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Nanjing Hanrui Cobalt Co (SZSE:300618) Quick Ratio : 0.99 (As of Sep. 2024)


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What is Nanjing Hanrui Cobalt 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. Nanjing Hanrui Cobalt Co's quick ratio for the quarter that ended in Sep. 2024 was 0.99.

Nanjing Hanrui Cobalt Co has a quick ratio of 0.99. It indicates that the company cannot currently fully pay back its current liabilities.

The historical rank and industry rank for Nanjing Hanrui Cobalt Co's Quick Ratio or its related term are showing as below:

SZSE:300618' s Quick Ratio Range Over the Past 10 Years
Min: 0.55   Med: 1.15   Max: 2.21
Current: 0.99

During the past 12 years, Nanjing Hanrui Cobalt Co's highest Quick Ratio was 2.21. The lowest was 0.55. And the median was 1.15.

SZSE:300618's Quick Ratio is ranked worse than
60.36% of 2654 companies
in the Metals & Mining industry
Industry Median: 1.52 vs SZSE:300618: 0.99

Nanjing Hanrui Cobalt Co Quick Ratio Historical Data

The historical data trend for Nanjing Hanrui Cobalt 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.

Nanjing Hanrui Cobalt Co Quick Ratio Chart

Nanjing Hanrui Cobalt 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 0.71 1.80 1.12 1.51 1.09

Nanjing Hanrui Cobalt Co Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 1.42 1.09 1.15 0.90 0.99

Competitive Comparison of Nanjing Hanrui Cobalt Co's Quick Ratio

For the Copper subindustry, Nanjing Hanrui Cobalt 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.


Nanjing Hanrui Cobalt Co's Quick Ratio Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Nanjing Hanrui Cobalt Co's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Nanjing Hanrui Cobalt Co's Quick Ratio falls into.



Nanjing Hanrui Cobalt 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.

Nanjing Hanrui Cobalt 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
=(4353.226-1872.896)/2271.996
=1.09

Nanjing Hanrui Cobalt Co's Quick Ratio for the quarter that ended in Sep. 2024 is calculated as

Quick Ratio (Q: Sep. 2024 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(5014.041-1993.913)/3065.496
=0.99

* 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.


Nanjing Hanrui Cobalt Co  (SZSE:300618) 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.


Nanjing Hanrui Cobalt Co Quick Ratio Related Terms

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Nanjing Hanrui Cobalt Co Business Description

Traded in Other Exchanges
N/A
Address
No. 115, Jinghuai Street, Jiangning Economic and Technological Development Zone, Jiangsu Province, Nanjing, CHN, 211100
Nanjing Hanrui Cobalt Co Ltd is a China-based company engaged in the extraction of cobalt and copper ore. The business activities of the group include development and deep processing of cobalt and copper mineral resources and forming an integrated industrial chain from mineral resources development and smelting the same to produce cobalt intermediate products and cobalt powder which guarantee the stable supply of resources. Geographically the group holds a marketing network in multiple countries and regions including South Korea, Japan, Germany, Switzerland, Israel, India, and the USA.
Executives
Liang Jie Directors, executives
Liang Jian Kun Director

Nanjing Hanrui Cobalt Co Headlines

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