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. Greenway Greenhouse Cannabis's quick ratio for the quarter that ended in Dec. 2023 was 0.59.
Greenway Greenhouse Cannabis has a quick ratio of 0.59. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Greenway Greenhouse Cannabis's Quick Ratio or its related term are showing as below:
XCNQ:GWAY'
s Quick Ratio Range Over the Past 10 Years
Min: 0.28 Med: 0.64 Max: 2.27
Current: 0.59
During the past 3 years, Greenway Greenhouse Cannabis's highest Quick Ratio was 2.27. The lowest was 0.28. And the median was 0.64.
XCNQ:GWAY's Quick Ratio is ranked worse than 80.45% of 1074
companies
in the Drug Manufacturers industry
Industry Median: 1.33
vs XCNQ:GWAY: 0.59
Greenway Greenhouse Cannabis Quick Ratio Historical Data
The historical data trend for Greenway Greenhouse Cannabis'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 Greenway Greenhouse Cannabis's Quick Ratio
For the Drug Manufacturers - Specialty & Generic subindustry, Greenway Greenhouse Cannabis'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.
Greenway Greenhouse Cannabis's Quick Ratio Distribution in the Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Greenway Greenhouse Cannabis's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Greenway Greenhouse Cannabis's Quick Ratio falls into.
Greenway Greenhouse Cannabis 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.
Greenway Greenhouse Cannabis's Quick Ratio for the fiscal year that ended in Mar. 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.
Greenway Greenhouse Cannabis (XCNQ:GWAY) 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.
Greenway Greenhouse Cannabis Quick Ratio Related Terms
Thank you for viewing the detailed overview of Greenway Greenhouse Cannabis's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Greenway Greenhouse Cannabis (XCNQ:GWAY) Business Description
Greenway Greenhouse Cannabis Corp is licensed to cultivate, process and sell to ensures harvests always consist of the highest quality cannabis strains with resinous flowers, trichomes, and rich cannabinoid profiles. The Company's nursery facility is located in Kingsville, Ontario, and its flowering and processing facility is located in Leamington, Ontario. The business model is to supply bulk packaged, high quality cannabis to the Canadian, cannabis industry at prices that ultimately provide a value proposition to the consumers. Greenway has three divisions with various locations; Greenway Nursery, Greenway Cultivation and future plans for Greenway Farmgate Retail Store.
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