Lexagene Holdings (Lexagene Holdings) Quick Ratio : 0.51 (As of Nov. 2022)

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What is Lexagene Holdings 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. Lexagene Holdings's quick ratio for the quarter that ended in Nov. 2022 was 0.51.

Lexagene Holdings has a quick ratio of 0.51. It indicates that the company cannot currently fully pay back its current liabilities.

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

LXXGQ's Quick Ratio is not ranked ^*
in the Medical Devices & Instruments industry.
Industry Median: 2.01
* Ranked among companies with meaningful Quick Ratio only.

Lexagene Holdings Quick Ratio Historical Data

The historical data trend for Lexagene Holdings'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.

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Lexagene Holdings Quick Ratio Chart

Lexagene Holdings Annual Data

Trend

Mar13

Mar14

Mar15

Feb16

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Quick Ratio

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11.54

2.95

6.57

9.84

5.61

Lexagene Holdings Quarterly Data
	Feb18	May18	Aug18	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22
Quick Ratio	Get a 7-Day Free Trial															3.32	5.61	3.47	1.40	0.51

Competitive Comparison of Lexagene Holdings's Quick Ratio

For the Medical Devices subindustry, Lexagene Holdings'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.

Lexagene Holdings's Quick Ratio Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Lexagene Holdings's Quick Ratio distribution charts can be found below:

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

Lexagene Holdings 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.

Lexagene Holdings's Quick Ratio for the fiscal year that ended in Feb. 2022 is calculated as

Quick Ratio (A: Feb. 2022 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(6.573	-	1.396)	/	0.923
	=	5.61

Lexagene Holdings's Quick Ratio for the quarter that ended in Nov. 2022 is calculated as

Quick Ratio (Q: Nov. 2022 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(2.296	-	1.445)	/	1.655
	=	0.51

Lexagene Holdings (OTCPK:LXXGQ) 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.

Lexagene Holdings Quick Ratio Related Terms

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Lexagene Holdings (Lexagene Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Lexagene Holdings Inc (OTCPK:LXXGQ) » Definitions » Quick Ratio

Comparable Companies

Traded in Other Exchanges

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Address

500 Cummings Center, Suite 4550, Beverly, MA, USA, 01915

Website

https://www.lexagene.com

Lexagene Holdings Inc is a molecular diagnostics company that develops molecular diagnostic systems for pathogen detection and genetic testing for other molecular markers for on-site rapid testing in veterinary diagnostics, and for use in open-access markets such as food and water safety, clinical research, agricultural testing and biodefense. The MiQLab system delivers sensitivity, specificity, and breadth of detection and can return results in approximately two hours. The unique open-access feature is designed for custom testing so that end-users can load their own real-time PCR assays onto the instrument to target any genetic target of interest.