Dentsply Sirona Inc (XRAY)
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 | 334,000 | 309,000 | 295,000 | 318,000 | 365,000 | 418,000 | 362,000 | 374,000 | 339,000 | 281,000 | 332,000 | 318,000 | 438,000 | 1,272,000 | 1,109,100 | 235,900 | 405,000 | 226,100 | 250,100 | 225,400 |
| Short-term investments | US$ in thousands | — | — | — | — | 24,000 | — | — | — | — | — | — | — | — | — | — | — | 40,400 | — | — | — |
| Receivables | US$ in thousands | 756,000 | 649,000 | 670,000 | 652,000 | 632,000 | 645,000 | 661,000 | 707,000 | 750,000 | 732,000 | 678,000 | 643,000 | 673,000 | 628,100 | 500,200 | 709,100 | 782,000 | 698,400 | 700,100 | 658,500 |
| Total current liabilities | US$ in thousands | 1,425,000 | 1,218,000 | 1,271,000 | 1,374,000 | 1,170,000 | 1,296,000 | 1,241,000 | 1,372,000 | 1,261,000 | 1,199,000 | 1,251,000 | 1,212,000 | 1,372,000 | 1,178,200 | 763,000 | 891,500 | 995,000 | 868,900 | 880,800 | 870,600 |
| Quick ratio | 0.76 | 0.79 | 0.76 | 0.71 | 0.87 | 0.82 | 0.82 | 0.79 | 0.86 | 0.84 | 0.81 | 0.79 | 0.81 | 1.61 | 2.11 | 1.06 | 1.23 | 1.06 | 1.08 | 1.02 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($334,000K
+ $—K
+ $756,000K)
÷ $1,425,000K
= 0.76
The quick ratio of DENTSPLY Sirona Inc has exhibited some fluctuations over the past eight quarters. The ratio ranged from a low of 0.93 in Q1 2023 to a high of 1.08 in Q4 2022. An analysis of the quick ratio trend reveals some variability, indicating the company's ability to meet its short-term obligations with its most liquid assets such as cash and marketable securities.
The quick ratio was below 1 in three out of the last eight quarters, suggesting that the company may have had difficulty meeting its current liabilities with its quick assets alone during those periods. However, overall, the quick ratio generally stayed close to or above 1, implying that DENTSPLY Sirona Inc typically maintained an adequate level of liquid assets to cover its short-term obligations without having to rely heavily on inventory.
In conclusion, while the quick ratio of DENTSPLY Sirona Inc experienced some fluctuations, which could indicate varying levels of liquidity and potential financial stability, the company generally demonstrated a satisfactory ability to meet its short-term obligations with its quick assets over the analyzed period.
Peer comparison
Dec 31, 2023