China Resources Gas Group has a Cash Ratio of 0.20. It indicates that there are more current liabilities than Cash, Cash Equivalents, Marketable Securities, and the company does not have sufficient cash on hand to pay off its short-term debt.
The historical rank and industry rank for China Resources Gas Group's Cash Ratio or its related term are showing as below:
CRGGF'
s Cash Ratio Range Over the Past 10 Years
Min: 0.14 Med: 0.31 Max: 0.42
Current: 0.2
During the past 13 years, China Resources Gas Group's highest Cash Ratio was 0.42. The lowest was 0.14. And the median was 0.31.
CRGGF's Cash Ratio is ranked worse than 64.44% of 495
companies
in the Utilities - Regulated industry
Industry Median: 0.3
vs CRGGF: 0.20
China Resources Gas Group Cash Ratio Historical Data
* 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.
Competitive Comparison of China Resources Gas Group's Cash Ratio
For the Utilities - Regulated Gas subindustry, China Resources Gas Group's Cash Ratio, along with its competitors' market caps and Cash 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.
China Resources Gas Group's Cash Ratio Distribution in the Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, China Resources Gas Group's Cash Ratio distribution charts can be found below:
* The bar in red indicates where China Resources Gas Group's Cash Ratio falls into.
China Resources Gas Group Cash Ratio Calculation
The Cash Ratio measures a company's ability to meet its short-term obligations with its cash and near-cash resources.
China Resources Gas Group's Cash Ratio for the fiscal year that ended in Dec. 2023 is calculated as:
* 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.
China Resources Gas Group (OTCPK:CRGGF) Cash Ratio Explanation
The cash ratio is more conservative than other liquidity ratios, such as Quick Ratio and Current Ratio, because it only considers a company's most liquid resources. The numerator of cash ratio only considers Cash, Cash Equivalents and marketable securities. Other current assets, such as accounts receivable and inventories, are not included. The rationale is that these assets may require time to be transformed into cash, and the amount of money received is also uncertain.
The cash ratio shows a company’s ability to pay all current liabilities immediately without selling or liquidating other assets. Generally speaking, a higher cash ratio suggests the company has a stronger ability to cover its short-term debt. However, a high cash ratio could also indicate inefficient management: the company is inefficient in making full utilization of cash to invest protential profitable project. It may also suggest that the company is not confident about future profitability.
In general, the higher the cash ratio, the better the company's liquidity position.
China Resources Gas Group Cash Ratio Related Terms
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China Resources Gas Group (China Resources Gas Group) Business Description
China Resources Gas Group is a leading gas utilities group in China engaged in city gas distribution, including piped natural gas distribution and natural gas filling stations. At the end of 2022, CRG's portfolio comprised 273 city gas projects in China. The firm achieved annual gas sales volume of 35.9 billion cubic meters and has connected 53.9 million residential customers, or a penetration rate of 58.2%.
China Resources Gas Group (China Resources Gas Group) Headlines
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