Xencor Inc (XNCR)

Cash 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 and cash equivalents	US$ in thousands	53,790	52,733	34,710	72,394	53,942	52,654	49,410	78,267	143,480	41,200	115,842	176,965	163,544	58,094	109,534	73,808	50,312	51,189	32,557	21,858
Short-term investments	US$ in thousands	539,935	441,799	516,662	515,628	569,120	547,582	462,508	311,488	190,627	247,001	334,206	375,014	439,459	493,070	476,725	500,094	479,470	495,292	472,613	318,498
Total current liabilities	US$ in thousands	84,709	53,041	44,630	65,056	63,844	90,032	75,041	60,941	70,738	44,317	45,962	99,931	121,061	70,488	66,449	65,917	66,558	64,312	63,712	73,321
Cash ratio		7.01	9.32	12.35	9.04	9.76	6.67	6.82	6.40	4.72	6.50	9.79	5.52	4.98	7.82	8.82	8.71	7.96	8.50	7.93	4.64

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($53,790K + $539,935K) ÷ $84,709K
= 7.01

The cash ratio of Xencor Inc has fluctuated over the past eight quarters. The ratio measures the company's ability to cover its short-term liabilities using only its cash and cash equivalents.

In Q2 2023, Xencor Inc had a relatively high cash ratio of 12.85, indicating a strong ability to meet its short-term obligations with cash on hand. This was an improvement compared to the previous quarter where the ratio was 9.73.

The trend in the cash ratio shows some variability over the quarters, with values ranging from 6.86 to 12.85. Overall, the company seems to maintain a healthy cash position relative to its short-term liabilities, as the lowest cash ratio observed was 6.86 in Q1 2022, which is still considered a reasonable level.

It is essential for Xencor Inc to monitor its cash ratio closely to ensure it maintains sufficient liquidity to meet its short-term obligations and unexpected expenses. The company may need to consider factors such as cash management, working capital efficiency, and investment decisions to sustain or improve its cash position in the future.