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. Photronics's quick ratio for the quarter that ended in Apr. 2022 was 3.07.
Photronics has a quick ratio of 3.07. It generally indicates good short-term financial strength.
The historical rank and industry rank for Photronics's Quick Ratio or its related term are showing as below:
PLAB'
s Quick Ratio Range Over the Past 10 Years
Min: 0.88 Med: 2.48 Max: 6.02
Current: 3.07
During the past 13 years, Photronics's highest Quick Ratio was 6.02. The lowest was 0.88. And the median was 2.48.
PLAB's Quick Ratio is ranked better than 74.59% of 917
companies
in the Semiconductors industry
Industry Median: 1.74
vs PLAB: 3.07
Photronics Quick Ratio Historical Data
The historical data trend for Photronics'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.
Photronics Annual Data
Trend
Oct12
Oct13
Oct14
Oct15
Oct16
Oct17
Oct18
Oct19
Oct20
Oct21
Quick Ratio
5.20
2.48
2.50
3.10
2.81
Photronics Quarterly Data
Jul17
Oct17
Jan18
Apr18
Jul18
Oct18
Jan19
Apr19
Jul19
Oct19
Jan20
Apr20
Jul20
Oct20
Jan21
Apr21
Jul21
Oct21
Jan22
Apr22
Quick Ratio
2.76
2.85
2.81
2.80
3.07
Competitive Comparison
For the Semiconductor Equipment & Materials subindustry, Photronics'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.
Photronics Quick Ratio Distribution
For the Semiconductors industry and Technology sector, Photronics's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Photronics's Quick Ratio falls into.
Photronics 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.
Photronics's Quick Ratio for the fiscal year that ended in Oct. 2021 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.
Photronics (NAS:PLAB) 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.
Photronics Quick Ratio Related Terms
Thank you for viewing the detailed overview of Photronics's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Photronics is a U.S.-based company that is principally engaged in manufacturing photomasks. The photomasks are photographic quartz plates that contain microscopic images of electronic circuits that are used as a component in the manufacture of integrated circuits and flat-panel displays. The revenue from products designed for integrated circuits production accounts for the majority of total revenue, with the rest derived from products for flat-panel display production. The company's assets are located in Taiwan, Korea, and the United States. It generates revenue worldwide, including the United States, Europe, Taiwan, Korea, China, and elsewhere in Asia, with Asia contributing the majority of total revenue.
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