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. Nickel 28 Capital's Cash Ratio for the quarter that ended in Oct. 2023 was 0.87.
Nickel 28 Capital has a Cash Ratio of 0.87. It indicates that there are more current liabilities than Cash, Cash Equivalents, Marketable Securities, and the company does not have sufficient cash on hand to pay off its short-term debt.
The historical rank and industry rank for Nickel 28 Capital's Cash Ratio or its related term are showing as below:
CONXF'
s Cash Ratio Range Over the Past 10 Years
Min: 0.11 Med: 0.31 Max: 0.87
Current: 0.87
During the past 4 years, Nickel 28 Capital's highest Cash Ratio was 0.87. The lowest was 0.11. And the median was 0.31.
CONXF's Cash Ratio is ranked worse than 56.04% of 2600
companies
in the Metals & Mining industry
Industry Median: 1.25
vs CONXF: 0.87
Nickel 28 Capital Cash Ratio Historical Data
The historical data trend for Nickel 28 Capital'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.
Competitive Comparison of Nickel 28 Capital's Cash Ratio
For the Other Industrial Metals & Mining subindustry, Nickel 28 Capital'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.
Nickel 28 Capital's Cash Ratio Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Nickel 28 Capital's Cash Ratio distribution charts can be found below:
* The bar in red indicates where Nickel 28 Capital's Cash Ratio falls into.
Nickel 28 Capital Cash Ratio Calculation
The Cash Ratio measures a company's ability to meet its short-term obligations with its cash and near-cash resources.
Nickel 28 Capital's Cash Ratio for the fiscal year that ended in Jan. 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.
Nickel 28 Capital (OTCPK:CONXF) 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.
Nickel 28 Capital Cash Ratio Related Terms
Thank you for viewing the detailed overview of Nickel 28 Capital's Cash Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Nickel 28 Capital (Nickel 28 Capital) Business Description
Nickel 28 Capital Corp is a nickel-cobalt producer in Canada. Nickel-cobalt production comes from its joint-venture interest in the Ramu Nickel-Cobalt Operation located in Papua New Guinea provides it with significant attributable nickel and cobalt production thereby offering shareholders direct exposure to two metals that are critical to the adoption of electric vehicles. In addition, the company manages a portfolio of around 13 nickel and cobalt royalties on development and exploration projects in Canada, Australia, and Papua New Guinea.
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