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New Horizon Health has a quick ratio of 10.50. It generally indicates good short-term financial strength.
The historical rank and industry rank for New Horizon Health's Quick Ratio or its related term are showing as below:
FRA:6YZ's Quick Ratio is not ranked *
in the Medical Devices & Instruments industry.
Industry Median: 1.89 * Ranked among companies with meaningful Quick Ratio only.
New Horizon Health (FRA:6YZ) 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.
New Horizon Health Quick Ratio Related Terms
New Horizon Health Quick Ratio Historical Data
* Premium members only.
The historical data trend for New Horizon Health'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.
For the Medical Devices subindustry, New Horizon Health'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.
New Horizon Health Quick Ratio vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, New Horizon Health's Quick Ratio distribution charts can be found below:
* The bar in red indicates where New Horizon Health'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.
New Horizon Health's Quick Ratio for the fiscal year that ended in Dec. 2022 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.
New Horizon Health (FRA:6YZ) has a Quick Ratio of 10.50 as of Jun. 2023. Quick ratio is the ratio of current assets less inventory to current liabilities. View historical data on New Horizon Health and its competitors.
Is New Horizon Health's Quick Ratio too high?
New Horizon Health's current Quick Ratio is 10.50. The Medical Devices & Instruments industry median Quick Ratio is 1.89. New Horizon Health's value of 10.50 is 455.6% above this industry median. Overall, New Horizon Health has a GF Score™ of 35/100, reflecting its overall financial health beyond just this single metric.
How does New Horizon Health's Quick Ratio compare to ABT and SYK?
New Horizon Health's Quick Ratio of 10.50 can be compared against companies in the Medical Devices & Instruments industry. The industry median Quick Ratio is 1.89. New Horizon Health's value of 10.50 is 455.6% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Quick Ratio for a Medical Devices & Instruments company?
The median Quick Ratio among Medical Devices & Instruments companies is 1.89, based on 853 companies in the industry. Companies in the top quartile (top 25%) have a Quick Ratio significantly above this median, while those in the bottom quartile fall well below. However, Quick Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. New Horizon Health's current Quick Ratio of 10.50 is 455.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Quick Ratio mean?
A high Quick Ratio can signal that a stock is expensive relative to its fundamentals. Quick ratio is the ratio of current assets less inventory to current liabilities. View historical data on New Horizon Health and its competitors. For the Medical Devices & Instruments industry, the median Quick Ratio is 1.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. New Horizon Health's current Quick Ratio is 10.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Horizon Health stock overvalued right now?
New Horizon Health (FRA:6YZ) has a current Quick Ratio of 10.50. The current Quick Ratio is 10.50 and 455.6% above the Medical Devices & Instruments industry median of 1.89. New Horizon Health's overall GF Score™ is 35/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Quick Ratio calculated?
Quick Ratio is calculated from a company's financial statements. For New Horizon Health (FRA:6YZ), the current Quick Ratio is 10.50 as of Jun. 2023. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
New Horizon Health Ltd is engaged in early cancer screening and in-home testing in China. The company has an early detection and cancer screening-focused pipeline of five products and product candidates with an emphasis on colorectal cancer screening. The company focuses on cancer prevention and cure through screening and early detection. It generates maximum revenue from ColoClear and Pupu Tube products.
35GF Score
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