Stryker Corporation (SYK)
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 | 2,971,000 | 1,860,000 | 1,401,000 | 1,671,000 | 1,844,000 | 1,420,000 | 1,044,000 | 1,458,000 | 2,944,000 | 2,563,000 | 2,241,000 | 2,238,000 | 2,943,000 | 7,083,000 | 6,539,000 | 3,964,000 | 4,337,000 | 1,948,000 | 1,754,000 | 1,674,000 |
| Short-term investments | US$ in thousands | 82,000 | 76,000 | 77,000 | 86,000 | 84,000 | 77,000 | 83,000 | 72,000 | 75,000 | 76,000 | 84,000 | 74,000 | 81,000 | 78,000 | 80,000 | 84,000 | 88,000 | 88,000 | 85,000 | 84,000 |
| Receivables | US$ in thousands | 3,765,000 | 3,276,000 | 3,261,000 | 3,215,000 | 3,565,000 | 3,103,000 | 3,145,000 | 2,991,000 | 3,022,000 | 2,817,000 | 2,714,000 | 2,616,000 | 2,701,000 | 2,426,000 | 2,203,000 | 2,646,000 | 2,893,000 | 2,438,000 | 2,408,000 | 2,284,000 |
| Total current liabilities | US$ in thousands | 7,921,000 | 7,458,000 | 6,584,000 | 5,866,000 | 6,303,000 | 4,571,000 | 4,404,000 | 4,408,000 | 4,549,000 | 4,449,000 | 4,252,000 | 3,953,000 | 5,041,000 | 4,689,000 | 4,405,000 | 4,162,000 | 4,400,000 | 3,921,000 | 3,946,000 | 3,713,000 |
| Quick ratio | 0.86 | 0.70 | 0.72 | 0.85 | 0.87 | 1.01 | 0.97 | 1.03 | 1.33 | 1.23 | 1.19 | 1.25 | 1.14 | 2.04 | 2.00 | 1.61 | 1.66 | 1.14 | 1.08 | 1.09 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($2,971,000K
+ $82,000K
+ $3,765,000K)
÷ $7,921,000K
= 0.86
The quick ratio of Stryker Corp. has been fluctuating over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1.0 indicates that the company may have difficulty meeting its short-term liabilities.
In the most recent quarter, Q4 2023, the quick ratio was 0.97, showing a slight decrease from the previous quarter. This implies that Stryker Corp. may have had slightly fewer liquid assets relative to its current liabilities in Q4 2023.
Looking back further, in Q3 2022, the quick ratio was at its highest at 1.19, indicating that Stryker Corp. had more than enough liquid assets to cover its short-term liabilities during that period.
Overall, the trend in Stryker Corp.'s quick ratio over the past eight quarters suggests some variability but generally indicates that the company has maintained a relatively healthy liquidity position, although there have been quarters where the ratio dipped below 1.0, which may warrant further investigation into the company's short-term liquidity management.
Peer comparison
Dec 31, 2023