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TrackX Holdings (TSXV:TKX.H) Quick Ratio : 0.35 (As of Jun. 2022)


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What is TrackX Holdings 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. TrackX Holdings's quick ratio for the quarter that ended in Jun. 2022 was 0.35.

TrackX Holdings has a quick ratio of 0.35. It indicates that the company cannot currently fully pay back its current liabilities.

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

TSXV:TKX.H's Quick Ratio is not ranked *
in the Software industry.
Industry Median: 1.65
* Ranked among companies with meaningful Quick Ratio only.

TrackX Holdings Quick Ratio Historical Data

The historical data trend for TrackX Holdings'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.

TrackX Holdings Quick Ratio Chart

TrackX Holdings Annual Data
Trend Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21
Quick Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.15 1.33 0.22 0.16 0.46

TrackX Holdings Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
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 0.66 0.46 0.46 0.38 0.35

Competitive Comparison of TrackX Holdings's Quick Ratio

For the Software - Application subindustry, TrackX Holdings'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.


TrackX Holdings's Quick Ratio Distribution in the Software Industry

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

* The bar in red indicates where TrackX Holdings's Quick Ratio falls into.



TrackX Holdings 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.

TrackX Holdings's Quick Ratio for the fiscal year that ended in Sep. 2021 is calculated as

Quick Ratio (A: Sep. 2021 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(1.263-0)/2.77
=0.46

TrackX Holdings's Quick Ratio for the quarter that ended in Jun. 2022 is calculated as

Quick Ratio (Q: Jun. 2022 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(1.227-0)/3.518
=0.35

* 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.


TrackX Holdings  (TSXV:TKX.H) 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.


TrackX Holdings Quick Ratio Related Terms

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TrackX Holdings (TSXV:TKX.H) Business Description

Traded in Other Exchanges
N/A
Address
800 West Pender Street, Suite 1430, Vancouver, BC, CAN, V6C 2V6
TrackX Holdings Inc provides cloud-based, asset tracking solutions for supply chain and logistics-intensive businesses. Its platform combines support for multiple auto-identification (ID) technologies, workflow, event management, alert notifications, and analytics. The company solutions include high-value asset tracking, yard management, returnable asset management, manufacturing process tracking, and supply chain management, and mobile inventory management solutions. It delivers services to various industries, including transportation, government, healthcare, hi-tech, hospitality, mining, beverage, agriculture, and horticulture. Its operations are primarily conducted in the United States.

TrackX Holdings (TSXV:TKX.H) Headlines

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