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. New Age Metals's quick ratio for the quarter that ended in Jan. 2024 was 5.39.
New Age Metals has a quick ratio of 5.39. It generally indicates good short-term financial strength.
The historical rank and industry rank for New Age Metals's Quick Ratio or its related term are showing as below:
NMTLF'
s Quick Ratio Range Over the Past 10 Years
Min: 2.38 Med: 19.57 Max: 79.2
Current: 5.39
During the past 13 years, New Age Metals's highest Quick Ratio was 79.20. The lowest was 2.38. And the median was 19.57.
NMTLF's Quick Ratio is ranked better than 74.01% of 2678
companies
in the Metals & Mining industry
Industry Median: 1.71
vs NMTLF: 5.39
New Age Metals Quick Ratio Historical Data
The historical data trend for New Age Metals'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 New Age Metals's Quick Ratio
For the Other Industrial Metals & Mining subindustry, New Age Metals'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.
New Age Metals's Quick Ratio Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, New Age Metals's Quick Ratio distribution charts can be found below:
* The bar in red indicates where New Age Metals's Quick Ratio falls into.
New Age Metals 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.
New Age Metals's Quick Ratio for the fiscal year that ended in Apr. 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.
New Age Metals (OTCPK:NMTLF) 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.
New Age Metals Quick Ratio Related Terms
Thank you for viewing the detailed overview of New Age Metals's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
New Age Metals (New Age Metals) Business Description
New Age Metals Inc is a green metal, mineral exploration and development company. The company has two divisions, each engaged in the process of acquiring, exploring and developing Platinum Group Metal (PGM) and Lithium projects. Geographically, it operates in Canada and USA, out of which the majority of its revenue is from Canada. Its project includes the palladium projects in North America - its flagship River Valley PGM Project (near Sudbury, Ontario), Genesis PGM-Cu-Ni Project (Alaska) and seven Lithium projects (Manitoba).
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