Nickel 28 Capital (Nickel 28 Capital) Quick Ratio : 0.92 (As of Oct. 2023)

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What is Nickel 28 Capital 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. Nickel 28 Capital's quick ratio for the quarter that ended in Oct. 2023 was 0.92.

Nickel 28 Capital has a quick ratio of 0.92. It indicates that the company cannot currently fully pay back its current liabilities.

The historical rank and industry rank for Nickel 28 Capital's Quick Ratio or its related term are showing as below:

CONXF' s Quick Ratio Range Over the Past 10 Years
Min: 0.29 Med: 0.54 Max: 1.43
Current: 0.92

During the past 4 years, Nickel 28 Capital's highest Quick Ratio was 1.43. The lowest was 0.29. And the median was 0.54.

CONXF's Quick Ratio is ranked worse than
65.58% of 2679 companies
in the Metals & Mining industry
Industry Median: 1.75 vs CONXF: 0.92

Nickel 28 Capital Quick Ratio Historical Data

The historical data trend for Nickel 28 Capital'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.

Nickel 28 Capital Quick Ratio Chart

Nickel 28 Capital Annual Data

Trend

Dec19

Dec20

Jan22

Jan23

Quick Ratio

1.29

1.43

0.59

0.57

Nickel 28 Capital Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23
Quick Ratio	Get a 7-Day Free Trial											0.45	0.57	0.48	0.33	0.92

Competitive Comparison of Nickel 28 Capital's Quick Ratio

For the Other Industrial Metals & Mining subindustry, Nickel 28 Capital'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.

Nickel 28 Capital's Quick Ratio Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Nickel 28 Capital's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Nickel 28 Capital's Quick Ratio falls into.

Nickel 28 Capital 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.

Nickel 28 Capital's Quick Ratio for the fiscal year that ended in Jan. 2023 is calculated as

Quick Ratio (A: Jan. 2023 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(12.376	-	0)	/	21.66
	=	0.57

Nickel 28 Capital's Quick Ratio for the quarter that ended in Oct. 2023 is calculated as

Quick Ratio (Q: Oct. 2023 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(10.375	-	0)	/	11.263
	=	0.92

Nickel 28 Capital (OTCPK:CONXF) 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.

Nickel 28 Capital Quick Ratio Related Terms

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Nickel 28 Capital (Nickel 28 Capital) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Nickel 28 Capital Corp (OTCPK:CONXF) » Definitions » Quick Ratio

Comparable Companies

Traded in Other Exchanges

3JC:Germany NKL:Canada

Address

155 University Avenue, Suite 1240, Toronto, ON, CAN, M5H 3B7

Website

https://www.nickel28.com

Nickel 28 Capital Corp is a nickel-cobalt producer in Canada. Nickel-cobalt production comes from its joint-venture interest in the Ramu Nickel-Cobalt Operation located in Papua New Guinea provides it with significant attributable nickel and cobalt production thereby offering shareholders direct exposure to two metals that are critical to the adoption of electric vehicles. In addition, the company manages a portfolio of around 13 nickel and cobalt royalties on development and exploration projects in Canada, Australia, and Papua New Guinea.