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Able Global Bhd (XKLS:7167) Quick Ratio : 2.14 (As of Dec. 2023)


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What is Able Global Bhd 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. Able Global Bhd's quick ratio for the quarter that ended in Dec. 2023 was 2.14.

Able Global Bhd has a quick ratio of 2.14. It generally indicates good short-term financial strength.

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

XKLS:7167' s Quick Ratio Range Over the Past 10 Years
Min: 0.78   Med: 1.65   Max: 2.14
Current: 2.14

During the past 13 years, Able Global Bhd's highest Quick Ratio was 2.14. The lowest was 0.78. And the median was 1.65.

XKLS:7167's Quick Ratio is ranked better than
76.15% of 1916 companies
in the Consumer Packaged Goods industry
Industry Median: 1.05 vs XKLS:7167: 2.14

Able Global Bhd Quick Ratio Historical Data

The historical data trend for Able Global Bhd'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.

Able Global Bhd Quick Ratio Chart

Able Global Bhd Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Quick Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.78 1.98 1.47 2.12 2.14

Able Global Bhd Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Quick Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.12 1.25 1.23 1.38 2.14

Competitive Comparison of Able Global Bhd's Quick Ratio

For the Packaged Foods subindustry, Able Global Bhd'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.


Able Global Bhd's Quick Ratio Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Able Global Bhd's Quick Ratio distribution charts can be found below:

* The bar in red indicates where Able Global Bhd's Quick Ratio falls into.



Able Global Bhd 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.

Able Global Bhd's Quick Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Quick Ratio (A: Dec. 2023 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(583.344-171.54)/192.561
=2.14

Able Global Bhd'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
=(583.344-171.54)/192.561
=2.14

* 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.


Able Global Bhd  (XKLS:7167) 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.


Able Global Bhd Quick Ratio Related Terms

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Able Global Bhd (XKLS:7167) Business Description

Traded in Other Exchanges
N/A
Address
PTD 124298, Jalan Kempas Lama, Kampung Seelong Jaya, Skudai, MYS, 81300
Able Global Bhd formerly Johore Tin Bhd is principally engaged in the business of investment holding and the provision of management services. The group is organized into the three main reportable segments: Investment Holding; Tin Manufacturing; and Food and Beverage. Its Investment Holding is involved in the business of investment holding and provision of management services. Tin Manufacturing is involved in the manufacturing of various tins, cans, and other containers. Food and Beverage are involved in manufacturing and selling of milk and other related dairy products. It generates maximum revenue from Food and Beverage segment. Geographically, it derives majority revenue from Malaysia and also has a presence in Africa, Central America, Europe, Malaysia, and Other Countries.

Able Global Bhd (XKLS:7167) Headlines

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