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. Clover Health Investments's quick ratio for the quarter that ended in Dec. 2023 was 1.64.
Clover Health Investments has a quick ratio of 1.64. It generally indicates good short-term financial strength.
The historical rank and industry rank for Clover Health Investments's Quick Ratio or its related term are showing as below:
CLOV'
s Quick Ratio Range Over the Past 10 Years
Min: 1.16 Med: 1.55 Max: 2.02
Current: 1.64
During the past 5 years, Clover Health Investments's highest Quick Ratio was 2.02. The lowest was 1.16. And the median was 1.55.
CLOV's Quick Ratio is ranked better than 64.71% of 17
companies
in the Healthcare Plans industry
Industry Median: 1.24
vs CLOV: 1.64
Clover Health Investments Quick Ratio Historical Data
The historical data trend for Clover Health Investments'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.
Clover Health Investments Annual Data
Trend
Dec19
Dec20
Dec21
Dec22
Dec23
Quick Ratio
-
1.16
2.02
1.45
1.64
Clover Health Investments Quarterly Data
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Sep22
Dec22
Mar23
Jun23
Sep23
Dec23
Quick Ratio
1.45
1.15
1.24
1.27
1.64
Competitive Comparison
For the Healthcare Plans subindustry, Clover Health Investments'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.
Clover Health Investments Quick Ratio Distribution
For the Healthcare Plans industry and Healthcare sector, Clover Health Investments's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Clover Health Investments's Quick Ratio falls into.
Clover Health Investments 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.
Clover Health Investments'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.
Clover Health Investments (NAS:CLOV) 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.
Clover Health Investments Quick Ratio Related Terms
Thank you for viewing the detailed overview of Clover Health Investments's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Clover Health Investments (Clover Health Investments) Business Description
Clover Health Investments Corp is a healthcare technology company. It uses its proprietary technology platform to collect, structure, & analyze health & behavioral data to improve medical outcomes & lower costs for patients. The Group has two operating segments. The insurance segment provides PPO(Preferred provider Organization) & HMO(Health Maintenance Organization) plans to Medicare Advantage members in several states & seeks to improve care & lower costs which generally provide access to a wide network of primary care providers, specialists, & hospitals. Non-insurance segment includes the Company's operations relating to CMS' DC (Direct Contracting) Model, which provides options aimed at reducing expenditures & preserving or enhancing the quality of care for beneficiaries.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
CLOV has been successfully added to your 