Current Ratio
since 2019
Paying user area
Try for free
Shockwave Medical Inc. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2019
- Analysis of Debt
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Shockwave Medical Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Calculation
Shockwave Medical Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | = | ÷ | |||
| Dec 31, 2022 | = | ÷ | |||
| Dec 31, 2021 | = | ÷ | |||
| Dec 31, 2020 | = | ÷ | |||
| Dec 31, 2019 | = | ÷ |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 US$ in thousands
- Current Assets
- The current assets exhibit a consistent upward trend over the five-year period. Starting at 216,697 thousand US dollars in 2019, the figure increased moderately to 246,300 thousand in 2020 and further to 285,902 thousand in 2021. A substantial jump occurred in 2022, with current assets rising to 459,263 thousand and a more pronounced surge in 2023, reaching 1,225,260 thousand. This growth trajectory indicates a strengthening liquidity position and possibly accumulation of cash, receivables, or inventory.
- Current Liabilities
- Current liabilities have also increased over the same period but at a much slower rate compared to current assets. Beginning at 24,008 thousand US dollars in 2019, liabilities grew slightly to 25,581 thousand in 2020, then nearly doubled to 51,628 thousand in 2021. Subsequent increases were more modest with 63,374 thousand in 2022 and 104,205 thousand in 2023. Although liabilities are rising, the pace remains controlled relative to assets.
- Current Ratio
- The current ratio, calculated as current assets divided by current liabilities, shows notable fluctuations but an overall robust liquidity profile. The ratio started very high at 9.03 in 2019, increased to 9.63 in 2020, then declined sharply to 5.54 in 2021. A recovery is evident with the ratio climbing to 7.25 in 2022 and reaching a peak of 11.76 in 2023. These values consistently exceed the conventional benchmark of 1, suggesting strong short-term financial health. The dip in 2021 could indicate a relative increase in liabilities or a slower growth in assets during that year, while the subsequent rebound points to improved asset liquidity or liability management.
- Summary
- Overall, the analysis indicates that the company has significantly improved its liquidity position over the five-year period, especially in the last two years. The sharp increases in current assets, outpacing the growth in current liabilities, have led to a strengthened current ratio, culminating in an exceptionally high ratio of 11.76 in 2023. This suggests ample short-term resources to cover obligations. The temporary dip in the current ratio during 2021 merits attention as it reflects a less favorable but still strong liquidity status. The upward trends in liquidity measures imply favorable working capital management and a potentially lower liquidity risk.
Comparison to Competitors
Shockwave Medical Inc., current ratio, long-term trends, comparison to competitors
| Shockwave Medical Inc. | Abbott Laboratories | CVS Health Corp. | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | |||||||
| Dec 31, 2022 | |||||||
| Dec 31, 2021 | |||||||
| Dec 31, 2020 | |||||||
| Dec 31, 2019 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Comparison to Sector (Health Care Equipment & Services)
Shockwave Medical Inc., current ratio, long-term trends, comparison to sector (health care equipment & services)
| Shockwave Medical Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Comparison to Industry (Health Care)
Shockwave Medical Inc., current ratio, long-term trends, comparison to industry (health care)
| Shockwave Medical Inc. | Health Care | |
|---|---|---|
| Dec 31, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).