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FOMNF (Forte Minerals) Cash Ratio : 11.65 (As of Sep. 2024)


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What is Forte Minerals Cash Ratio?

The Cash Ratio measures a company’s ability to meet its short-term obligations with cash and near-cash resources. It is calculated as a company's Cash, Cash Equivalents, Marketable Securities divides by its Total Current Liabilities. Forte Minerals's Cash Ratio for the quarter that ended in Sep. 2024 was 11.65.

Forte Minerals has a Cash Ratio of 11.65. It generally indicates that the company is able to cover all short-term debt and still have cash remaining.

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

FOMNF' s Cash Ratio Range Over the Past 10 Years
Min: 0.55   Med: 11.07   Max: 20.71
Current: 11.62

During the past 4 years, Forte Minerals's highest Cash Ratio was 20.71. The lowest was 0.55. And the median was 11.07.

FOMNF's Cash Ratio is ranked better than
88.9% of 2541 companies
in the Metals & Mining industry
Industry Median: 1.06 vs FOMNF: 11.62

Forte Minerals Cash Ratio Historical Data

The historical data trend for Forte Minerals's Cash 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.

Forte Minerals Cash Ratio Chart

Forte Minerals Annual Data
Trend Dec20 Dec21 Dec22 Dec23
Cash Ratio
5.28 0.74 20.65 3.03

Forte Minerals Quarterly Data
Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Cash 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 4.23 3.03 0.55 11.07 11.65

Competitive Comparison of Forte Minerals's Cash Ratio

For the Other Precious Metals & Mining subindustry, Forte Minerals's Cash Ratio, along with its competitors' market caps and Cash 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.


Forte Minerals's Cash Ratio Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Forte Minerals's Cash Ratio falls into.



Forte Minerals Cash Ratio Calculation

The Cash Ratio measures a company's ability to meet its short-term obligations with its cash and near-cash resources.

Forte Minerals's Cash Ratio for the fiscal year that ended in Dec. 2023 is calculated as:

Cash Ratio (A: Dec. 2023 )=Cash, Cash Equivalents, Marketable Securities/Total Current Liabilities
=0.115/0.038
=3.03

Forte Minerals's Cash Ratio for the quarter that ended in Sep. 2024 is calculated as:

Cash Ratio (Q: Sep. 2024 )=Cash, Cash Equivalents, Marketable Securities/Total Current Liabilities
=1.072/0.092
=11.65

* 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.


Forte Minerals  (OTCPK:FOMNF) Cash Ratio Explanation

The cash ratio is more conservative than other liquidity ratios, such as Quick Ratio and Current Ratio, because it only considers a company's most liquid resources. The numerator of cash ratio only considers Cash, Cash Equivalents and marketable securities. Other current assets, such as accounts receivable and inventories, are not included. The rationale is that these assets may require time to be transformed into cash, and the amount of money received is also uncertain.

The cash ratio shows a company’s ability to pay all current liabilities immediately without selling or liquidating other assets. Generally speaking, a higher cash ratio suggests the company has a stronger ability to cover its short-term debt. However, a high cash ratio could also indicate inefficient management: the company is inefficient in making full utilization of cash to invest protential profitable project. It may also suggest that the company is not confident about future profitability.

In general, the higher the cash ratio, the better the company's liquidity position.


Forte Minerals Cash Ratio Related Terms

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Forte Minerals Business Description

Traded in Other Exchanges
Address
1005-409 Granville Street, Vancouver, BC, CAN, V6C 1T2
Forte Minerals Corp is a mining exploration company focused on copper and gold in Peru. Its projects are Esperanza Project, Pucarini Project, and Don Gregorio Project.