Altitude Acquisition (Altitude Acquisition) Quick Ratio : 0.01 (As of Sep. 2023)

Altitude Acquisition Quick Ratio Chart

Altitude Acquisition Quarterly Data
	Aug20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Quick Ratio	Get a 7-Day Free Trial								0.03	-	0.04	0.05	0.01

Competitive Comparison of Altitude Acquisition's Quick Ratio

For the Shell Companies subindustry, Altitude Acquisition'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.

Altitude Acquisition's Quick Ratio Distribution in the Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, Altitude Acquisition's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Altitude Acquisition's Quick Ratio falls into.

Altitude Acquisition 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.

Altitude Acquisition's Quick Ratio for the fiscal year that ended in Dec. 2022 is calculated as

Altitude Acquisition's Quick Ratio for the quarter that ended in Sep. 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.

Altitude Acquisition  (NAS:ALTU) 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.

Altitude Acquisition Quick Ratio Related Terms

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Altitude Acquisition (Altitude Acquisition) Business Description