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. Cogent Biosciences's quick ratio for the quarter that ended in Dec. 2023 was 7.09.
Cogent Biosciences has a quick ratio of 7.09. It generally indicates good short-term financial strength.
The historical rank and industry rank for Cogent Biosciences's Quick Ratio or its related term are showing as below:
COGT'
s Quick Ratio Range Over the Past 10 Years
Min: 3.06 Med: 7.54 Max: 18.7
Current: 7.09
During the past 9 years, Cogent Biosciences's highest Quick Ratio was 18.70. The lowest was 3.06. And the median was 7.54.
COGT's Quick Ratio is ranked better than 72.97% of 1554
companies
in the Biotechnology industry
Industry Median: 3.595
vs COGT: 7.09
Cogent Biosciences Quick Ratio Historical Data
The historical data trend for Cogent Biosciences'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.
Cogent Biosciences Annual Data
Trend
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Quick Ratio
3.06
18.70
13.04
9.87
7.09
Cogent Biosciences Quarterly Data
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Sep22
Dec22
Mar23
Jun23
Sep23
Dec23
Quick Ratio
9.87
10.71
12.99
8.24
7.09
Competitive Comparison
For the Biotechnology subindustry, Cogent Biosciences'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.
Cogent Biosciences Quick Ratio Distribution
For the Biotechnology industry and Healthcare sector, Cogent Biosciences's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Cogent Biosciences's Quick Ratio falls into.
Cogent Biosciences 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.
Cogent Biosciences'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.
Cogent Biosciences (NAS:COGT) 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.
Cogent Biosciences Quick Ratio Related Terms
Thank you for viewing the detailed overview of Cogent Biosciences's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Cogent Biosciences (Cogent Biosciences) Business Description
Cogent Biosciences Inc a biotechnology company focused on developing precision therapies for genetically defined diseases. It designs rational precision therapies that treat the underlying cause of disease and improve the lives of patients. Its program CGT9486, is a selective tyrosine kinase inhibitor designed to potently inhibit the KIT D816V mutation as well as other mutations in KIT exon 17. In the vast majority of cases, KIT D816V is responsible for driving Systemic Mastocytosis (SM), a serious disease caused by the unchecked proliferation of mast cells. Exon 17 mutations are also found in patients with advanced gastrointestinal stromal tumors (GIST), a type of cancer with strong dependence on oncogenic KIT signaling.
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