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. Great Canadian Gaming's current ratio for the quarter that ended in Jun. 2021 was 3.57.
Great Canadian Gaming has a current ratio of 3.57. It indicates the company may not be efficiently using its current assets or its short-term financing facilities. This may also indicate problems in working capital management.
The historical rank and industry rank for Great Canadian Gaming's Current Ratio or its related term are showing as below:
GCGMF'
s Current Ratio Range Over the Past 10 Years
Min: 0.08 Med: 1.85 Max: 6.34
Current: 3.57
During the past 13 years, Great Canadian Gaming's highest Current Ratio was 6.34. The lowest was 0.08. And the median was 1.85.
GCGMF's Current Ratio is not ranked
in the Travel & Leisure industry.
Industry Median: 1.33
vs GCGMF: 3.57
Great Canadian Gaming Current Ratio Historical Data
The historical data trend for Great Canadian Gaming'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 Great Canadian Gaming's Current Ratio
For the Gambling subindustry, Great Canadian Gaming'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.
Great Canadian Gaming's Current Ratio Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Great Canadian Gaming's Current Ratio distribution charts can be found below:
* The bar in red indicates where Great Canadian Gaming's Current Ratio falls into.
Great Canadian Gaming 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.
Great Canadian Gaming's Current Ratio for the fiscal year that ended in Dec. 2020 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.
Great Canadian Gaming (OTCPK:GCGMF) 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.
Great Canadian Gaming Current Ratio Related Terms
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Great Canadian Gaming (Great Canadian Gaming) Business Description
Great Canadian Gaming Corp is a gambling, entertainment, and hospitality company that operates throughout Canada. The company's operations are divided into three segments based on geography: Ontario, British Columbia, and Atlantic. The company generates over half of its revenue from the Ontario region. Great Canadian Gaming Corp offerings include casinos with slot machines, table games, and food and beverage; outdoor horse racing tracks; and hotels, community gaming spots, and related hospitality facilities.
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