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. Sokoman Minerals's quick ratio for the quarter that ended in Dec. 2023 was 28.30.
Sokoman Minerals has a quick ratio of 28.30. It generally indicates good short-term financial strength.
The historical rank and industry rank for Sokoman Minerals's Quick Ratio or its related term are showing as below:
TSXV:SIC'
s Quick Ratio Range Over the Past 10 Years
Min: 0.02 Med: 7.63 Max: 49.93
Current: 28.3
During the past 13 years, Sokoman Minerals's highest Quick Ratio was 49.93. The lowest was 0.02. And the median was 7.63.
TSXV:SIC's Quick Ratio is ranked better than 95.19% of 2681
companies
in the Metals & Mining industry
Industry Median: 1.71
vs TSXV:SIC: 28.30
Sokoman Minerals Quick Ratio Historical Data
The historical data trend for Sokoman 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.
Competitive Comparison of Sokoman Minerals's Quick Ratio
For the Gold subindustry, Sokoman 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.
Sokoman Minerals's Quick Ratio Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Sokoman Minerals's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Sokoman Minerals's Quick Ratio falls into.
Sokoman 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.
Sokoman Minerals's Quick Ratio for the fiscal year that ended in Jun. 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.
Sokoman Minerals (TSXV:SIC) 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.
Sokoman Minerals Quick Ratio Related Terms
Thank you for viewing the detailed overview of Sokoman Minerals's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Sokoman Minerals Corp is a discovery-oriented company with projects in the province of Newfoundland and Labrador, Canada. The company's primary focus is its portfolio of gold projects: flagship, advanced-stage Moosehead, Crippleback Lake, and East Alder along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project in north-central Newfoundland that is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. The company has also entered into a strategic alliance (the Alliance) with Benton Resources through three large-scale joint-venture properties including Grey River Gold, Golden Hope and Kepenkeck on the island of Newfoundland.
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