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CNEY (CN Energy Group) Quick Ratio : 4.14 (As of Mar. 2024)


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What is CN Energy Group Quick Ratio?

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. CN Energy Group's quick ratio for the quarter that ended in Mar. 2024 was 4.14.

CN Energy Group has a quick ratio of 4.14. It generally indicates good short-term financial strength.

The historical rank and industry rank for CN Energy Group's Quick Ratio or its related term are showing as below:

CNEY' s Quick Ratio Range Over the Past 10 Years
Min: 1.32   Med: 3.1   Max: 8.47
Current: 4.14

During the past 6 years, CN Energy Group's highest Quick Ratio was 8.47. The lowest was 1.32. And the median was 3.10.

CNEY's Quick Ratio is ranked better than
87.84% of 1563 companies
in the Chemicals industry
Industry Median: 1.37 vs CNEY: 4.14

CN Energy Group Quick Ratio Historical Data

The historical data trend for CN Energy Group'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.

* Premium members only.

CN Energy Group Quick Ratio Chart

CN Energy Group Annual Data
Trend Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Quick Ratio
Get a 7-Day Free Trial 1.32 1.54 8.47 2.41 3.10

CN Energy Group Semi-Annual Data
Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24
Quick Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.98 2.41 3.10 3.10 4.14

Competitive Comparison of CN Energy Group's Quick Ratio

For the Specialty Chemicals subindustry, CN Energy Group'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.


CN Energy Group's Quick Ratio Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, CN Energy Group's Quick Ratio distribution charts can be found below:

* The bar in red indicates where CN Energy Group's Quick Ratio falls into.



CN Energy Group 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.

CN Energy Group's Quick Ratio for the fiscal year that ended in Sep. 2023 is calculated as

Quick Ratio (A: Sep. 2023 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(72.449-2.655)/22.525
=3.10

CN Energy Group's Quick Ratio for the quarter that ended in Mar. 2024 is calculated as

Quick Ratio (Q: Mar. 2024 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(68.219-4.031)/15.494
=4.14

* 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.


CN Energy Group  (NAS:CNEY) 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.


CN Energy Group Quick Ratio Related Terms

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CN Energy Group Business Description

Traded in Other Exchanges
N/A
Address
No. 268 Shiniu Road, Building 2-B, Room 206, Liandu District, Zhejiang Province, Lishui, CHN
CN Energy Group Inc along with its subsidiaries is a manufacturer and supplier of wood-based activated carbon that is used in pharmaceutical manufacturing, industrial manufacturing, water purification, environmental protection, and food and beverage production and a producer of biomass electricity generated in the process of producing activated carbon. The firm generates a majority of its revenue from Activated carbon.