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. Affinor Growers's quick ratio for the quarter that ended in Feb. 2024 was 0.07.
Affinor Growers has a quick ratio of 0.07. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Affinor Growers's Quick Ratio or its related term are showing as below:
XCNQ:AFI'
s Quick Ratio Range Over the Past 10 Years
Min: 0.01 Med: 0.46 Max: 31.5
Current: 0.07
During the past 13 years, Affinor Growers's highest Quick Ratio was 31.50. The lowest was 0.01. And the median was 0.46.
XCNQ:AFI's Quick Ratio is ranked worse than 98.38% of 1914
companies
in the Consumer Packaged Goods industry
Industry Median: 1.03
vs XCNQ:AFI: 0.07
Affinor Growers Quick Ratio Historical Data
The historical data trend for Affinor Growers'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 Affinor Growers's Quick Ratio
For the Farm Products subindustry, Affinor Growers'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.
Affinor Growers's Quick Ratio Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Affinor Growers's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Affinor Growers's Quick Ratio falls into.
Affinor Growers 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.
Affinor Growers's Quick Ratio for the fiscal year that ended in May. 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.
Affinor Growers (XCNQ:AFI) 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.
Affinor Growers Quick Ratio Related Terms
Thank you for viewing the detailed overview of Affinor Growers's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Affinor Growers Inc is a farming technology company engaged in acquiring, patenting, and commercializing various agriculture technologies and vertical farming technology for the indoor controlled environment and outdoor greenhouse agriculture industry in North America. It produces strawberries and other crops, such as romaine lettuce and herbs using vertical farming technology. The company principally operates in North America. The Company's revenue model includes entering into licensing agreements that provide licensing revenue as well as earnings on sales of its equipment and sale of produce from its production facilities.
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