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. Singular Genomics Systems's current ratio for the quarter that ended in Mar. 2024 was 10.35.
Singular Genomics Systems has a current ratio of 10.35. 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 Singular Genomics Systems's Current Ratio or its related term are showing as below:
OMIC'
s Current Ratio Range Over the Past 10 Years
Min: 7.47 Med: 19.73 Max: 60.8
Current: 10.35
During the past 5 years, Singular Genomics Systems's highest Current Ratio was 60.80. The lowest was 7.47. And the median was 19.73.
OMIC's Current Ratio is ranked better than 91.23% of 867
companies
in the Medical Devices & Instruments industry
Industry Median: 2.66
vs OMIC: 10.35
Singular Genomics Systems Current Ratio Historical Data
* 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 Singular Genomics Systems's Current Ratio
For the Medical Instruments & Supplies subindustry, Singular Genomics Systems'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.
Singular Genomics Systems's Current Ratio Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Singular Genomics Systems's Current Ratio distribution charts can be found below:
* The bar in red indicates where Singular Genomics Systems's Current Ratio falls into.
Singular Genomics Systems 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.
Singular Genomics Systems'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.
Singular Genomics Systems (NAS:OMIC) 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.
Singular Genomics Systems Current Ratio Related Terms
Thank you for viewing the detailed overview of Singular Genomics Systems's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Singular Genomics Systems (Singular Genomics Systems) Business Description
Singular Genomics Systems Inc is a life science technology company that is leveraging novel next generation sequencing and multiomics technologies to build products that empower researchers and clinicians. The product development pipeline comprises two initial integrated solutions, each designed to leverage Sequencing Engine and purpose built to address different applications. The G4 Sequencing Platform is designed to target the NGS market. The PX Integrated Solution is designed to target the single cell, spatial analysis and proteomics markets. Both integrated solutions are used in many different and diverse market segments, including basic biology, oncology, immunology, neurology, genetic diseases, infectious diseases, the human microbiome and many others.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
OMIC has been successfully added to your 