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Northern Lights Resources (XCNQ:NLR) Current Ratio : 0.29 (As of Jul. 2024)


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What is Northern Lights Resources Current Ratio?

The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated as a company's Total Current Assets divides by its Total Current Liabilities. Northern Lights Resources's current ratio for the quarter that ended in Jul. 2024 was 0.29.

Northern Lights Resources has a current ratio of 0.29. It indicates that the company may have difficulty meeting its current obligations. Low values, however, do not indicate a critical problem. If Northern Lights Resources has good long-term prospects, it may be able to borrow against those prospects to meet current obligations.

The historical rank and industry rank for Northern Lights Resources's Current Ratio or its related term are showing as below:

XCNQ:NLR' s Current Ratio Range Over the Past 10 Years
Min: 0.05   Med: 0.47   Max: 13.61
Current: 0.29

During the past 11 years, Northern Lights Resources's highest Current Ratio was 13.61. The lowest was 0.05. And the median was 0.47.

XCNQ:NLR's Current Ratio is ranked worse than
82.33% of 2654 companies
in the Metals & Mining industry
Industry Median: 1.83 vs XCNQ:NLR: 0.29

Northern Lights Resources Current Ratio Historical Data

The historical data trend for Northern Lights Resources's Current 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.

Northern Lights Resources Current Ratio Chart

Northern Lights Resources Annual Data
Trend Apr12 Apr13 Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23 Apr24
Current Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.06 3.82 0.05 0.59 0.47

Northern Lights Resources Quarterly Data
Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24
Current 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 Premium Member Only Premium Member Only Premium Member Only 0.61 0.57 0.63 0.47 0.29

Competitive Comparison of Northern Lights Resources's Current Ratio

For the Gold subindustry, Northern Lights Resources's Current Ratio, along with its competitors' market caps and Current 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.


Northern Lights Resources's Current Ratio Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Northern Lights Resources's Current Ratio distribution charts can be found below:

* The bar in red indicates where Northern Lights Resources's Current Ratio falls into.



Northern Lights Resources Current Ratio Calculation

The current ratio is mainly used to give an idea of the company's ability to pay back its short-term liabilities with its short-term assets.

Northern Lights Resources's Current Ratio for the fiscal year that ended in Apr. 2024 is calculated as

Current Ratio (A: Apr. 2024 )=Total Current Assets (A: Apr. 2024 )/Total Current Liabilities (A: Apr. 2024 )
=0.473/1.007
=0.47

Northern Lights Resources's Current Ratio for the quarter that ended in Jul. 2024 is calculated as

Current Ratio (Q: Jul. 2024 )=Total Current Assets (Q: Jul. 2024 )/Total Current Liabilities (Q: Jul. 2024 )
=0.283/0.973
=0.29

* 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.


Northern Lights Resources  (XCNQ:NLR) Current Ratio Explanation

The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations. Because business operations differ in each industry, it is always more useful to compare companies within the same industry.

Acceptable current ratios vary from industry to industry and are generally between 1 and 3 for healthy businesses.

The higher the current ratio, the more capable the company is of paying its obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point. While this shows the company is not in good financial health, it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign.

If all other things were equal, a creditor, who is expecting to be paid in the next 12 months, would consider a high current ratio to be better than a low current ratio, because a high current ratio means that the company is more likely to meet its liabilities which fall due in the next 12 months.


Northern Lights Resources Current Ratio Related Terms

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Northern Lights Resources Business Description

Traded in Other Exchanges
Address
1055 West Hastings Street, Suite 300, Vancouver, BC, CAN, V6E 2E9
Northern Lights Resources Corp is an exploration and development company. Its principal business activities include acquiring and exploring resource properties. The company owns the Secret Pass Gold Project in Arizona, United States.
Executives
Albert Richard Timcke Director, Senior Officer
Jason Bahnsen Director, Senior Officer
Kerem Akbas 10% Security Holder
Graham Keevil Director

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