PJET (Priority Aviation) Quick Ratio: 0.01 (As of Jun. 2011)


What is Priority Aviation Quick Ratio?

Priority Aviation PJET -99.00% Quick Ratio is 0.01 as of Jun. 2011.

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. Priority Aviation's quick ratio for the quarter that ended in Jun. 2011 was 0.01.

Priority Aviation has a quick ratio of 0.01. It indicates that the company cannot currently fully pay back its current liabilities.

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

PJET's Quick Ratio is not ranked *
in the Drug Manufacturers industry.
Industry Median: 1.45
* Ranked among companies with meaningful Quick Ratio only.

Priority Aviation  (OTCPK:PJET) 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.

Priority Aviation Quick Ratio Related Terms

Priority Aviation Quick Ratio Historical Data

* Premium members only.

The historical data trend for Priority Aviation'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.

Priority Aviation Quick Ratio Chart

Priority Aviation Annual Data
Trend Dec05 Dec06 Dec07 Dec08 Dec09 Dec10
Quick Ratio
Get a 7-Day Free Trial 0.00 0.00 0.00 0.03 0.00

Priority Aviation Quarterly Data
Sep06 Dec06 Mar07 Jun07 Sep07 Dec07 Mar08 Jun08 Sep08 Dec08 Mar09 Jun09 Sep09 Dec09 Mar10 Jun10 Sep10 Dec10 Mar11 Jun11
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 0.02 0.02 0.00 0.02 0.01

PJET vs PHIIQ, SKAS: Quick Ratio Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Priority Aviation'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.

Priority Aviation Quick Ratio vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Priority Aviation's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Priority Aviation's Quick Ratio falls into.


Priority Aviation 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.

Priority Aviation's Quick Ratio for the fiscal year that ended in Dec. 2010 is calculated as

Quick Ratio (A: Dec. 2010 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(0.032-0)/9.324
=0.00

Priority Aviation's Quick Ratio for the quarter that ended in Jun. 2011 is calculated as

Quick Ratio (Q: Jun. 2011 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(0.072-0)/9.053
=0.01

* 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.

Frequently Asked Questions Learn more about Quick Ratio →
What does a Quick Ratio of 0.01 mean?
Priority Aviation (PJET) has a Quick Ratio of 0.01 as of Jun. 2011. Quick ratio is the ratio of current assets less inventory to current liabilities. View historical data on Priority Aviation and its competitors.
Is Priority Aviation's Quick Ratio too high?
Priority Aviation's current Quick Ratio is 0.01. The Drug Manufacturers industry median Quick Ratio is 1.45. Priority Aviation's value of 0.01 is 99.3% below this industry median.
How does Priority Aviation's Quick Ratio compare to PHIIQ and SKAS?
Priority Aviation's Quick Ratio of 0.01 can be compared against companies in the Drug Manufacturers industry. The industry median Quick Ratio is 1.45. Priority Aviation's value of 0.01 is 99.3% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Quick Ratio for a Drug Manufacturers company?
The median Quick Ratio among Drug Manufacturers companies is 1.45, based on 994 companies in the industry. Companies in the top quartile (top 25%) have a Quick Ratio significantly above this median, while those in the bottom quartile fall well below. However, Quick Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Priority Aviation's current Quick Ratio of 0.01 is 99.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Quick Ratio mean?
A high Quick Ratio can signal that a stock is expensive relative to its fundamentals. Quick ratio is the ratio of current assets less inventory to current liabilities. View historical data on Priority Aviation and its competitors. For the Drug Manufacturers industry, the median Quick Ratio is 1.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Priority Aviation's current Quick Ratio is 0.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Priority Aviation stock overvalued right now?
Priority Aviation (PJET) has a current Quick Ratio of 0.01. The current Quick Ratio is 0.01 and 99.3% below the Drug Manufacturers industry median of 1.45. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Quick Ratio calculated?
Quick Ratio is calculated from a company's financial statements. For Priority Aviation (PJET), the current Quick Ratio is 0.01 as of Jun. 2011. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Priority Aviation Business Description

Address 14333 Preston Road, Suite 904, Dallas, TX, USA, 75254
Priority Aviation Inc is working to develop the business model acquired from THC - designer bong waters. The Company is also marketing the waters to a variety of wholesale and retail outlets.