SMIT has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
SMIT has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
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. Schmitt Industries's quick ratio for the quarter that ended in May. 2022 was 0.44.
Schmitt Industries has a quick ratio of 0.44. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Schmitt Industries's Quick Ratio or its related term are showing as below:
The historical data trend for Schmitt Industries'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.
Schmitt Industries Annual Data | |||||||||||||||||||||
Trend | May13 | May14 | May15 | May16 | May17 | May18 | May19 | May20 | May21 | May22 | |||||||||||
Quick Ratio | Get a 7-Day Free Trial | 2.43 | 5.42 | 8.56 | 1.42 | 0.44 |
Schmitt Industries Quarterly Data | ||||||||||||||||||||
Aug17 | Nov17 | Feb18 | May18 | Aug18 | Nov18 | Feb19 | May19 | Aug19 | Nov19 | Feb20 | May20 | Aug20 | Nov20 | Feb21 | May21 | Aug21 | Nov21 | Feb22 | May22 | |
Quick Ratio | Get a 7-Day Free Trial | 1.42 | 0.98 | 1.40 | 0.77 | 0.44 |
For the Scientific & Technical Instruments subindustry, Schmitt Industries'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.
For the Hardware industry and Technology sector, Schmitt Industries's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Schmitt Industries'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.
Schmitt Industries's Quick Ratio for the fiscal year that ended in May. 2022 is calculated as
Quick Ratio (A: May. 2022 ) | = | (Total Current Assets | - | Total Inventories) | / | Total Current Liabilities |
= | (4.006 | - | 1.444) | / | 5.828 | |
= | 0.44 |
Schmitt Industries's Quick Ratio for the quarter that ended in May. 2022 is calculated as
Quick Ratio (Q: May. 2022 ) | = | (Total Current Assets | - | Total Inventories) | / | Total Current Liabilities |
= | (4.006 | - | 1.444) | / | 5.828 | |
= | 0.44 |
* 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.
Schmitt Industries (OTCPK:SMIT) 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.
Thank you for viewing the detailed overview of Schmitt Industries's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Dustin Henderson | other: Shareholder | 11125 N PARK BLVD, STE 106, SEMINOLE FL 33772 |
Kristi Michelle Smaha | director | C/O SCHMITT INDUSTRIES, INC., 2765 N.W. NICOLAI STREET, PORTLAND OR 97210-1818 |
Alexandre Zyngier | director | 5700 W. PLANO PARKWAY, SUITE 3600, PLANO TX 75093 |
Philip Bosco | officer: Chief Financial Officer | 2765 NW NICOLAI STREET, PORTLAND OR 97210 |
Lillian Tung | director | 45 WEST 67TH STREET, 10D, NEW YORK NY 10023 |
Michael R. Zapata | officer: Chief Executive Officer | 2765 NW NICOLAI STREET, PORTLAND OR 97210 |
Andrews P Hines | director | |
Steven Strom | director | 2765 NW NICOLAI STREET, PORTLAND OR 97210 |
Charles Davidson | director | C/O SCHMITT INDUSTRIES, INC., 2765 N.W. NICOLAI STREET, PORTLAND OR 97210 |
Jamie Michael Schmidt | officer: Chief Financial Officer | 2765 NW NICOLAI STREET, PORTLAND OR 97210 |
Walter Brown Pistor | 10 percent owner | 2415 KALAMA RIVER ROAD, KALAMA WA 98625 |
Regina Walker | officer: Chief Financial Officer | 2765 NW NICOLAI STREET, PORTLAND OR 97210 |
Michael Ellsworth | director | SCHMITT INDUSTRIES, INC., 2765 NW NICOLAI, PORTLAND OR 97210 |
David Hudson | director | SCHMITT INDUSTRIES, INC., 2765 NW NICOLAI, PORTLAND OR 97210 |
Maynard E Brown | director | 1595 - 19TH STREET, WEST VANCOUVER A1 V7V 3X5 |
From GuruFocus
By Value_Insider Value_Insider • 12-07-2022
By PRNewswire PRNewswire • 12-19-2022
By PRNewswire PRNewswire • 11-30-2022
By PRNewswire PRNewswire • 12-12-2022
By Value_Insider Value_Insider • 11-29-2022
By PRNewswire PRNewswire • 11-23-2022
By Value_Insider Value_Insider • 11-18-2022
By Value_Insider Value_Insider • 12-07-2022
By PRNewswire PRNewswire • 12-09-2022
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.