Nuix (ASX:NXL) Quick Ratio : 1.24 (As of Dec. 2023)

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What is Nuix 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. Nuix's quick ratio for the quarter that ended in Dec. 2023 was 1.24.

Nuix has a quick ratio of 1.24. It generally indicates good short-term financial strength.

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

ASX:NXL' s Quick Ratio Range Over the Past 10 Years
Min: 1.24 Med: 1.55 Max: 2.36
Current: 1.24

During the past 4 years, Nuix's highest Quick Ratio was 2.36. The lowest was 1.24. And the median was 1.55.

ASX:NXL's Quick Ratio is ranked worse than
64.23% of 2835 companies
in the Software industry
Industry Median: 1.64 vs ASX:NXL: 1.24

Nuix Quick Ratio Historical Data

The historical data trend for Nuix'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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Nuix Quick Ratio Chart

Nuix Annual Data

Trend

Jun20

Jun21

Jun22

Jun23

Quick Ratio

1.72

2.36

1.55

1.28

Nuix Semi-Annual Data
	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Quick Ratio	Get a 7-Day Free Trial			1.56	1.55	1.48	1.28	1.24

Competitive Comparison of Nuix's Quick Ratio

For the Software - Application subindustry, Nuix'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.

Nuix's Quick Ratio Distribution in the Software Industry

For the Software industry and Technology sector, Nuix's Quick Ratio distribution charts can be found below:

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

Nuix 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.

Nuix's Quick Ratio for the fiscal year that ended in Jun. 2023 is calculated as

Quick Ratio (A: Jun. 2023 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(106.886	-	0)	/	83.52
	=	1.28

Nuix's Quick Ratio for the quarter that ended in Dec. 2023 is calculated as

Quick Ratio (Q: Dec. 2023 )	=	(Total Current Assets	-	Total Inventories)	/	Total Current Liabilities
	=	(104.583	-	0)	/	84.62
	=	1.24

Nuix (ASX:NXL) 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.

Nuix Quick Ratio Related Terms

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Nuix (ASX:NXL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Nuix Ltd (ASX:NXL) » Definitions » Quick Ratio

Comparable Companies

Traded in Other Exchanges

NXLLF:USA

Address

1 Market Street, Level 27, Sydney, NSW, AUS, 2000

Website

https://www.nuix.com

Nuix Ltd is engaged in providing software-related services. It is engaged in the development and distribution of software. The company provides services to advisory firms, litigation support vendors, corporations, government and law enforcement agencies. Its products include Nuix Discover, Nuix Investigate, and Nuix Workstation among others. The group's revenue primarily consists of license fees from customers' right to use the software. Its customers are located in the regions of Asia Pacific, the Americas, and Europe, Middle East and Africa.