Xencor Inc (XNCR)

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	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
Receivables	US$ in thousands	13,590	55,000	20,019	19,861	30,297	44,876	54,284	88,204	67,184	20,545	14,825	12,525	12,843	9,534	9,729	7,729	22,076	4,751	10,532	138,882
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
Quick ratio		7.17	10.36	12.80	9.34	10.23	7.17	7.55	7.84	5.67	6.97	10.11	5.65	5.09	7.95	8.97	8.82	8.29	8.57	8.09	6.54

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($53,790K + $539,935K + $13,590K) ÷ $84,709K
= 7.17

The quick ratio of Xencor Inc has been fluctuating over the past eight quarters, ranging from a low of 7.36 to a high of 13.30. The quick ratio measures a company's ability to meet short-term liabilities with its most liquid assets. A quick ratio above 1 indicates that a company has enough liquid assets to cover its short-term obligations without having to sell fixed assets or obtain additional financing.

Xencor Inc's quick ratio has generally been strong, consistently above 1 for each quarter in the provided data. The company's quick ratio peaked in Q2 2023 at 13.30, signaling a significant increase in its ability to cover short-term liabilities with highly liquid assets. However, the ratio decreased in the subsequent quarters but remained well above 1, indicating continued robust liquidity.

Overall, Xencor Inc's quick ratio indicates a healthy liquidity position, suggesting the company has sufficient liquid assets to meet its short-term obligations comfortably. Investors and creditors typically view a high quick ratio positively as it implies strong financial health and operational efficiency in managing short-term liquidity needs.