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. Body and Mind's quick ratio for the quarter that ended in Jan. 2024 was 0.44.
Body and Mind has a quick ratio of 0.44. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Body and Mind's Quick Ratio or its related term are showing as below:
XCNQ:BAMM'
s Quick Ratio Range Over the Past 10 Years
Min: 0.01 Med: 0.63 Max: 12.48
Current: 0.44
During the past 13 years, Body and Mind's highest Quick Ratio was 12.48. The lowest was 0.01. And the median was 0.63.
XCNQ:BAMM's Quick Ratio is ranked worse than 86.74% of 1071
companies
in the Drug Manufacturers industry
Industry Median: 1.33
vs XCNQ:BAMM: 0.44
Body and Mind Quick Ratio Historical Data
The historical data trend for Body and Mind'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 Body and Mind's Quick Ratio
For the Drug Manufacturers - Specialty & Generic subindustry, Body and Mind'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.
Body and Mind's Quick Ratio Distribution in the Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Body and Mind's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Body and Mind's Quick Ratio falls into.
Body and Mind 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.
Body and Mind's Quick Ratio for the fiscal year that ended in Jul. 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.
Body and Mind (XCNQ:BAMM) 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.
Body and Mind Quick Ratio Related Terms
Thank you for viewing the detailed overview of Body and Mind's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Body and Mind Inc is a multi-state cannabis operator, which has retail, distribution, cultivation, and/or processing operations in Nevada, California, Arkansas, Ohio and Illinois. It has developed the marquis lifestyle Body and Mind brand in Nevada with penetration into dispensaries and has expanded its brand and products to dispensaries in California. The Body and Mind brand appeals to a wide range of cannabis consumers with products including flowers, oils, extracts (wax, live resin, ambrosia), and edibles. The Company Operates in Three segments; Wholesale, Retail, and All others. The Majority of revenue is derived from the Retail segment.
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