Current Ratio
since 2005
Calculation
Celgene Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2018 | 2.23 | = | 9,067) | ÷ | 4,057) |
| Dec 31, 2017 | 4.99 | = | 14,892) | ÷ | 2,987) |
| Dec 31, 2016 | 3.67 | = | 10,868) | ÷ | 2,959) |
| Dec 31, 2015 | 4.77 | = | 9,401) | ÷ | 1,969) |
| Dec 31, 2014 | 4.60 | = | 9,713) | ÷ | 2,112) |
| Dec 31, 2013 | 3.88 | = | 7,551) | ÷ | 1,946) |
| Dec 31, 2012 | 3.27 | = | 5,534) | ÷ | 1,690) |
| Dec 31, 2011 | 2.83 | = | 4,353) | ÷ | 1,540) |
| Dec 31, 2010 | 4.06 | = | 4,343) | ÷ | 1,070) |
| Dec 31, 2009 | 7.77 | = | 3,845) | ÷ | 495) |
| Dec 31, 2008 | 5.39 | = | 2,841) | ÷ | 527) |
| Dec 31, 2007 | 7.12 | = | 3,084) | ÷ | 433) |
| Dec 31, 2006 | 9.64 | = | 2,311) | ÷ | 240) |
| Dec 31, 2005 | 7.17 | = | 973) | ÷ | 136) |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The liquidity profile of the organization exhibits a transition from a state of extreme excess liquidity toward a more moderated financial position over the observed thirteen-year period. While the company maintained a current ratio well above 1.0 throughout the timeframe, indicating a consistent ability to cover short-term obligations, there is a clear long-term downward trend in the ratio's magnitude.
- Current Assets Trend
- Current assets demonstrated substantial growth for the majority of the period, rising from 973 million US dollars in 2005 to a peak of 14,892 million US dollars in 2017. However, a significant contraction occurred in 2018, where assets decreased to 9,067 million US dollars, marking the first major decline in current asset holdings since 2008.
- Current Liabilities Trend
- Short-term obligations followed a consistent upward trajectory, increasing from 136 million US dollars in 2005 to 4,057 million US dollars by 2018. This growth was relatively steady, though a more pronounced acceleration in liabilities was observed between 2016 and 2018.
- Current Ratio Analysis
- The current ratio peaked at 9.64 in 2006, reflecting an exceptionally high level of liquidity. A period of contraction followed, with the ratio reaching a local minimum of 2.83 in 2011. A moderate recovery was observed between 2012 and 2017, during which the ratio climbed back to 4.99. This recovery was reversed in 2018, when the ratio fell to 2.23, the lowest level recorded since 2011.
The overall trajectory indicates that while current assets grew in absolute terms for over a decade, current liabilities grew at a rate that eventually compressed the liquidity margin. The sharp decline in the current ratio in 2018 is attributable to the simultaneous decrease in current assets and a continuing increase in current liabilities.
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Comparison to Competitors
Celgene Corp., current ratio, long-term trends, comparison to competitors
| Celgene Corp. | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Johnson & Johnson | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2018 | 2.23 | 0.98 | 2.79 | 1.61 | 1.47 | 1.73 | 3.38 | 1.47 | 1.17 | 1.57 | 4.47 | 1.73 | 3.43 |
| Dec 31, 2017 | 4.99 | 1.28 | 5.49 | 1.55 | 1.43 | 1.32 | 2.74 | 1.41 | 1.33 | 1.35 | 3.82 | 1.34 | 3.28 |
| Dec 31, 2016 | 3.67 | 1.65 | 4.11 | 1.55 | 0.97 | 1.37 | 2.22 | 2.47 | 1.78 | 1.25 | 2.56 | 1.44 | 2.31 |
| Dec 31, 2015 | 4.77 | 1.50 | 4.44 | 1.30 | 1.27 | 1.53 | 2.50 | 2.17 | 1.55 | 1.49 | 3.59 | 1.38 | 2.78 |
| Dec 31, 2014 | 4.60 | 1.41 | 4.95 | 1.73 | 1.75 | 1.09 | 3.07 | 2.36 | 1.77 | 2.67 | 3.31 | 1.22 | 4.20 |
| Dec 31, 2013 | 3.88 | 2.59 | 3.44 | 1.52 | 2.01 | 1.47 | 1.15 | 2.20 | 2.00 | 2.41 | 6.01 | 3.16 | 3.99 |
| Dec 31, 2012 | 3.27 | 2.27 | 3.81 | 1.15 | 1.80 | 1.55 | 1.44 | 1.90 | 1.90 | 2.15 | 7.37 | 2.31 | 3.67 |
| Dec 31, 2011 | 2.83 | — | 4.80 | 1.97 | 1.50 | 1.60 | 5.53 | 2.38 | 2.04 | 2.06 | 4.40 | 1.55 | 3.39 |
| Dec 31, 2010 | 4.06 | — | 3.52 | 1.97 | 1.73 | 2.09 | 2.32 | 2.05 | 1.86 | 2.11 | 3.28 | 2.42 | 2.23 |
| Dec 31, 2009 | 7.77 | — | 4.89 | 2.21 | 1.89 | 1.90 | 2.57 | 1.82 | 1.80 | 1.66 | 4.55 | 2.76 | 4.59 |
| Dec 31, 2008 | 5.39 | — | 3.12 | 2.20 | 1.53 | 0.95 | 3.52 | 1.65 | 1.35 | 1.59 | 6.23 | 2.82 | 4.01 |
| Dec 31, 2007 | 7.12 | — | 2.11 | 1.20 | 1.40 | 2.33 | 4.11 | 1.51 | 1.23 | 2.15 | 2.81 | 1.93 | 2.49 |
| Dec 31, 2006 | 9.64 | — | 1.67 | 1.59 | 1.38 | 1.91 | 3.18 | 1.20 | 1.20 | 2.20 | 10.44 | 1.70 | 3.07 |
| Dec 31, 2005 | 7.17 | — | 2.57 | 1.78 | 1.30 | 1.89 | 6.79 | 2.48 | 1.58 | 1.47 | 8.46 | 1.71 | 3.84 |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Celgene Corp., current ratio, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Celgene Corp. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Dec 31, 2018 | 2.23 | 1.71 |
| Dec 31, 2017 | 4.99 | 1.74 |
| Dec 31, 2016 | 3.67 | 1.91 |
| Dec 31, 2015 | 4.77 | 1.90 |
| Dec 31, 2014 | 4.60 | 2.19 |
| Dec 31, 2013 | 3.88 | 2.17 |
| Dec 31, 2012 | 3.27 | 2.04 |
| Dec 31, 2011 | 2.83 | 2.30 |
| Dec 31, 2010 | 4.06 | 2.14 |
| Dec 31, 2009 | 7.77 | 1.95 |
| Dec 31, 2008 | 5.39 | 1.66 |
| Dec 31, 2007 | 7.12 | 1.74 |
| Dec 31, 2006 | 9.64 | 1.65 |
| Dec 31, 2005 | 7.17 | 1.82 |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Celgene Corp., current ratio, long-term trends, comparison to industry (health care)
| Celgene Corp. | Health Care | |
|---|---|---|
| Dec 31, 2018 | 2.23 | 1.52 |
| Dec 31, 2017 | 4.99 | 1.55 |
| Dec 31, 2016 | 3.67 | 1.73 |
| Dec 31, 2015 | 4.77 | 1.70 |
| Dec 31, 2014 | 4.60 | 1.92 |
| Dec 31, 2013 | 3.88 | 1.96 |
| Dec 31, 2012 | 3.27 | 1.84 |
| Dec 31, 2011 | 2.83 | 1.94 |
| Dec 31, 2010 | 4.06 | 1.81 |
| Dec 31, 2009 | 7.77 | 1.78 |
| Dec 31, 2008 | 5.39 | 1.44 |
| Dec 31, 2007 | 7.12 | 1.53 |
| Dec 31, 2006 | 9.64 | 1.39 |
| Dec 31, 2005 | 7.17 | 1.63 |
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).