The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated as a company's Total Current Assets divides by its Total Current Liabilities. Akoya Biosciences's current ratio for the quarter that ended in Mar. 2024 was 3.07.
Akoya Biosciences has a current ratio of 3.07. It indicates the company may not be efficiently using its current assets or its short-term financing facilities. This may also indicate problems in working capital management.
The historical rank and industry rank for Akoya Biosciences's Current Ratio or its related term are showing as below:
AKYA'
s Current Ratio Range Over the Past 10 Years
Min: 1.17 Med: 3.37 Max: 8.67
Current: 3.07
During the past 5 years, Akoya Biosciences's highest Current Ratio was 8.67. The lowest was 1.17. And the median was 3.37.
AKYA's Current Ratio is ranked better than 60.83% of 868
companies
in the Medical Devices & Instruments industry
Industry Median: 2.7
vs AKYA: 3.07
Akoya Biosciences Current Ratio Historical Data
The historical data trend for Akoya Biosciences's Current 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 Akoya Biosciences's Current Ratio
For the Medical Instruments & Supplies subindustry, Akoya Biosciences's Current Ratio, along with its competitors' market caps and Current 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.
Akoya Biosciences's Current Ratio Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Akoya Biosciences's Current Ratio distribution charts can be found below:
* The bar in red indicates where Akoya Biosciences's Current Ratio falls into.
Akoya Biosciences Current Ratio Calculation
The current ratio is mainly used to give an idea of the company's ability to pay back its short-term liabilities with its short-term assets.
Akoya Biosciences's Current Ratio for the fiscal year that ended in Dec. 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.
Akoya Biosciences (NAS:AKYA) Current Ratio Explanation
The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations. Because business operations differ in each industry, it is always more useful to compare companies within the same industry.
Acceptable current ratios vary from industry to industry and are generally between 1 and 3 for healthy businesses.
The higher the current ratio, the more capable the company is of paying its obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point. While this shows the company is not in good financial health, it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign.
If all other things were equal, a creditor, who is expecting to be paid in the next 12 months, would consider a high current ratio to be better than a low current ratio, because a high current ratio means that the company is more likely to meet its liabilities which fall due in the next 12 months.
Akoya Biosciences Current Ratio Related Terms
Thank you for viewing the detailed overview of Akoya Biosciences's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Akoya Biosciences (Akoya Biosciences) Business Description
Akoya Biosciences Inc is a life sciences technology company. It is delivering spatial biology solutions focused on transforming discovery and clinical research. The company offers the comprehensive, end-to-end solutions for high-parameter tissue analysis from discovery through clinical and translational research, enabling the development of more precise therapies for immuno-oncology and other drug development applications. The company has its geographical presence in North America, APAC and EMEA. It generates majority of the revenue from North America.
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