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Mitek Systems (STU:MKQ) Quick Ratio : 4.46 (As of Jun. 2024)


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What is Mitek Systems 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. Mitek Systems's quick ratio for the quarter that ended in Jun. 2024 was 4.46.

Mitek Systems has a quick ratio of 4.46. It generally indicates good short-term financial strength.

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

STU:MKQ' s Quick Ratio Range Over the Past 10 Years
Min: 1.79   Med: 3.88   Max: 8.43
Current: 4.46

During the past 13 years, Mitek Systems's highest Quick Ratio was 8.43. The lowest was 1.79. And the median was 3.88.

STU:MKQ's Quick Ratio is ranked better than
86.04% of 2823 companies
in the Software industry
Industry Median: 1.64 vs STU:MKQ: 4.46

Mitek Systems Quick Ratio Historical Data

The historical data trend for Mitek Systems'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.

Mitek Systems Quick Ratio Chart

Mitek Systems Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Quick Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.70 3.45 5.20 2.84 3.69

Mitek Systems Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
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 3.32 3.69 4.70 4.27 4.46

Competitive Comparison of Mitek Systems's Quick Ratio

For the Software - Application subindustry, Mitek Systems'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.


Mitek Systems's Quick Ratio Distribution in the Software Industry

For the Software industry and Technology sector, Mitek Systems's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Mitek Systems's Quick Ratio falls into.



Mitek Systems 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.

Mitek Systems's Quick Ratio for the fiscal year that ended in Sep. 2023 is calculated as

Quick Ratio (A: Sep. 2023 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(178.038-0)/48.253
=3.69

Mitek Systems's Quick Ratio for the quarter that ended in Jun. 2024 is calculated as

Quick Ratio (Q: Jun. 2024 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(181.79-0)/40.791
=4.46

* 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.


Mitek Systems  (STU:MKQ) 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.


Mitek Systems Quick Ratio Related Terms

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Mitek Systems Business Description

Traded in Other Exchanges
Address
600 B Street, Suite 100, San Diego, CA, USA, 92101
Mitek Systems Inc is engaged in the development, sale, and service of proprietary software solutions related to mobile imaging. The firm is a software development company with expertise in artificial intelligence, and machine learning. It is serving more than 7,800 financial services organizations and leading marketplace and financial technology brands across the globe. Mitek's Mobile Deposit solution is used by consumers for mobile check deposits. The company's Mobile Verify verifies a user's identity online enabling organizations to build safer digital communities, whereas CheckReader enables financial institutions to automatically extract data from a check image received across any deposit channel - branch, ATM, RDC, and mobile.

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