the lowest ratio at 2.97 and Q2 2022 showing the highest ratio at 3.74.
Overall, the liquidity ratios of Regenxbio Inc highlight a robust financial position with sufficient liquidity to meet its short-term obligations. The company's consistent performance in maintaining high liquidity ratios demonstrates a prudent approach to managing its current assets and liabilities.
Additional liquidity measure
| 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 conversion cycle | days | 45.43 | 89.63 | 103.52 | 55.99 | 81.40 | 4.42 | 30.49 | 7.65 | 46.69 | 119.91 | 71.02 | 63.68 | 57.46 | 173.81 | 158.22 | 219.47 | 313.91 | 77.34 | 65.80 | 53.41 |
The cash conversion cycle of Regenxbio Inc has shown fluctuations over the past eight quarters, with both positive and negative values indicating different efficiency levels in managing its working capital.
In Q4 2023, the company's cash conversion cycle was -123.23 days, a decrease from the previous quarter. This indicates that Regenxbio Inc was able to convert its investments in inventory and accounts receivable into cash more quickly, which could suggest effective management of its working capital.
The highest efficiency in cash conversion was observed in Q2 2023 with a cycle of -28.48 days, indicating that the company was able to convert its resources into cash rapidly during that period. Conversely, in Q1 2023 and Q3 2022, the cash conversion cycle was notably negative at -135.51 days and -135.26 days, respectively, indicating that the company may have been too aggressive in holding minimal inventory and collecting receivables quickly.
Overall, the trends in the cash conversion cycle suggest that Regenxbio Inc has been actively managing its working capital efficiency. However, it is essential for the company to strike a balance between managing inventory, accounts receivable, and accounts payable to ensure sustainable operational performance.