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. SKYX Platforms's quick ratio for the quarter that ended in Dec. 2023 was 0.99.
SKYX Platforms has a quick ratio of 0.99. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for SKYX Platforms's Quick Ratio or its related term are showing as below:
SKYX'
s Quick Ratio Range Over the Past 10 Years
Min: 0.02 Med: 0.59 Max: 3.97
Current: 0.99
During the past 9 years, SKYX Platforms's highest Quick Ratio was 3.97. The lowest was 0.02. And the median was 0.59.
SKYX's Quick Ratio is ranked worse than 70.12% of 3022
companies
in the Industrial Products industry
Industry Median: 1.4
vs SKYX: 0.99
SKYX Platforms Quick Ratio Historical Data
The historical data trend for SKYX Platforms'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.
Competitive Comparison of SKYX Platforms's Quick Ratio
For the Electrical Equipment & Parts subindustry, SKYX Platforms'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.
SKYX Platforms's Quick Ratio Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, SKYX Platforms's Quick Ratio distribution charts can be found below:
* The bar in red indicates where SKYX Platforms's Quick Ratio falls into.
SKYX Platforms 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.
SKYX Platforms'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.
SKYX Platforms (NAS:SKYX) 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.
SKYX Platforms Quick Ratio Related Terms
Thank you for viewing the detailed overview of SKYX Platforms's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
SKYX Platforms (SKYX Platforms) Business Description
SKYX Platforms Corp operates in the business of developing proprietary technology that enables a quick and safe installation of electrical fixtures, such as light fixtures and ceiling fans. The company's technology consists of a weight bearing, fixable socket and a revolving plug for conducting electric power and supporting an electrical appliance attached to a wall or ceiling. The socket is comprised of a nonconductive body that houses conductive rings connectable to an electric power supply through terminals in its side exterior. The plug is also comprised of a nonconductive body that houses corresponding conductive rings, attaches to the socket via a male post and is capable of feeding electric power to an appliance. The Company generates its income from the United States.
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