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. Ryde Group's quick ratio for the quarter that ended in Dec. 2023 was 0.35.
Ryde Group has a quick ratio of 0.35. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Ryde Group's Quick Ratio or its related term are showing as below:
RYDE'
s Quick Ratio Range Over the Past 10 Years
Min: 0.35 Med: 0.86 Max: 0.89
Current: 0.35
During the past 3 years, Ryde Group's highest Quick Ratio was 0.89. The lowest was 0.35. And the median was 0.86.
RYDE's Quick Ratio is ranked worse than 93.37% of 2834
companies
in the Software industry
Industry Median: 1.64
vs RYDE: 0.35
Ryde Group Quick Ratio Historical Data
The historical data trend for Ryde Group'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.
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Ryde Group Quick Ratio Chart
Ryde Group Annual Data
Trend
Dec21
Dec22
Dec23
Quick Ratio
0.86
0.89
0.35
Ryde Group Semi-Annual Data
Dec21
Dec22
Dec23
Quick Ratio
0.86
0.89
0.35
Competitive Comparison of Ryde Group's Quick Ratio
For the Software - Application subindustry, Ryde Group'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.
Ryde Group's Quick Ratio Distribution in the Software Industry
For the Software industry and Technology sector, Ryde Group's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Ryde Group's Quick Ratio falls into.
Ryde Group Quick Ratio Calculation
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.
Ryde Group's Quick 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.
Ryde Group (AMEX:RYDE) 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.
Ryde Group Quick Ratio Related Terms
Thank you for viewing the detailed overview of Ryde Group's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Ryde Group Ltd is a company providing an super mobility app offering ultimate convenience and reliability for their customers through multiple mobility tools that can be accessed and function seamlessly out of a single app. The company operate in following segments such as being mobility where they provide on-demand and scheduled carpooling and ride-hailing services, matching riders to our driver partners; and quick commerce where they provide on-demand, scheduled, and multi-stop parcel delivery services.
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