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Mission Produce (Mission Produce) Current Ratio : 2.27 (As of Jan. 2024)


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What is Mission Produce Current Ratio?

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. Mission Produce's current ratio for the quarter that ended in Jan. 2024 was 2.27.

Mission Produce has a current ratio of 2.27. It generally indicates good short-term financial strength.

The historical rank and industry rank for Mission Produce's Current Ratio or its related term are showing as below:

AVO' s Current Ratio Range Over the Past 10 Years
Min: 1.98   Med: 2.27   Max: 3.18
Current: 2.27

During the past 6 years, Mission Produce's highest Current Ratio was 3.18. The lowest was 1.98. And the median was 2.27.

AVO's Current Ratio is ranked better than
77.14% of 315 companies
in the Retail - Defensive industry
Industry Median: 1.29 vs AVO: 2.27

Mission Produce Current Ratio Historical Data

The historical data trend for Mission Produce'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.

* Premium members only.

Mission Produce Current Ratio Chart

Mission Produce Annual Data
Trend Oct18 Oct19 Oct20 Oct21 Oct22 Oct23
Current Ratio
Get a 7-Day Free Trial 2.59 3.18 2.77 2.24 2.26

Mission Produce Quarterly Data
Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24
Current 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 2.26 2.28 2.12 2.26 2.27

Competitive Comparison of Mission Produce's Current Ratio

For the Food Distribution subindustry, Mission Produce'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.


Mission Produce's Current Ratio Distribution in the Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Mission Produce's Current Ratio distribution charts can be found below:

* The bar in red indicates where Mission Produce's Current Ratio falls into.



Mission Produce 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.

Mission Produce's Current Ratio for the fiscal year that ended in Oct. 2023 is calculated as

Current Ratio (A: Oct. 2023 )=Total Current Assets (A: Oct. 2023 )/Total Current Liabilities (A: Oct. 2023 )
=220.1/97.5
=2.26

Mission Produce's Current Ratio for the quarter that ended in Jan. 2024 is calculated as

Current Ratio (Q: Jan. 2024 )=Total Current Assets (Q: Jan. 2024 )/Total Current Liabilities (Q: Jan. 2024 )
=244.5/107.9
=2.27

* 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.


Mission Produce  (NAS:AVO) 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.


Mission Produce Current Ratio Related Terms

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Mission Produce (Mission Produce) Business Description

Traded in Other Exchanges
Address
2710 Camino Del Sol, Oxnard, CA, USA, 93030
Mission Produce Inc is engaged in the business of producing and distributing avocados, serving retail, wholesale, and food service customers. Also, the company provides additional services like ripening, bagging, custom packing, and logistical management. The company's operating segments include Marketing and Distribution and International Farming and Blueberries. It generates maximum revenue from the Marketing and Distribution segment. The Marketing and Distribution segment sources fruit mainly from growers and then distributes fruit through a distribution network.
Executives
Bryan E Giles officer: CHIEF FINANCIAL OFFICER C/O MISSION PRODUCE, INC., 2500 E. VINEYARD AVENUE, SUITE 300, OXNARD CA 93036
Stephen J Barnard director, officer: PRESIDENT AND CEO C/O MISSION PRODUCE, INC., 2500 E. VINEYARD AVENUE, SUITE 300, OXNARD CA 93036
Tony B Sarsam director 850 76TH STREET SW, PO BOX 8700, GRAND RAPIDS MI 49518
Luis A Gonzalez director, 10 percent owner C/O MISSION PRODUCE,INC., 2500 E. VINEYARD AVENUE, SUITE 300, OXNARD CA 93036
Juan R Wiesner officer: See Remarks C/O MISSION PRODUCE, INC., 2500 E. VINEYARD AVENUE, SUITE 300, OXNARD CA 93036
Timothy Bulow officer: President and COO 2710 CAMINO DEL SOL, OXNARD CA 93030
Bonnie Cruickshank Lind director 3460 PRESTON RIDGE ROAD, ALPHARETTA GA 30005
Shaunte Danielle Mears-watkins director 2710 CAMINO DEL SOL, OXNARD CA 93030
Joanne C Wu officer: General Counsel and Secretary C/O MISSION PRODUCE, INC., 2710 CAMINO DEL SOL, OXNARD CA 93030
Michael A Browne officer: CHIEF OPERATING OFFICER C/O MISSION PRODUCE, INC., 2500 E. VINEYARD AVENUE, SUITE 300, OXNARD CA 93036
Jay A Pack director C/O MISSION PRODUCE, INC., 2500 E. VINEYARD AVENUE, SUITE 300, OXNARD CA 93036
Steve A Beebe director C/O MISSION PRODUCE, INC., 2500 E. VINEYARD AVENUE, SUITE 300, OXNARD CA 93036
Ross W Wileman officer: See Remarks C/O MISSION PRODUCE, INC., 2500 E. VINEYARD AVENUE, SUITE 300, OXNARD CA 93036
Bruce C. Taylor director, 10 percent owner C/O TAYLOR FARMS, 911-B BLANCO CIRCLE, SALINAS CA 93901
Linda B Segre director 2180 RUTHERFORD ROAD, CARLSBAD CA 92008