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. Karoon Energy's quick ratio for the quarter that ended in Dec. 2023 was 1.06.
Karoon Energy has a quick ratio of 1.06. It generally indicates good short-term financial strength.
The historical rank and industry rank for Karoon Energy's Quick Ratio or its related term are showing as below:
KRNGY'
s Quick Ratio Range Over the Past 10 Years
Min: 0.81 Med: 12.35 Max: 50.01
Current: 1.06
During the past 13 years, Karoon Energy's highest Quick Ratio was 50.01. The lowest was 0.81. And the median was 12.35.
KRNGY's Quick Ratio is ranked worse than 52.74% of 1075
companies
in the Oil & Gas industry
Industry Median: 1.11
vs KRNGY: 1.06
Karoon Energy Quick Ratio Historical Data
The historical data trend for Karoon Energy'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.
Competitive Comparison of Karoon Energy's Quick Ratio
For the Oil & Gas E&P subindustry, Karoon Energy'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.
Karoon Energy's Quick Ratio Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Karoon Energy's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Karoon Energy's Quick Ratio falls into.
Karoon Energy 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.
Karoon Energy's Quick Ratio for the fiscal year that ended in Jun. 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.
Karoon Energy (OTCPK:KRNGY) 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.
Karoon Energy Quick Ratio Related Terms
Thank you for viewing the detailed overview of Karoon Energy's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Karoon Energy (Karoon Energy) Business Description
Karoon produces around 8 million barrels of oil annually from its wholly owned Bauna field in Brazil's offshore Santos basin. The company acquired Bauna from Petrobras in 2020 and has been steadily increasing production via well interventions and new developments. Field life is approaching eight years based on proven and probable 2P reserves of 55 million barrels at end December 2022, though this excludes a further 82 million barrels in 2C contingent resources which which have potential to increase life further. We credit life of approximately 10 years, assuming partial conversion of 2C contingent resources into reserve category with drilling. There are also prospective untested targets within Karoon's permits which could potentially add further reserves in the medium term.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
KRNGY has been successfully added to your 