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Orex Minerals (Orex Minerals) Quick Ratio : 0.65 (As of Jan. 2024)


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What is Orex Minerals Quick Ratio?

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. Orex Minerals's quick ratio for the quarter that ended in Jan. 2024 was 0.65.

Orex Minerals has a quick ratio of 0.65. It indicates that the company cannot currently fully pay back its current liabilities.

The historical rank and industry rank for Orex Minerals's Quick Ratio or its related term are showing as below:

ORMNF' s Quick Ratio Range Over the Past 10 Years
Min: 0.65   Med: 25.78   Max: 106.42
Current: 0.65

During the past 13 years, Orex Minerals's highest Quick Ratio was 106.42. The lowest was 0.65. And the median was 25.78.

ORMNF's Quick Ratio is ranked worse than
72.19% of 2679 companies
in the Metals & Mining industry
Industry Median: 1.75 vs ORMNF: 0.65

Orex Minerals Quick Ratio Historical Data

The historical data trend for Orex Minerals'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.

* Premium members only.

Orex Minerals Quick Ratio Chart

Orex Minerals Annual Data
Trend Apr14 Apr15 Apr16 Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23
Quick Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 13.10 3.00 86.51 48.39 15.02

Orex Minerals Quarterly Data
Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24
Quick Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 25.04 15.02 10.18 2.38 0.65

Competitive Comparison of Orex Minerals's Quick Ratio

For the Other Industrial Metals & Mining subindustry, Orex Minerals'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.


Orex Minerals's Quick Ratio Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Orex Minerals's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Orex Minerals's Quick Ratio falls into.



Orex Minerals 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.

Orex Minerals's Quick Ratio for the fiscal year that ended in Apr. 2023 is calculated as

Quick Ratio (A: Apr. 2023 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(0.931-0)/0.062
=15.02

Orex Minerals's Quick Ratio for the quarter that ended in Jan. 2024 is calculated as

Quick Ratio (Q: Jan. 2024 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(0.13-0)/0.199
=0.65

* 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.


Orex Minerals  (OTCPK:ORMNF) 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.


Orex Minerals Quick Ratio Related Terms

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Orex Minerals (Orex Minerals) Business Description

Traded in Other Exchanges
Address
1055 West Hastings Street, Suite 300, Vancouver, BC, CAN, V6E 2E9
Orex Minerals Inc is a Canadian-based mineral exploration company. It has a portfolio of gold, silver, and copper exploration projects on renowned mineral trends in Mexico and Canada. The company manages projects like Coneto, Sandra, and Jumping Josephine. It is in the process of exploring and evaluating its resource properties and has not yet determined whether any of its properties contain economically recoverable ore reserves.