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. Magnit PJSC's current ratio for the quarter that ended in Jun. 2023 was 1.20.
Magnit PJSC has a current ratio of 1.20. It generally indicates good short-term financial strength.
The historical rank and industry rank for Magnit PJSC's Current Ratio or its related term are showing as below:
MGJCL'
s Current Ratio Range Over the Past 10 Years
Min: 0.69 Med: 0.84 Max: 1.2
Current: 1.2
During the past 13 years, Magnit PJSC's highest Current Ratio was 1.20. The lowest was 0.69. And the median was 0.84.
MGJCL's Current Ratio is ranked worse than 55.7% of 316
companies
in the Retail - Defensive industry
Industry Median: 1.29
vs MGJCL: 1.20
Magnit PJSC Current Ratio Historical Data
The historical data trend for Magnit PJSC'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.
Competitive Comparison of Magnit PJSC's Current Ratio
For the Discount Stores subindustry, Magnit PJSC'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.
Magnit PJSC's Current Ratio Distribution in the Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Magnit PJSC's Current Ratio distribution charts can be found below:
* The bar in red indicates where Magnit PJSC's Current Ratio falls into.
Magnit PJSC 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.
Magnit PJSC's Current Ratio for the fiscal year that ended in Dec. 2022 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.
Magnit PJSC (GREY:MGJCL) 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.
Magnit PJSC Current Ratio Related Terms
Thank you for viewing the detailed overview of Magnit PJSC's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
PJSC Magnit operates in the retail and distribution of consumer goods under the Magnit, the DIXY and the Megamart names. The Group's retail operations are operated through convenience stores, cosmetic stores, supermarkets and other. The Group's business operations are located in the Russian Federation and relate primarily to retail sales of consumer goods. The company operates in about 4,000 localities. The company utilizes a multiformat model, which includes convenience and drogerie stores, supermarkets and pharmacies. Aside from commodity sales, it operates a private-label food production business. The company manages several plants for growing vegetables and the production of dry food and confectionery.
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