Legacy Iron Ore (ASX:LCY) Cash Ratio : 33.18 (As of Sep. 2023)

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What is Legacy Iron Ore Cash Ratio?

The Cash Ratio measures a company’s ability to meet its short-term obligations with cash and near-cash resources. It is calculated as a company's Cash, Cash Equivalents, Marketable Securities divides by its Total Current Liabilities. Legacy Iron Ore's Cash Ratio for the quarter that ended in Sep. 2023 was 33.18.

Legacy Iron Ore has a Cash Ratio of 33.18. It generally indicates that the company is able to cover all short-term debt and still have cash remaining.

The historical rank and industry rank for Legacy Iron Ore's Cash Ratio or its related term are showing as below:

ASX:LCY' s Cash Ratio Range Over the Past 10 Years
Min: 0.35 Med: 31.91 Max: 50.76
Current: 33.18

During the past 13 years, Legacy Iron Ore's highest Cash Ratio was 50.76. The lowest was 0.35. And the median was 31.91.

ASX:LCY's Cash Ratio is ranked better than
96.76% of 2589 companies
in the Metals & Mining industry
Industry Median: 1.15 vs ASX:LCY: 33.18

Legacy Iron Ore Cash Ratio Historical Data

The historical data trend for Legacy Iron Ore's Cash 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.

Legacy Iron Ore Cash Ratio Chart

Legacy Iron Ore Annual Data

Trend

Jun13

Jun14

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Cash Ratio

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9.29

36.86

37.73

31.95

50.76

Legacy Iron Ore Semi-Annual Data
	Jun13	Dec13	Jun14	Dec14	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Cash Ratio	Get a 7-Day Free Trial															33.28	31.95	7.17	50.76	33.18

Competitive Comparison of Legacy Iron Ore's Cash Ratio

For the Other Industrial Metals & Mining subindustry, Legacy Iron Ore's Cash Ratio, along with its competitors' market caps and Cash 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.

Legacy Iron Ore's Cash Ratio Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Legacy Iron Ore's Cash Ratio distribution charts can be found below:

* The bar in red indicates where Legacy Iron Ore's Cash Ratio falls into.

Legacy Iron Ore Cash Ratio Calculation

The Cash Ratio measures a company's ability to meet its short-term obligations with its cash and near-cash resources.

Legacy Iron Ore's Cash Ratio for the fiscal year that ended in Mar. 2023 is calculated as:

Cash Ratio (A: Mar. 2023 )	=	Cash, Cash Equivalents, Marketable Securities	/	Total Current Liabilities
	=	9.745	/	0.192
	=	50.76

Legacy Iron Ore's Cash Ratio for the quarter that ended in Sep. 2023 is calculated as:

Cash Ratio (Q: Sep. 2023 )	=	Cash, Cash Equivalents, Marketable Securities	/	Total Current Liabilities
	=	10.053	/	0.303
	=	33.18

Legacy Iron Ore (ASX:LCY) Cash Ratio Explanation

The cash ratio is more conservative than other liquidity ratios, such as Quick Ratio and Current Ratio, because it only considers a company's most liquid resources. The numerator of cash ratio only considers Cash, Cash Equivalents and marketable securities. Other current assets, such as accounts receivable and inventories, are not included. The rationale is that these assets may require time to be transformed into cash, and the amount of money received is also uncertain.

The cash ratio shows a company’s ability to pay all current liabilities immediately without selling or liquidating other assets. Generally speaking, a higher cash ratio suggests the company has a stronger ability to cover its short-term debt. However, a high cash ratio could also indicate inefficient management: the company is inefficient in making full utilization of cash to invest protential profitable project. It may also suggest that the company is not confident about future profitability.

In general, the higher the cash ratio, the better the company's liquidity position.

Legacy Iron Ore Cash Ratio Related Terms

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Legacy Iron Ore (ASX:LCY) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Legacy Iron Ore Ltd (ASX:LCY) » Definitions » Cash Ratio

Comparable Companies

Traded in Other Exchanges

N/A

Address

200 Adelaide Terrace, Level 6, West Perth, Perth, WA, AUS, 6004

Website

http://www.legacyiron.com.au

Legacy Iron Ore Ltd is engaged in the exploration and development of mineral properties. It holds a diverse portfolio of assets spanning iron ore, gold and base metals, Tungsten, Rare earth elements. Its projects include Mt Bevan Project, South Laverton Gold Project, Mt. Celia Project and many more.