Cryofocus Medtech (Shanghai) Co has a quick ratio of 7.06. It generally indicates good short-term financial strength.
The historical rank and industry rank for Cryofocus Medtech (Shanghai) Co's Quick Ratio or its related term are showing as below:
HKSE:06922'
s Quick Ratio Range Over the Past 10 Years
Min: 1.83 Med: 5.81 Max: 7.06
Current: 4.08
During the past 4 years, Cryofocus Medtech (Shanghai) Co's highest Quick Ratio was 7.06. The lowest was 1.83. And the median was 5.81.
HKSE:06922's Quick Ratio is ranked better than 74.25% of 866
companies
in the Medical Devices & Instruments industry
Industry Median: 2.06
vs HKSE:06922: 4.08
Cryofocus Medtech (Shanghai) Co Quick Ratio Historical Data
* 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 Cryofocus Medtech (Shanghai) Co's Quick Ratio
For the Medical Devices subindustry, Cryofocus Medtech (Shanghai) Co'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.
Cryofocus Medtech (Shanghai) Co's Quick Ratio Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Cryofocus Medtech (Shanghai) Co's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Cryofocus Medtech (Shanghai) Co's Quick Ratio falls into.
Cryofocus Medtech (Shanghai) Co 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.
* 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.
Cryofocus Medtech (Shanghai) Co (HKSE:06922) 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.
Cryofocus Medtech (Shanghai) Co Quick Ratio Related Terms
Thank you for viewing the detailed overview of Cryofocus Medtech (Shanghai) Co's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Cryofocus Medtech (Shanghai) Co (HKSE:06922) Business Description
Cryofocus Medtech (Shanghai) Co Ltd is a medical device company engaged in the research and development, manufacture and sale of cryoablation minimally-invasive interventional treatment technology and related medical products. It has two Core Products, the Bladder Cryoablation System and the Endoscopic Clip for Anastomosis. The Bladder Cryoablation System is a cryotherapy device designed for the treatment of bladder cancer. The Endoscopic Clip for Anastomosis is an anastomotic device for the closure of soft tissue in the digestive tract, which is one of the over-the-scope clips. Geographically company's key revenue is generated from China.
Cryofocus Medtech (Shanghai) Co (HKSE:06922) Headlines
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