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EQMEF (Equity Metals) Quick Ratio : 3.98 (As of May. 2024)


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What is Equity Metals 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. Equity Metals's quick ratio for the quarter that ended in May. 2024 was 3.98.

Equity Metals has a quick ratio of 3.98. It generally indicates good short-term financial strength.

The historical rank and industry rank for Equity Metals's Quick Ratio or its related term are showing as below:

EQMEF' s Quick Ratio Range Over the Past 10 Years
Min: 0.07   Med: 4.35   Max: 32.25
Current: 3.99

During the past 13 years, Equity Metals's highest Quick Ratio was 32.25. The lowest was 0.07. And the median was 4.35.

EQMEF's Quick Ratio is ranked better than
70.54% of 2654 companies
in the Metals & Mining industry
Industry Median: 1.52 vs EQMEF: 3.99

Equity Metals Quick Ratio Historical Data

The historical data trend for Equity Metals'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.

Equity Metals Quick Ratio Chart

Equity Metals Annual Data
Trend Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23
Quick Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.00 6.96 19.76 5.97 10.90

Equity Metals Quarterly Data
Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24
Quick Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.98 10.90 8.17 5.48 3.98

Competitive Comparison of Equity Metals's Quick Ratio

For the Other Precious Metals & Mining subindustry, Equity Metals'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.


Equity Metals's Quick Ratio Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Equity Metals's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Equity Metals's Quick Ratio falls into.



Equity Metals 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.

Equity Metals's Quick Ratio for the fiscal year that ended in Aug. 2023 is calculated as

Quick Ratio (A: Aug. 2023 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(2.322-0)/0.213
=10.90

Equity Metals's Quick Ratio for the quarter that ended in May. 2024 is calculated as

Quick Ratio (Q: May. 2024 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(2.505-0)/0.629
=3.98

* 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.


Equity Metals  (OTCPK:EQMEF) 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.


Equity Metals Quick Ratio Related Terms

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Equity Metals Business Description

Traded in Other Exchanges
Address
1100 - 1199 West Hastings Street, Vancouver, BC, CAN, V6E 3T5
Equity Metals Corp is engaged in the acquisition, exploration, and development of mineral and diamond properties in British Columbia, Saskatchewan and the Northwest Territories. It explores diamond, silver, and gold ores. The firm focuses on the exploration of diamonds on the Monument Property at Lac de Gras and gold and silver at the Silver Queen mine property, and also has interests in WO and La Ronge Silica project .