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Canstar Resources (TSXV:ROX) Quick Ratio : 3.63 (As of Sep. 2024)


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What is Canstar Resources 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. Canstar Resources's quick ratio for the quarter that ended in Sep. 2024 was 3.63.

Canstar Resources has a quick ratio of 3.63. It generally indicates good short-term financial strength.

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

TSXV:ROX' s Quick Ratio Range Over the Past 10 Years
Min: 0.42   Med: 3.96   Max: 27.26
Current: 3.63

During the past 13 years, Canstar Resources's highest Quick Ratio was 27.26. The lowest was 0.42. And the median was 3.96.

TSXV:ROX's Quick Ratio is ranked better than
68.7% of 2655 companies
in the Metals & Mining industry
Industry Median: 1.52 vs TSXV:ROX: 3.63

Canstar Resources Quick Ratio Historical Data

The historical data trend for Canstar Resources'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.

Canstar Resources Quick Ratio Chart

Canstar Resources Annual Data
Trend Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24
Quick Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.40 15.16 27.26 3.35 4.88

Canstar Resources 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 4.19 2.47 4.95 4.88 3.63

Competitive Comparison of Canstar Resources's Quick Ratio

For the Other Industrial Metals & Mining subindustry, Canstar Resources'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.


Canstar Resources's Quick Ratio Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Canstar Resources's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Canstar Resources's Quick Ratio falls into.



Canstar Resources 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.

Canstar Resources's Quick Ratio for the fiscal year that ended in Jun. 2024 is calculated as

Quick Ratio (A: Jun. 2024 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(0.576-0)/0.118
=4.88

Canstar Resources'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
=(0.258-0)/0.071
=3.63

* 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.


Canstar Resources  (TSXV:ROX) 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.


Canstar Resources Quick Ratio Related Terms

Thank you for viewing the detailed overview of Canstar Resources's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


Canstar Resources Business Description

Traded in Other Exchanges
Address
220 Bay Street, Suite 550, Toronto, ON, CAN, M5J 2W4
Canstar Resources Inc is focused on creating shareholder value through the discovery and development of economic mineral deposits in Newfoundland and Labrador, Canada. The company has interest in the Golden Baie Project in south-central Newfoundland and Buchans-Mary March project and other mineral exploration properties in Newfoundland.
Executives
John Paul Austin Director
Juan Carlos Giron Jr Senior Officer
Robert John Bruggeman Director
Sam Yee Cheng Leung Director
Christian Peter Kargl-simard 10% Security Holder
Christos Doulis Senior Officer

Canstar Resources Headlines

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