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CODX (Co-Diagnostics) Current Ratio : 6.92 (As of Sep. 2024)


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What is Co-Diagnostics Current Ratio?

The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated as a company's Total Current Assets divides by its Total Current Liabilities. Co-Diagnostics's current ratio for the quarter that ended in Sep. 2024 was 6.92.

Co-Diagnostics has a current ratio of 6.92. It indicates the company may not be efficiently using its current assets or its short-term financing facilities. This may also indicate problems in working capital management.

The historical rank and industry rank for Co-Diagnostics's Current Ratio or its related term are showing as below:

CODX' s Current Ratio Range Over the Past 10 Years
Min: 0.07   Med: 10.81   Max: 28.64
Current: 6.92

During the past 9 years, Co-Diagnostics's highest Current Ratio was 28.64. The lowest was 0.07. And the median was 10.81.

CODX's Current Ratio is ranked better than
83.66% of 869 companies
in the Medical Devices & Instruments industry
Industry Median: 2.6 vs CODX: 6.92

Co-Diagnostics Current Ratio Historical Data

The historical data trend for Co-Diagnostics's Current 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.

* Premium members only.

Co-Diagnostics Current Ratio Chart

Co-Diagnostics Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Current Ratio
Get a 7-Day Free Trial Premium Member Only 4.83 16.69 9.14 23.94 10.81

Co-Diagnostics Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Current Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 13.99 10.81 10.19 9.09 6.92

Competitive Comparison of Co-Diagnostics's Current Ratio

For the Medical Devices subindustry, Co-Diagnostics's Current Ratio, along with its competitors' market caps and Current 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.


Co-Diagnostics's Current Ratio Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Co-Diagnostics's Current Ratio distribution charts can be found below:

* The bar in red indicates where Co-Diagnostics's Current Ratio falls into.



Co-Diagnostics Current Ratio Calculation

The current ratio is mainly used to give an idea of the company's ability to pay back its short-term liabilities with its short-term assets.

Co-Diagnostics's Current Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Current Ratio (A: Dec. 2023 )=Total Current Assets (A: Dec. 2023 )/Total Current Liabilities (A: Dec. 2023 )
=62.141/5.748
=10.81

Co-Diagnostics's Current Ratio for the quarter that ended in Sep. 2024 is calculated as

Current Ratio (Q: Sep. 2024 )=Total Current Assets (Q: Sep. 2024 )/Total Current Liabilities (Q: Sep. 2024 )
=40.103/5.798
=6.92

* 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.


Co-Diagnostics  (NAS:CODX) Current Ratio Explanation

The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations. Because business operations differ in each industry, it is always more useful to compare companies within the same industry.

Acceptable current ratios vary from industry to industry and are generally between 1 and 3 for healthy businesses.

The higher the current ratio, the more capable the company is of paying its obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point. While this shows the company is not in good financial health, it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign.

If all other things were equal, a creditor, who is expecting to be paid in the next 12 months, would consider a high current ratio to be better than a low current ratio, because a high current ratio means that the company is more likely to meet its liabilities which fall due in the next 12 months.


Co-Diagnostics Current Ratio Related Terms

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Co-Diagnostics Business Description

Traded in Other Exchanges
Address
2401 South Foothill Drive, Salt Lake City, UT, USA, 84109
Co-Diagnostics Inc is a molecular diagnostics company. It develops, licenses, and commercializes molecular technologies such as lab systems (MDx device) and manufacture and sell reagents used for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). CDI's low-cost system uses its tests to diagnose tuberculosis, Zika, hepatitis B and C, Malaria, dengue and HIV.The Company's technologies are utilized for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). The Company also uses its proprietary technology to design specific tests for its Co-Dx PCR platform and to locate genetic markers for use in applications other than infectious diseases.
Executives
Brian Lee Brown officer: Chief Financial Officer 5322 W. BRIAR PARK ROAD, HERRIMAN UT 84096
Ted Murphy director 64 INDUSTRIAL RD., RICHMOND HILL A6 L4C2Y1
Eugene Durenard director 2401 S. FOOTHILL DRIVE SUITE D, SALT LAKE CITY UT 84109
Dwight H Egan director, officer: CEO and President 4049 S. HIGHLAND DRIVE, SALT LAKE CITY UT 84124
Richard S Serbin director 750 LEXINGTON AVENUE, 6TH FLOOR, NEW YORK NY 10022
James B Nelson director 26 WEST MISSION AVENUE, SUITE 8, SANTA BARBARA CA 93010
Reed L Benson officer: CFO and Secretary 7050 UNION PARK CENTER, #600, SALT LAKE CITY UT 84047
Edward L. Murphy director 2401 S. FOOTHILL DRIVE SUITE D, SALT LAKE CITY UT 84109
Brent Satterfield director, officer: Chief Science Officer 4049 S. HIGHLAND DRIVE, SALT LAKE CITY UT 84124
America 2030 Capital, Llc 10 percent owner 1301 SHILOH RD., NW, SUITE 1231, KENNESAW GA 30144
Edward Borkowski director 1500 CORPORATE DRIVE, SUITE 400, CANONSBURG PA 15317
Frank J Kiesner director 4049 S. HIGHLAND DRIVE, SALT LAKE CITY UT 84124
Reagents, Llc 10 percent owner 8160 S. HIGHLAND DR, SANDY UT 84093
Legends Capital Group, Llc 10 percent owner 4049 S. HIGHLAND DRIVE, SALT LAKE CITY UT 84124