Afloat Enterprises has a quick ratio of 91.04. It generally indicates good short-term financial strength.
The historical rank and industry rank for Afloat Enterprises's Quick Ratio or its related term are showing as below:
BOM:543377'
s Quick Ratio Range Over the Past 10 Years
Min: 1.47 Med: 11.31 Max: 91.04
Current: 91.04
During the past 6 years, Afloat Enterprises's highest Quick Ratio was 91.04. The lowest was 1.47. And the median was 11.31.
BOM:543377's Quick Ratio is ranked better than 99.37% of 631
companies
in the Steel industry
Industry Median: 0.97
vs BOM:543377: 91.04
Afloat Enterprises Quick Ratio Historical Data
The historical data trend for Afloat Enterprises'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 Afloat Enterprises's Quick Ratio
For the Steel subindustry, Afloat Enterprises'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.
Afloat Enterprises's Quick Ratio Distribution in the Steel Industry
For the Steel industry and Basic Materials sector, Afloat Enterprises's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Afloat Enterprises's Quick Ratio falls into.
Afloat Enterprises Quick Ratio Calculation
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.
Afloat Enterprises's Quick Ratio for the fiscal year that ended in Mar. 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.
Afloat Enterprises (BOM:543377) 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.
Afloat Enterprises Quick Ratio Related Terms
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Afloat Enterprises (BOM:543377) Business Description
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