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Global Crossing Airlines Group (NEOE:JET) Quick Ratio : 0.30 (As of Sep. 2024)


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What is Global Crossing Airlines Group 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. Global Crossing Airlines Group's quick ratio for the quarter that ended in Sep. 2024 was 0.30.

Global Crossing Airlines Group has a quick ratio of 0.30. It indicates that the company cannot currently fully pay back its current liabilities.

The historical rank and industry rank for Global Crossing Airlines Group's Quick Ratio or its related term are showing as below:

NEOE:JET' s Quick Ratio Range Over the Past 10 Years
Min: 0.21   Med: 1.45   Max: 12.77
Current: 0.3

During the past 13 years, Global Crossing Airlines Group's highest Quick Ratio was 12.77. The lowest was 0.21. And the median was 1.45.

NEOE:JET's Quick Ratio is ranked worse than
95.36% of 969 companies
in the Transportation industry
Industry Median: 1.29 vs NEOE:JET: 0.30

Global Crossing Airlines Group Quick Ratio Historical Data

The historical data trend for Global Crossing Airlines Group'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.

* Premium members only.

Global Crossing Airlines Group Quick Ratio Chart

Global Crossing Airlines Group Annual Data
Trend Apr14 Apr15 Apr16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Quick Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.29 0.26 0.66 0.42 0.58

Global Crossing Airlines Group Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Quick Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.67 0.58 0.40 0.38 0.30

Competitive Comparison of Global Crossing Airlines Group's Quick Ratio

For the Airlines subindustry, Global Crossing Airlines Group'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.


Global Crossing Airlines Group's Quick Ratio Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Global Crossing Airlines Group's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Global Crossing Airlines Group's Quick Ratio falls into.



Global Crossing Airlines Group 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.

Global Crossing Airlines Group's Quick Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Quick Ratio (A: Dec. 2023 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(41.042-0)/71.141
=0.58

Global Crossing Airlines Group's Quick Ratio for the quarter that ended in Sep. 2024 is calculated as

Quick Ratio (Q: Sep. 2024 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(23.076-0)/77.197
=0.30

* 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.


Global Crossing Airlines Group  (NEOE:JET) 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.


Global Crossing Airlines Group Quick Ratio Related Terms

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Global Crossing Airlines Group Business Description

Traded in Other Exchanges
Address
4200 NW 36th Street, Building 5A, Miami International Airport, Miami, FL, USA, 33166
Global Crossing Airlines Group Inc is an airline operator for both narrow and widebody aircraft around the world, utilizing the efficiencies of an Airbus A320/321 fleet. The company operates wet lease and ACMI flights for airlines and charter operations for tour operators, professional and college teams, and other groups.
Executives
Edward Wegel Director, Senior Officer
Ryan Goepel Director, Senior Officer

Global Crossing Airlines Group Headlines

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