What is Axogen's cash ratio?

Axogen (AXGN) reported cash ratio of 3.3× in Q1 2026.

How has Axogen's cash ratio changed year-over-year?

Axogen's cash ratio increased by 193.7% year-over-year, from 1.1× to 3.3×.

What is the long-term trend for Axogen's cash ratio?

Over 5 years (2020 to 2025), Axogen's cash ratio has grown at a -7.2% compound annual growth rate (CAGR), from 2.4× to 1.7×.

What does cash ratio mean?

Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.

Axogen AXGN Cash ratio

Cash ratio at other companies

Baxter InternationalBAX

0.5×-0.1×

StrykerSYK

0.5×+0.2×

IAR

Integra LifeSciencesIART

0.7×+0.4×

LeMaitre VascularLMAT

0.8×-0.2×

MedtronicMDT

0.2×0.0×

Other financials

Income statement

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Revenue$61.5M+26.6%

Gross profit$46.2M+32.2%

Operating income-$2.8M-70.5%

Net income-$19.6M-411%

EPS (diluted)-$0.38-375%

Balance sheet

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Cash & equivalents$84.7M+251%

Total debt$20.6M-69.8%

Total equity$244.8M+132%

Total assets$289.5M+47.6%

Cash flow

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Operating cash flow$1.6M+112%

CapEx$2.8M+989%

Free cash flow-$1.2M+90.9%

Valuation

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Market cap$2.26B+110%

Profitability

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Gross margin75%+0.8pp

Operating margin-3.8%—

Net margin-13.2%-22.8pp

FCF margin-12.9%-3.8pp

Returns & leverage

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Return on equity-18%-70.5pp

Debt / equity0.1×-0.6×

Current ratio7.1×+2.8×

Where this comes from

Calculated from Axogen’s reported figures.

cash and equivalents/total current liabilities=3.3×

Based on the most recent quarter.

The official record: Axogen’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Axogen's cash ratio?: Axogen (AXGN) reported cash ratio of 3.3× in Q1 2026.
How has Axogen's cash ratio changed year-over-year?: Axogen's cash ratio increased by 193.7% year-over-year, from 1.1× to 3.3×.
What is the long-term trend for Axogen's cash ratio?: Over 5 years (2020 to 2025), Axogen's cash ratio has grown at a -7.2% compound annual growth rate (CAGR), from 2.4× to 1.7×.
What does cash ratio mean?: Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.