PROCEPT BioRobotics (PROCEPT BioRobotics) Quick Ratio : 7.44 (As of Mar. 2024)

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What is PROCEPT BioRobotics Quick Ratio?

The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. PROCEPT BioRobotics's quick ratio for the quarter that ended in Mar. 2024 was 7.44.

PROCEPT BioRobotics has a quick ratio of 7.44. It generally indicates good short-term financial strength.

The historical rank and industry rank for PROCEPT BioRobotics's Quick Ratio or its related term are showing as below:

PRCT' s Quick Ratio Range Over the Past 10 Years
Min: 5.21 Med: 7.67 Max: 23.19
Current: 7.44

During the past 5 years, PROCEPT BioRobotics's highest Quick Ratio was 23.19. The lowest was 5.21. And the median was 7.67.

PRCT's Quick Ratio is ranked better than
87.07% of 866 companies
in the Medical Devices & Instruments industry
Industry Median: 2.06 vs PRCT: 7.44

PROCEPT BioRobotics Quick Ratio Historical Data

The historical data trend for PROCEPT BioRobotics's Quick Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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PROCEPT BioRobotics Quick Ratio Chart

PROCEPT BioRobotics Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Quick Ratio

6.49

7.08

19.27

6.92

6.77

PROCEPT BioRobotics Quarterly Data
	Dec19	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Quick Ratio	Get a 7-Day Free Trial												6.36	5.21	7.89	6.77	7.44

Competitive Comparison of PROCEPT BioRobotics's Quick Ratio

For the Medical Devices subindustry, PROCEPT BioRobotics's Quick Ratio, along with its competitors' market caps and Quick Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

PROCEPT BioRobotics's Quick Ratio Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, PROCEPT BioRobotics's Quick Ratio distribution charts can be found below:

* The bar in red indicates where PROCEPT BioRobotics's Quick Ratio falls into.

PROCEPT BioRobotics Quick Ratio Calculation

The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.

PROCEPT BioRobotics's Quick Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Quick Ratio (A: Dec. 2023 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(350.567	-	39.756)	/	45.927
	=	6.77

PROCEPT BioRobotics's Quick Ratio for the quarter that ended in Mar. 2024 is calculated as

Quick Ratio (Q: Mar. 2024 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(329.186	-	41.622)	/	38.65
	=	7.44

PROCEPT BioRobotics (NAS:PRCT) Quick Ratio Explanation

The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.

In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.

The higher the quick ratio, the better the company's liquidity position.

PROCEPT BioRobotics Quick Ratio Related Terms

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PROCEPT BioRobotics (PROCEPT BioRobotics) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » PROCEPT BioRobotics Corp (NAS:PRCT) » Definitions » Quick Ratio

Comparable Companies

Traded in Other Exchanges

N/A

Address

900 Island Drive, Redwood, CA, USA, 94065

Website

https://www.procept-biorobotics.com

PROCEPT BioRobotics Corp is a surgical robotics company focused on advancing patient care by developing transformative solutions in urology. It develops, manufactures, and sells the AquaBeam Robotic System, an advanced, image-guided, surgical robotic system for use in minimally invasive urologic surgery, with an initial focus on treating benign prostatic hyperplasia, or BPH. The company's assets are based in the United States. Its revenue is generated from sales of the AquaBeam Robotic System and the accompanying single-use disposable handpieces.

Executives

Alaleh Nouri	officer: SVP, GEN COUNSEL, CORP. SEC.	1310 CHESAPEAKE TERRACE, SUNNYVALE CA 94089
Kevin Waters	officer: Senior VP, CFO	1310 CHESAPEAKE TERRACE, SUNNYVALE CA 94089
Frederic H Moll	director	C/O INTUITIVE SURGICAL INC, 950 KIFER ROAD, SUNNYVALE CA 94086
Wood Morgan Colby	director	C/O PROCEPT BIOROBOTICS CORPORATION, 900 ISLAND DRIVE, REDWOOD CA 94065
Reza Zadno	director, officer: President, CEO	2710 SAND HILL ROAD, SUITE 200, MENLO PARK CA 94025
Hisham Shiblaq	officer: SVP, Commercial Operations	C/O PROCEPT BIOROBOTICS CORPORATION, 900 ISLAND DRIVE, REDWOOD CITY CA 94065
Thomas M Krummel	director	C/O CALIFORNIA WATER SERVICE GROUP, 1720 N. FIRST STREET, SAN JOSE CA 95118
Viking Global Investors Lp	10 percent owner	600 WASHINGTON BLVD., FLOOR 11, STAMFORD CT 06901
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