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Euroseas (Euroseas) Quick Ratio : 0.91 (As of Mar. 2024)


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What is Euroseas 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. Euroseas's quick ratio for the quarter that ended in Mar. 2024 was 0.91.

Euroseas has a quick ratio of 0.91. It indicates that the company cannot currently fully pay back its current liabilities.

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

ESEA' s Quick Ratio Range Over the Past 10 Years
Min: 0.18   Med: 0.7   Max: 2.43
Current: 0.91

During the past 13 years, Euroseas's highest Quick Ratio was 2.43. The lowest was 0.18. And the median was 0.70.

ESEA's Quick Ratio is ranked worse than
70.58% of 972 companies
in the Transportation industry
Industry Median: 1.27 vs ESEA: 0.91

Euroseas Quick Ratio Historical Data

The historical data trend for Euroseas'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.

Euroseas Quick Ratio Chart

Euroseas Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Quick Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.18 0.28 0.82 0.60 1.24

Euroseas Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 0.62 0.68 1.29 1.24 0.91

Competitive Comparison of Euroseas's Quick Ratio

For the Marine Shipping subindustry, Euroseas'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.


Euroseas's Quick Ratio Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Euroseas's Quick Ratio distribution charts can be found below:

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



Euroseas 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.

Euroseas's Quick Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Quick Ratio (A: Dec. 2023 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(65.972-2.538)/51.188
=1.24

Euroseas'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
=(64.376-3.06)/67.034
=0.91

* 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.


Euroseas  (NAS:ESEA) 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.


Euroseas Quick Ratio Related Terms

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Euroseas (Euroseas) Business Description

Traded in Other Exchanges
Address
4 Messogiou and Evropis Street, Maroussi, GRC, 151 24
Euroseas Ltd is a shipping company. Its fleet consists of containerships that transport container boxes providing scheduled service between ports. Its operations are managed by an affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. The company employs its vessels on spot and period charters and through pool arrangements.

Euroseas (Euroseas) Headlines

From GuruFocus

Euroseas Ltd. Announces Filing of Form 20-F with the SEC

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