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Zhejiang Red Dragonfly Footwear Co (SHSE:603116) Quick Ratio : 2.10 (As of Mar. 2024)


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What is Zhejiang Red Dragonfly Footwear Co 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. Zhejiang Red Dragonfly Footwear Co's quick ratio for the quarter that ended in Mar. 2024 was 2.10.

Zhejiang Red Dragonfly Footwear Co has a quick ratio of 2.10. It generally indicates good short-term financial strength.

The historical rank and industry rank for Zhejiang Red Dragonfly Footwear Co's Quick Ratio or its related term are showing as below:

SHSE:603116' s Quick Ratio Range Over the Past 10 Years
Min: 0.98   Med: 2.32   Max: 2.99
Current: 2.1

During the past 13 years, Zhejiang Red Dragonfly Footwear Co's highest Quick Ratio was 2.99. The lowest was 0.98. And the median was 2.32.

SHSE:603116's Quick Ratio is ranked better than
77.62% of 1077 companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 1.06 vs SHSE:603116: 2.10

Zhejiang Red Dragonfly Footwear Co Quick Ratio Historical Data

The historical data trend for Zhejiang Red Dragonfly Footwear Co'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.

Zhejiang Red Dragonfly Footwear Co Quick Ratio Chart

Zhejiang Red Dragonfly Footwear Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Quick Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.20 2.20 2.41 2.02 2.13

Zhejiang Red Dragonfly Footwear Co Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 2.17 1.83 1.92 2.13 2.10

Competitive Comparison of Zhejiang Red Dragonfly Footwear Co's Quick Ratio

For the Footwear & Accessories subindustry, Zhejiang Red Dragonfly Footwear 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.


Zhejiang Red Dragonfly Footwear Co's Quick Ratio Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Zhejiang Red Dragonfly Footwear Co's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Zhejiang Red Dragonfly Footwear Co's Quick Ratio falls into.



Zhejiang Red Dragonfly Footwear 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.

Zhejiang Red Dragonfly Footwear Co'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
=(2864.68-494.207)/1111.802
=2.13

Zhejiang Red Dragonfly Footwear Co's Quick Ratio for the quarter that ended in Mar. 2024 is calculated as

Quick Ratio (Q: Mar. 2024 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(2943.368-465.344)/1178.184
=2.10

* 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.


Zhejiang Red Dragonfly Footwear Co  (SHSE:603116) 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.


Zhejiang Red Dragonfly Footwear Co Quick Ratio Related Terms

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Zhejiang Red Dragonfly Footwear Co (SHSE:603116) Business Description

Traded in Other Exchanges
N/A
Address
Wangjiatun Road, Dongpu Industrial Zone, Yubei Town, Yongjia County, Zhejiang, Wenzhou, CHN, 325102
Zhejiang Red Dragonfly Footwear Co Ltd is engaged in research and development, production and sale of Red Dragonfly brand shoes and leather goods, clothing and other industry. The company main products include men's and women's shoes, children's shoes and apparels, leather belts, wallets, and leather handbags, among others.
Executives
Qian Jin Bo Director
Wang Jian Bin Director
Zhang Shao Bin Directors, senior managers
Xue Xia senior management
Fang Xuan Ping Director
Chen Ming Hai Director
Xu Zhi Hong senior management
Jin Yin Kuan Director
Dong Zhong Wu senior management
Xu Wei senior management
Qian Xiu Fen senior management
Chen Man Cang Supervisors

Zhejiang Red Dragonfly Footwear Co (SHSE:603116) Headlines

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