Enova International has a quick ratio of 21.07. It generally indicates good short-term financial strength.
The historical rank and industry rank for Enova International's Quick Ratio or its related term are showing as below:
ENVA'
s Quick Ratio Range Over the Past 10 Years
Min: 5.93 Med: 12.42 Max: 21.07
Current: 21.07
During the past 13 years, Enova International's highest Quick Ratio was 21.07. The lowest was 5.93. And the median was 12.42.
ENVA's Quick Ratio is ranked better than 65.21% of 388
companies
in the Credit Services industry
Industry Median: 4.145
vs ENVA: 21.07
Enova International Quick Ratio Historical Data
The historical data trend for Enova International'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 Enova International's Quick Ratio
For the Credit Services subindustry, Enova International'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.
Enova International's Quick Ratio Distribution in the Credit Services Industry
For the Credit Services industry and Financial Services sector, Enova International's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Enova International's Quick Ratio falls into.
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.
Enova International's Quick Ratio for the fiscal year that ended in Dec. 2024 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.
Enova International (NYSE:ENVA) 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.
Enova International Quick Ratio Related Terms
Thank you for viewing the detailed overview of Enova International's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Enova International Inc provides online financial services, including short-term consumer loans, line of credit accounts, and installment loans to customers mainly in the United States and and Brazil. Consumers apply for credit online, the company's technology platforms process the applications, and transactions are completed quickly and efficiently. Its customers are predominantly retail consumers and small businesses. Enova markets its financing products under the names CashNetUSA, NetCredit, OnDeck, Headway Capital, and Simplic. The company also operates a money transfer platform under the name Pangea. Geographically, the company generates a majority of its revenue from its business in the United States and the rest from other international countries.
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