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. Bionano Genomics's current ratio for the quarter that ended in Mar. 2024 was 1.46.
Bionano Genomics has a current ratio of 1.46. It generally indicates good short-term financial strength.
The historical rank and industry rank for Bionano Genomics's Current Ratio or its related term are showing as below:
BNGO'
s Current Ratio Range Over the Past 10 Years
Min: 0.43 Med: 3.66 Max: 51.65
Current: 1.46
During the past 8 years, Bionano Genomics's highest Current Ratio was 51.65. The lowest was 0.43. And the median was 3.66.
BNGO's Current Ratio is ranked worse than 78% of 868
companies
in the Medical Devices & Instruments industry
Industry Median: 2.7
vs BNGO: 1.46
Bionano Genomics Current Ratio Historical Data
The historical data trend for Bionano Genomics'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 Bionano Genomics's Current Ratio
For the Medical Instruments & Supplies subindustry, Bionano Genomics'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.
Bionano Genomics's Current Ratio Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Bionano Genomics's Current Ratio distribution charts can be found below:
* The bar in red indicates where Bionano Genomics's Current Ratio falls into.
Bionano Genomics 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.
Bionano Genomics'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.
Bionano Genomics (NAS:BNGO) 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.
Bionano Genomics Current Ratio Related Terms
Thank you for viewing the detailed overview of Bionano Genomics's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Bionano Genomics (Bionano Genomics) Business Description
Bionano Genomics Inc is a life sciences instrumentation company in the genome analysis space. It is engaged in the development and marketing of the Saphyr system, a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets and to streamline the study of changes in chromosomes. Geographically, it operates in Americas, EMEA and Asia Pacific; majority revenue being generated from Americas.
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