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. Opus Genetics's quick ratio for the quarter that ended in Sep. 2024 was 6.63.
Opus Genetics has a quick ratio of 6.63. It generally indicates good short-term financial strength.
The historical rank and industry rank for Opus Genetics's Quick Ratio or its related term are showing as below:
STU:R3X1'
s Quick Ratio Range Over the Past 10 Years
Min: 0.19 Med: 7.54 Max: 17.79
Current: 6.63
During the past 5 years, Opus Genetics's highest Quick Ratio was 17.79. The lowest was 0.19. And the median was 7.54.
STU:R3X1's Quick Ratio is ranked better than 70.43% of 1498
companies
in the Biotechnology industry
Industry Median: 3.38
vs STU:R3X1: 6.63
Opus Genetics Quick Ratio Historical Data
The historical data trend for Opus Genetics'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 Opus Genetics's Quick Ratio
For the Biotechnology subindustry, Opus Genetics'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.
Opus Genetics's Quick Ratio Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Opus Genetics's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Opus Genetics's Quick Ratio falls into.
Opus Genetics 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.
Opus Genetics's Quick Ratio for the fiscal year that ended in Dec. 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.
Opus Genetics (STU:R3X1) 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.
Opus Genetics Quick Ratio Related Terms
Thank you for viewing the detailed overview of Opus Genetics's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Opus Genetics Inc is a clinical-stage ophthalmic biopharmaceutical company developing therapies to treat patients with inherited retinal diseases (IRDs) and therapies to treat patients with other retinal and refractive disorders. The pipeline includes adeno-associated virus (AAV)-based gene therapies that address mutations in genes that cause different forms of bestrophinopathy, Leber congenital amaurosis (LCA) and retinitis pigmentosa. The pipeline also includes Phentolamine Ophthalmic Solution 0.75%, a non-selective alpha-1 and alpha-2 adrenergic antagonist to reduce pupil size, and APX3330, a novel small-molecule inhibitor of Ref-1 to slow the progression of non-proliferative diabetic retinopathy.
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