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Canadian North Resources (TSXV:CNRI) Cash Ratio : 4.54 (As of Mar. 2024)


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What is Canadian North Resources 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. Canadian North Resources's Cash Ratio for the quarter that ended in Mar. 2024 was 4.54.

Canadian North Resources has a Cash Ratio of 4.54. 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 Canadian North Resources's Cash Ratio or its related term are showing as below:

TSXV:CNRI' s Cash Ratio Range Over the Past 10 Years
Min: 0.42   Med: 3.15   Max: 17.17
Current: 4.54

During the past 4 years, Canadian North Resources's highest Cash Ratio was 17.17. The lowest was 0.42. And the median was 3.15.

TSXV:CNRI's Cash Ratio is ranked better than
73.9% of 2590 companies
in the Metals & Mining industry
Industry Median: 1.095 vs TSXV:CNRI: 4.54

Canadian North Resources Cash Ratio Historical Data

The historical data trend for Canadian North Resources'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.

Canadian North Resources Cash Ratio Chart

Canadian North Resources Annual Data
Trend Dec20 Dec21 Dec22 Dec23
Cash Ratio
0.94 8.38 3.15 5.17

Canadian North Resources Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 2.88 1.02 0.42 5.17 4.54

Competitive Comparison of Canadian North Resources's Cash Ratio

For the Other Industrial Metals & Mining subindustry, Canadian North Resources'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.


Canadian North Resources's Cash Ratio Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Canadian North Resources's Cash Ratio falls into.



Canadian North Resources Cash Ratio Calculation

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

Canadian North Resources'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
=5.54/1.071
=5.17

Canadian North Resources's Cash Ratio for the quarter that ended in Mar. 2024 is calculated as:

Cash Ratio (Q: Mar. 2024 )=Cash, Cash Equivalents, Marketable Securities/Total Current Liabilities
=4.75/1.046
=4.54

* 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.


Canadian North Resources  (TSXV:CNRI) 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.


Canadian North Resources Cash Ratio Related Terms

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Canadian North Resources (TSXV:CNRI) Business Description

Traded in Other Exchanges
Address
299 Courtneypark Dr. E, 3rd Floor, Mississauga, ON, CAN
Canadian North Resources Inc is a Canadian mining exploration and development company that owns an interest in the Ferguson Lake mining property in the Kivalliq Region of Nunavut, Canada.
Executives
Michael Weeks Director
David Richard Brown Director

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