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. Top 10 Split Trust's quick ratio for the quarter that ended in Dec. 2023 was 0.15.
Top 10 Split Trust has a quick ratio of 0.15. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Top 10 Split Trust's Quick Ratio or its related term are showing as below:
TSX:TXT.UN'
s Quick Ratio Range Over the Past 10 Years
Min: 0.15 Med: 1.15 Max: 39.71
Current: 0.15
During the past 9 years, Top 10 Split Trust's highest Quick Ratio was 39.71. The lowest was 0.15. And the median was 1.15.
TSX:TXT.UN's Quick Ratio is ranked worse than 96.92% of 682
companies
in the Asset Management industry
Industry Median: 2.78
vs TSX:TXT.UN: 0.15
Top 10 Split Trust Quick Ratio Historical Data
The historical data trend for Top 10 Split Trust'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.
Top 10 Split Trust Annual Data
Trend
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Quick Ratio
0.43
1.06
2.57
1.06
0.15
Top 10 Split Trust Semi-Annual Data
Jun15
Dec15
Jun16
Dec16
Jun17
Dec17
Jun18
Dec18
Jun19
Dec19
Jun20
Dec20
Jun21
Dec21
Jun22
Dec22
Jun23
Dec23
Quick Ratio
2.57
1.65
1.06
14.86
0.15
Competitive Comparison
For the Asset Management subindustry, Top 10 Split Trust'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.
Top 10 Split Trust Quick Ratio Distribution
For the Asset Management industry and Financial Services sector, Top 10 Split Trust's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Top 10 Split Trust's Quick Ratio falls into.
Top 10 Split Trust 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.
Top 10 Split Trust'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.
Top 10 Split Trust (TSX:TXT.UN) 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.
Top 10 Split Trust Quick Ratio Related Terms
Thank you for viewing the detailed overview of Top 10 Split Trust's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Top 10 Split Trust (TSX:TXT.UN) Business Description
Top 10 Split Trust is a Canada-based closed-end investment trust. The fund invests in a portfolio of securities consisting of common equity securities of Canadian banks and Canadian life insurance companies. Its investment objective is to provide unitholders with the benefit of capital appreciation in the market price of the securities in the fund's portfolio.
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