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Galway Metals Quick Ratio

: 3.26 (As of Jun. 2021)
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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. Galway Metals's quick ratio for the quarter that ended in Jun. 2021 was 3.26.

Galway Metals has a quick ratio of 3.26. It generally indicates good short-term financial strength.

The historical rank and industry rank for Galway Metals's Quick Ratio or its related term are showing as below:

OTCPK:GAYMF' s Quick Ratio Range Over the Past 10 Years
Min: 3.26   Med: 26.47   Max: 118.16
Current: 3.26

3.26
118.16

During the past 9 years, Galway Metals's highest Quick Ratio was 118.16. The lowest was 3.26. And the median was 26.47.

OTCPK:GAYMF's Quick Ratio is ranked higher than
52% of the 2437 Companies
in the Metals & Mining industry.

( Industry Median: 2.95 vs. OTCPK:GAYMF: 3.26 )

Galway Metals Quick Ratio Historical Data

The historical data trend for Galway Metals'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.

Galway Metals Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Quick Ratio
Premium Member Only Premium Member Only Premium Member Only Premium Member Only 41.26 8.26 12.21 5.50 3.93

Galway Metals Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Quick Ratio Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.03 4.16 3.93 3.96 3.26

Competitive Comparison

For the Gold subindustry, Galway Metals'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.

   

Galway Metals Quick Ratio Distribution

For the Metals & Mining industry and Basic Materials sector, Galway Metals's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Galway Metals's Quick Ratio falls into.



Galway Metals 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.

Galway Metals's Quick Ratio for the fiscal year that ended in Dec. 2020 is calculated as

Quick Ratio (A: Dec. 2020 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(13.312514638145-0)/3.3905847451011
=3.93

Galway Metals's Quick Ratio for the quarter that ended in Jun. 2021 is calculated as

Quick Ratio (Q: Jun. 2021 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(17.589198036007-0)/5.3887070376432
=3.26

* 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.


Galway Metals  (OTCPK:GAYMF) 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.


Galway Metals Quick Ratio Related Terms

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Galway Metals Business Description

Galway Metals logo
Industry
Basic Materials » Metals & Mining NAICS : 212221 SIC : 611
Traded in Other Exchanges
Address
82 Richmond Street East, Suite 200, Toronto, ON, CAN, M5C 1P1
Galway Metals Inc is an exploration-stage company. It is in the process of exploring for, and delineating resources at the Clarence Stream and Estrades gold projects, located in Canada's jurisdictions of New Brunswick and Quebec, respectively. The company's only operating segment is the acquisition, exploration, and development of mineral resource properties. It explores for gold at Clarence Stream and gold, silver, zinc, copper, and lead at Estrades.

Galway Metals Headlines

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