Millennial Potash (TSXV:MLP) Quick Ratio : 4.66 (As of Nov. 2023)

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What is Millennial Potash Quick Ratio?

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. Millennial Potash's quick ratio for the quarter that ended in Nov. 2023 was 4.66.

Millennial Potash has a quick ratio of 4.66. It generally indicates good short-term financial strength.

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

TSXV:MLP' s Quick Ratio Range Over the Past 10 Years
Min: 1.05 Med: 16.22 Max: 367.58
Current: 4.66

During the past 5 years, Millennial Potash's highest Quick Ratio was 367.58. The lowest was 1.05. And the median was 16.22.

TSXV:MLP's Quick Ratio is ranked better than
70.32% of 2672 companies
in the Metals & Mining industry
Industry Median: 1.805 vs TSXV:MLP: 4.66

Millennial Potash Quick Ratio Historical Data

The historical data trend for Millennial Potash'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.

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Millennial Potash Quick Ratio Chart

Millennial Potash Annual Data

Trend

Aug19

Aug20

Aug21

Aug22

Aug23

Quick Ratio

12.08

1.05

41.49

16.56

5.78

Millennial Potash Quarterly Data
	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23
Quick Ratio	Get a 7-Day Free Trial													19.11	12.08	6.69	5.78	4.66

Competitive Comparison of Millennial Potash's Quick Ratio

For the Other Industrial Metals & Mining subindustry, Millennial Potash'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.

Millennial Potash's Quick Ratio Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Millennial Potash's Quick Ratio falls into.

Millennial Potash 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.

Millennial Potash's Quick Ratio for the fiscal year that ended in Aug. 2023 is calculated as

Quick Ratio (A: Aug. 2023 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(2.872	-	0)	/	0.497
	=	5.78

Millennial Potash's Quick Ratio for the quarter that ended in Nov. 2023 is calculated as

Quick Ratio (Q: Nov. 2023 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(1.632	-	0)	/	0.35
	=	4.66

Millennial Potash (TSXV:MLP) 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.

Millennial Potash Quick Ratio Related Terms

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Millennial Potash (TSXV:MLP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Millennial Potash Corp (TSXV:MLP) » Definitions » Quick Ratio

Comparable Companies

Traded in Other Exchanges

MLPNF:USA X0D:Germany X0D:Germany

Address

300-1455 Bellevue Avenue, West Vancouver, Vancouver, BC, CAN, V7T 1C3

Website

https://www.millennialpotash.com

Millennial Potash Corp is a Canadian resource company focused on the exploration and development of potash deposits. The company's flagship asset is the Banio Potash Project located along the coast of Gabon, West Africa, which has the potential to have all the right characteristics to become a producer of potash.