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. Goodfood Market's quick ratio for the quarter that ended in Feb. 2024 was 1.08.
Goodfood Market has a quick ratio of 1.08. It generally indicates good short-term financial strength.
The historical rank and industry rank for Goodfood Market's Quick Ratio or its related term are showing as below:
GDDFF'
s Quick Ratio Range Over the Past 10 Years
Min: 0.75 Med: 1.78 Max: 25.35
Current: 1.08
During the past 9 years, Goodfood Market's highest Quick Ratio was 25.35. The lowest was 0.75. And the median was 1.78.
GDDFF's Quick Ratio is ranked better than 51.85% of 108
companies
in the Personal Services industry
Industry Median: 1.05
vs GDDFF: 1.08
Goodfood Market Quick Ratio Historical Data
The historical data trend for Goodfood Market'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.
Competitive Comparison of Goodfood Market's Quick Ratio
For the Personal Services subindustry, Goodfood Market'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.
Goodfood Market's Quick Ratio Distribution in the Personal Services Industry
For the Personal Services industry and Consumer Cyclical sector, Goodfood Market's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Goodfood Market's Quick Ratio falls into.
Goodfood Market 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.
Goodfood Market's Quick Ratio for the fiscal year that ended in Aug. 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.
Goodfood Market (OTCPK:GDDFF) 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.
Goodfood Market Quick Ratio Related Terms
Thank you for viewing the detailed overview of Goodfood Market's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Goodfood Market (Goodfood Market) Business Description
Goodfood Market Corp is an online grocery company in Canada delivering fresh meal solutions and groceries that make it easy for members to enjoy delicious meals at home every day. The principal business activity is focused on developing and servicing the online meal kit and grocery add-on market. Goodfood members have access to products and exclusive pricing made possible by its direct-to-consumer fulfilment ecosystem that eliminates waste and retail overhead. It has a production facility and administrative offices in Montreal, with five additional facilities located in Quebec, Ontario, Alberta, and British Columbia. The Company is passionate about connecting its partner farms and suppliers to its customers' kitchens while eliminating food waste and costly retail overhead.
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