Current Ratio
since 2005
Calculation
Express Scripts Holding Co., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2017 | 0.67 | = | 11,957,100) | ÷ | 17,846,400) |
| Dec 31, 2016 | 0.75 | = | 12,363,400) | ÷ | 16,428,100) |
| Dec 31, 2015 | 0.70 | = | 12,059,500) | ÷ | 17,155,300) |
| Dec 31, 2014 | 0.62 | = | 10,568,100) | ÷ | 17,016,900) |
| Dec 31, 2013 | 0.64 | = | 8,491,400) | ÷ | 13,235,300) |
| Dec 31, 2012 | 0.82 | = | 10,756,900) | ÷ | 13,057,400) |
| Dec 31, 2011 | 1.48 | = | 8,058,000) | ÷ | 5,458,100) |
| Dec 31, 2010 | 0.75 | = | 2,941,300) | ÷ | 3,917,200) |
| Dec 31, 2009 | 0.76 | = | 4,143,500) | ÷ | 5,456,800) |
| Dec 31, 2008 | 0.75 | = | 2,043,800) | ÷ | 2,721,700) |
| Dec 31, 2007 | 0.80 | = | 1,967,800) | ÷ | 2,475,000) |
| Dec 31, 2006 | 0.73 | = | 1,772,100) | ÷ | 2,429,400) |
| Dec 31, 2005 | 0.94 | = | 2,257,000) | ÷ | 2,394,000) |
Based on: 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 thousands
- Current Assets
- The current assets exhibited fluctuations over the analyzed period. Beginning at 2,257,000 thousand US dollars in 2005, they experienced a decline reaching a low point near 1,772,100 thousand in 2006. Subsequently, the value trended upward with notable growth between 2008 and 2012, peaking at approximately 10,756,900 thousand US dollars in 2012. After this peak, current assets somewhat stabilized, fluctuating around 11,000,000 to 12,000,000 thousand US dollars until 2017, ending at 11,957,100 thousand.
- Current Liabilities
- Current liabilities showed a general upward trajectory through the period. Starting at 2,394,000 thousand US dollars in 2005, liabilities increased steadily, with a particularly sharp rise observed from 2011 to 2014. The liabilities peaked at 17,016,900 thousand in 2014, maintaining relatively high levels through 2017, ending at 17,846,400 thousand US dollars. This reflects an increasing short-term obligation load on the company over the years.
- Current Ratio
- The current ratio, measuring the company's short-term liquidity, demonstrated considerable variability and generally remained below 1 for most years, indicating potential liquidity constraints. The ratio began at 0.94 in 2005, dropped to its lowest point around 0.62 in 2014, before showing a moderate recovery to 0.75 in 2016 and then falling slightly to 0.67 in 2017. Notably, 2011 reflected an anomalous increase to 1.48, which contrasts with the mostly sub-1 values over the remainder of the period. This suggests that except for 2011, the company consistently held less current assets relative to its current liabilities, thus facing potential challenges in meeting short-term obligations with current assets.
- Overall Trends and Insights
- The data indicate that while both current assets and current liabilities have grown significantly over the analyzed period, liabilities have increased at a faster pace, especially post-2010. This disparity contributed to consistently low current ratios, implying heightened liquidity risk. The spike in the current ratio in 2011 suggests an isolated event or financial adjustment that temporarily improved liquidity. However, sustaining a current ratio below 1 in most years points to a reliance on non-current assets or external financing to fulfill short-term liabilities. The company’s financial structure over these years reveals a potential focus on expanding operations, financed increasingly through short-term liabilities, which could pose financial management challenges if not carefully controlled.
Comparison to Competitors
Express Scripts Holding Co., current ratio, long-term trends, comparison to competitors
| Express Scripts Holding Co. | Abbott Laboratories | CVS Health Corp. | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2017 | 0.67 | 2.26 | 1.02 | 1.55 | 3.99 | 1.75 | 0.73 |
| Dec 31, 2016 | 0.75 | 4.02 | 1.18 | 1.61 | 5.45 | 3.29 | 0.69 |
| Dec 31, 2015 | 0.70 | 1.54 | 1.31 | 1.62 | 4.46 | 3.36 | 0.74 |
| Dec 31, 2014 | 0.62 | 1.45 | 1.37 | 1.72 | 3.69 | 3.82 | 0.77 |
| Dec 31, 2013 | 0.64 | 2.02 | 1.64 | 1.82 | 5.07 | 4.57 | 0.73 |
| Dec 31, 2012 | 0.82 | 2.36 | 1.44 | 1.78 | 4.71 | 1.62 | 0.78 |
| Dec 31, 2011 | 1.48 | 1.54 | 1.56 | 1.71 | 4.57 | 1.93 | 0.85 |
| Dec 31, 2010 | 0.75 | 1.29 | 1.60 | 1.87 | 4.66 | 1.92 | 0.78 |
| Dec 31, 2009 | 0.76 | 1.79 | 1.43 | 1.91 | 4.18 | 2.37 | 0.82 |
| Dec 31, 2008 | 0.75 | 1.47 | 1.23 | 0.81 | 4.28 | 2.07 | 0.76 |
| Dec 31, 2007 | 0.80 | 1.54 | 1.31 | 0.91 | 4.63 | 3.09 | 0.84 |
| Dec 31, 2006 | 0.73 | 0.94 | 1.48 | 0.77 | 4.64 | 2.36 | 0.87 |
| Dec 31, 2005 | 0.94 | 1.54 | 1.83 | 1.75 | 3.60 | 2.20 | 0.64 |
Based on: 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 (Health Care Equipment & Services)
Express Scripts Holding Co., current ratio, long-term trends, comparison to sector (health care equipment & services)
| Express Scripts Holding Co. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2017 | 0.67 | 1.19 |
| Dec 31, 2016 | 0.75 | 1.37 |
| Dec 31, 2015 | 0.70 | 1.35 |
| Dec 31, 2014 | 0.62 | 1.41 |
| Dec 31, 2013 | 0.64 | 1.56 |
| Dec 31, 2012 | 0.82 | 1.47 |
| Dec 31, 2011 | 1.48 | 1.39 |
| Dec 31, 2010 | 0.75 | 1.34 |
| Dec 31, 2009 | 0.76 | 1.46 |
| Dec 31, 2008 | 0.75 | 1.08 |
| Dec 31, 2007 | 0.80 | 1.18 |
| Dec 31, 2006 | 0.73 | 1.05 |
| Dec 31, 2005 | 0.94 | 1.36 |
Based on: 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)
Express Scripts Holding Co., current ratio, long-term trends, comparison to industry (health care)
| Express Scripts Holding Co. | Health Care | |
|---|---|---|
| Dec 31, 2017 | 0.67 | 1.49 |
| Dec 31, 2016 | 0.75 | 1.67 |
| Dec 31, 2015 | 0.70 | 1.66 |
| Dec 31, 2014 | 0.62 | 1.87 |
| Dec 31, 2013 | 0.64 | 1.93 |
| Dec 31, 2012 | 0.82 | 1.81 |
| Dec 31, 2011 | 1.48 | 1.92 |
| Dec 31, 2010 | 0.75 | 1.80 |
| Dec 31, 2009 | 0.76 | 1.75 |
| Dec 31, 2008 | 0.75 | 1.42 |
| Dec 31, 2007 | 0.80 | 1.51 |
| Dec 31, 2006 | 0.73 | 1.39 |
| Dec 31, 2005 | 0.94 | 1.64 |
Based on: 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).