The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. Genesis Metals's quick ratio for the quarter that ended in Dec. 2021 was 7.20.
Genesis Metals has a quick ratio of 7.20. It generally indicates good short-term financial strength.
The historical rank and industry rank for Genesis Metals's Quick Ratio or its related term are showing as below:
GGISF'
s Quick Ratio Range Over the Past 10 Years
Min: 0.03 Med: 2.54 Max: 18.93
Current: 7.2
During the past 11 years, Genesis Metals's highest Quick Ratio was 18.93. The lowest was 0.03. And the median was 2.54.
GGISF's Quick Ratio is not ranked
in the Metals & Mining industry.
Industry Median: 1.69
vs GGISF: 7.20
Genesis Metals Quick Ratio Historical Data
The historical data trend for Genesis Metals's Quick 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.
Competitive Comparison of Genesis Metals's Quick Ratio
For the Gold subindustry, Genesis Metals's Quick Ratio, along with its competitors' market caps and Quick 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.
Genesis Metals's Quick Ratio Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Genesis Metals's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Genesis Metals's Quick Ratio falls into.
Genesis Metals Quick Ratio Calculation
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.
Genesis Metals's Quick Ratio for the fiscal year that ended in Mar. 2021 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.
Genesis Metals (OTCPK:GGISF) Quick Ratio Explanation
The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.
In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.
The higher the quick ratio, the better the company's liquidity position.
Genesis Metals Quick Ratio Related Terms
Thank you for viewing the detailed overview of Genesis Metals's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Genesis Metals (Genesis Metals) Business Description
Genesis Metals Corp is engaged in the acquisition and exploration of mineral property interests in Canada. The company is focused on the Chevrier Gold Project in the southwest of Chibougamau, Quebec. The Chevrier Gold Property covers 15 kilometers of the Fancamp Deformation zone - an emerging mineralized belt undergoing intensive exploration by multiple companies including several industry players, including the high-grade Monster Lake Gold Discovery which is being explored by Toma Gold and IAMGOLD. Genesis Metals holds a 100% interest in the October Gold Property located in the Southern Swayze greenstone belt in Benton Township, Ontario.
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