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. Numinus Wellness's current ratio for the quarter that ended in Feb. 2024 was 2.47.
Numinus Wellness has a current ratio of 2.47. It generally indicates good short-term financial strength.
The historical rank and industry rank for Numinus Wellness's Current Ratio or its related term are showing as below:
TSX:NUMI'
s Current Ratio Range Over the Past 10 Years
Min: 0.16 Med: 4.61 Max: 37.51
Current: 2.47
During the past 5 years, Numinus Wellness's highest Current Ratio was 37.51. The lowest was 0.16. And the median was 4.61.
TSX:NUMI's Current Ratio is ranked better than 71.39% of 671
companies
in the Healthcare Providers & Services industry
Industry Median: 1.38
vs TSX:NUMI: 2.47
Numinus Wellness Current Ratio Historical Data
The historical data trend for Numinus Wellness'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 Numinus Wellness's Current Ratio
For the Medical Care Facilities subindustry, Numinus Wellness'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.
Numinus Wellness's Current Ratio Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Numinus Wellness's Current Ratio distribution charts can be found below:
* The bar in red indicates where Numinus Wellness's Current Ratio falls into.
Numinus Wellness 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.
Numinus Wellness's Current Ratio for the fiscal year that ended in Aug. 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.
Numinus Wellness (TSX:NUMI) 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.
Numinus Wellness Current Ratio Related Terms
Thank you for viewing the detailed overview of Numinus Wellness's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Numinus Wellness Inc develops proprietary, psychedelic-centered, therapeutic products and services through its laboratory and research & development processes. The company's clinic network consists of Numinus Health, Mindspace Services, and the Neurology Center of Toronto. Its services include Ketamine-assisted psychotherapy for depression, neurological care, psychotherapy, and counseling by registered psychologists among others. The company's operating segments are; Clinical research operations, Canadian clinic network, US clinic network and Corporate. The majority of the revenue for the company is generated from US clinic network segment. Geographically, the company has its presence in United States and Canada.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TSX:NUMI has been successfully added to your 