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. Mr. Cooper Group's quick ratio for the quarter that ended in Dec. 2023 was 0.42.
Mr. Cooper Group has a quick ratio of 0.42. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Mr. Cooper Group's Quick Ratio or its related term are showing as below:
COOP'
s Quick Ratio Range Over the Past 10 Years
Min: 0.42 Med: 1.7 Max: 105.42
Current: 0.42
During the past 13 years, Mr. Cooper Group's highest Quick Ratio was 105.42. The lowest was 0.42. And the median was 1.70.
COOP's Quick Ratio is ranked worse than 86.96% of 46
companies
in the Banks industry
Industry Median: 3.1
vs COOP: 0.42
Mr. Cooper Group Quick Ratio Historical Data
The historical data trend for Mr. Cooper Group'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.
Mr. Cooper Group Annual Data
Trend
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Quick Ratio
1.70
0.69
0.90
0.47
0.42
Mr. Cooper Group Quarterly Data
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Sep22
Dec22
Mar23
Jun23
Sep23
Dec23
Quick Ratio
0.47
0.46
0.45
0.43
0.42
Competitive Comparison
For the Mortgage Finance subindustry, Mr. Cooper Group'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.
Mr. Cooper Group Quick Ratio Distribution
For the Banks industry and Financial Services sector, Mr. Cooper Group's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Mr. Cooper Group's Quick Ratio falls into.
Mr. Cooper Group 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.
Mr. Cooper Group'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.
Mr. Cooper Group (NAS:COOP) 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.
Mr. Cooper Group Quick Ratio Related Terms
Thank you for viewing the detailed overview of Mr. Cooper Group's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Mr. Cooper Group (Mr. Cooper Group) Business Description
Mr. Cooper Group Inc is a home loan servicer. The company focuses on delivering a variety of servicing and lending products. It has two operating segments namely Servicing segment which performs operational activities on behalf of investors or owners of the underlying mortgages and mortgage servicing rights, including collecting and disbursing borrower payments, investor reporting, and customer service and The Originations segment originates residential mortgage loans through a direct-to-consumer channel, which provides refinance options for existing customers, and through a correspondent channel, which purchases or originates loans from mortgage bankers and brokers.
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