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. Afentra's quick ratio for the quarter that ended in Jun. 2024 was 0.62.
Afentra has a quick ratio of 0.62. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Afentra's Quick Ratio or its related term are showing as below:
FRA:TB8A'
s Quick Ratio Range Over the Past 10 Years
Min: 0.6 Med: 22.99 Max: 220.98
Current: 0.62
During the past 13 years, Afentra's highest Quick Ratio was 220.98. The lowest was 0.60. And the median was 22.99.
FRA:TB8A's Quick Ratio is ranked worse than 78.11% of 1037
companies
in the Oil & Gas industry
Industry Median: 1.17
vs FRA:TB8A: 0.62
Afentra Quick Ratio Historical Data
The historical data trend for Afentra'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 Oil & Gas E&P subindustry, Afentra'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.
Afentra's Quick Ratio Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Afentra's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Afentra'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.
Afentra's Quick Ratio for the fiscal year that ended in Dec. 2023 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.
Afentra (FRA:TB8A) 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.
Afentra Quick Ratio Related Terms
Thank you for viewing the detailed overview of Afentra's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Afentra PLC is an upstream oil and gas company in the United Kingdom with a focus on exploring opportunities across Africa. Its purpose is to support the energy transition in Africa by establishing itself as a credible partner for divesting IOCs and Host Governments. It holds a non-operated interest in several key blocks. The group has a non-operated interest in producing Block 3/05, as well as in the adjacent development Block 3/05A in the Lower Congo Basin, Angola. Additionally, it holds a non-operating interest in the exploration of Block 23 in the Kwanza Basin. Onshore Angola, Afentra has a non-operated interest in Block KON 19, located in the western part of the Onshore Kwanza Basin. It also has a carried interest in the Odewayne Block, located onshore in southwestern Somaliland.
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