The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. Race Oncology's quick ratio for the quarter that ended in Dec. 2024 was 20.59.
Race Oncology has a quick ratio of 20.59. It generally indicates good short-term financial strength.
The historical rank and industry rank for Race Oncology's Quick Ratio or its related term are showing as below:
ASX:RAC'
s Quick Ratio Range Over the Past 10 Years
Min: 4.81 Med: 12.73 Max: 50.51
Current: 20.59
During the past 8 years, Race Oncology's highest Quick Ratio was 50.51. The lowest was 4.81. And the median was 12.73.
ASX:RAC's Quick Ratio is ranked better than 93.66% of 1499
companies
in the Biotechnology industry
Industry Median: 3.38
vs ASX:RAC: 20.59
Race Oncology Quick Ratio Historical Data
The historical data trend for Race Oncology's Quick 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 Race Oncology's Quick Ratio
For the Biotechnology subindustry, Race Oncology's Quick Ratio, along with its competitors' market caps and Quick 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.
Race Oncology's Quick Ratio Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Race Oncology's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Race Oncology's Quick Ratio falls into.
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.
Race Oncology's Quick Ratio for the fiscal year that ended in Jun. 2024 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.
Race Oncology (ASX:RAC) Quick Ratio Explanation
The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.
In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.
The higher the quick ratio, the better the company's liquidity position.
Race Oncology Quick Ratio Related Terms
Thank you for viewing the detailed overview of Race Oncology's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Race Oncology Ltd is a clinical stage biopharmaceutical company with a mission to be at the heart of cancer care. Its asset, bisantrene, is a small molecule chemotherapeutic. Bisantrene has a clinical history with demonstrated therapeutic benefits in both adult and pediatric patients, a well-characterized safety profile, and compelling clinical data demonstrating an anticancer effect and less cardiotoxicity over certain anthracyclines, such as doxorubicin. It has reformulated bisantrene (RC220) to address the high unmet needs of patients across multiple oncology indications, with a clinical focus on anthracycline combinations, where Race can deliver cardioprotection and enhanced anticancer activity in solid tumors.
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