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. Medx Health's quick ratio for the quarter that ended in Sep. 2024 was 0.05.
Medx Health has a quick ratio of 0.05. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Medx Health's Quick Ratio or its related term are showing as below:
TSXV:MDX'
s Quick Ratio Range Over the Past 10 Years
Min: 0.03 Med: 0.07 Max: 1.64
Current: 0.05
During the past 13 years, Medx Health's highest Quick Ratio was 1.64. The lowest was 0.03. And the median was 0.07.
TSXV:MDX's Quick Ratio is ranked worse than 98.28% of 872
companies
in the Medical Devices & Instruments industry
Industry Median: 1.915
vs TSXV:MDX: 0.05
Medx Health Quick Ratio Historical Data
The historical data trend for Medx Health'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 Medx Health's Quick Ratio
For the Medical Devices subindustry, Medx Health'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.
Medx Health's Quick Ratio Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Medx Health's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Medx Health's Quick Ratio falls into.
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.
Medx Health'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.
Medx Health (TSXV:MDX) 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.
Medx Health Quick Ratio Related Terms
Thank you for viewing the detailed overview of Medx Health's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Medx Health Corp is engaged in the development, manufacturing, and marketing of skin-related screening tools and phototherapy devices for pain relief and tissue repair. Its two main product lines are; SIAscopy, a medical device technology that is used to scan skin for suspicious moles and lesions; and Phototherapeutic medical devices, which use light energy in lower-level laser and LED to provide effective treatment of pain and tissue damage in the rehabilitation market. It derives key revenue from the sale of Phototherapeutic lasers. The company sells its products internationally, of which prime revenue is generated in Canada and the United States.
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