New Horizon Health has a quick ratio of 10.50. It generally indicates good short-term financial strength.
The historical rank and industry rank for New Horizon Health's Quick Ratio or its related term are showing as below:
HKSE:06606'
s Quick Ratio Range Over the Past 10 Years
Min: 0.88 Med: 8.69 Max: 28.82
Current: 10.5
During the past 5 years, New Horizon Health's highest Quick Ratio was 28.82. The lowest was 0.88. And the median was 8.69.
HKSE:06606's Quick Ratio is not ranked
in the Medical Devices & Instruments industry.
Industry Median: 2.015
vs HKSE:06606: 10.50
New Horizon Health Quick Ratio Historical Data
The historical data trend for New Horizon Health'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 New Horizon Health's Quick Ratio
For the Medical Devices subindustry, New Horizon Health'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.
New Horizon Health's Quick Ratio Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, New Horizon Health's Quick Ratio distribution charts can be found below:
* The bar in red indicates where New Horizon Health's Quick Ratio falls into.
New Horizon Health 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.
New Horizon Health's Quick Ratio for the fiscal year that ended in Dec. 2022 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.
New Horizon Health (HKSE:06606) 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.
New Horizon Health Quick Ratio Related Terms
Thank you for viewing the detailed overview of New Horizon Health's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
New Horizon Health (HKSE:06606) Business Description
New Horizon Health Ltd is engaged in early cancer screening and in-home testing in China. The company has an early detection and cancer screening-focused pipeline of five products and product candidates with an emphasis on colorectal cancer screening. The company focuses on cancer prevention and cure through screening and early detection. It generates maximum revenue from ColoClear and Pupu Tube products.
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