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The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. Mission Produce's quick ratio for the quarter that ended in Jan. 2024 was 1.47.
Mission Produce has a quick ratio of 1.47. It generally indicates good short-term financial strength.
The historical rank and industry rank for Mission Produce's Quick Ratio or its related term are showing as below:
During the past 6 years, Mission Produce's highest Quick Ratio was 2.69. The lowest was 1.28. And the median was 1.53.
The historical data trend for Mission Produce's Quick 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.
Mission Produce Annual Data | |||||||||||||||
Trend | Oct18 | Oct19 | Oct20 | Oct21 | Oct22 | Oct23 | |||||||||
Quick Ratio | Get a 7-Day Free Trial | 2.03 | 2.69 | 2.23 | 1.52 | 1.53 |
Mission Produce Quarterly Data | ||||||||||||||||||||
Apr19 | Jul19 | Oct19 | Jan20 | Apr20 | Jul20 | Oct20 | Jan21 | Apr21 | Jul21 | Oct21 | Jan22 | Apr22 | Jul22 | Oct22 | Jan23 | Apr23 | Jul23 | Oct23 | Jan24 | |
Quick Ratio | Get a 7-Day Free Trial | 1.45 | 1.36 | 1.36 | 1.53 | 1.47 |
For the Food Distribution subindustry, Mission Produce's Quick Ratio, along with its competitors' market caps and Quick 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.
For the Retail - Defensive industry and Consumer Defensive sector, Mission Produce's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Mission Produce's Quick Ratio falls into.
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.
Mission Produce's Quick Ratio for the fiscal year that ended in Oct. 2023 is calculated as
Quick Ratio (A: Oct. 2023 ) | = | (Total Current Assets | - | Total Inventories) | / | Total Current Liabilities |
= | (220.1 | - | 70.8) | / | 97.5 | |
= | 1.53 |
Mission Produce's Quick Ratio for the quarter that ended in Jan. 2024 is calculated as
Quick Ratio (Q: Jan. 2024 ) | = | (Total Current Assets | - | Total Inventories) | / | Total Current Liabilities |
= | (244.5 | - | 85.9) | / | 107.9 | |
= | 1.47 |
* 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) Quick Ratio Explanation
The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.
In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.
The higher the quick ratio, the better the company's liquidity position.
Thank you for viewing the detailed overview of Mission Produce's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
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 |
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