Flotek Industries has a quick ratio of 1.33. It generally indicates good short-term financial strength.
The historical rank and industry rank for Flotek Industries's Quick Ratio or its related term are showing as below:
STU:F2I0'
s Quick Ratio Range Over the Past 10 Years
Min: 0.43 Med: 1.57 Max: 3.16
Current: 1.33
During the past 13 years, Flotek Industries's highest Quick Ratio was 3.16. The lowest was 0.43. And the median was 1.57.
STU:F2I0's Quick Ratio is ranked better than 58.2% of 1079
companies
in the Oil & Gas industry
Industry Median: 1.11
vs STU:F2I0: 1.33
Flotek Industries Quick Ratio Historical Data
The historical data trend for Flotek Industries'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 Flotek Industries's Quick Ratio
For the Oil & Gas Equipment & Services subindustry, Flotek Industries'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.
Flotek Industries's Quick Ratio Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Flotek Industries's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Flotek Industries's Quick Ratio falls into.
Flotek Industries 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.
Flotek Industries'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.
Flotek Industries (STU:F2I0) 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.
Flotek Industries Quick Ratio Related Terms
Thank you for viewing the detailed overview of Flotek Industries's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Flotek Industries Inc delivers chemistry-based technology solutions for energy, industrial, and consumer applications. It develops and supplies chemistry and services to the oil and gas industries, and high-value compounds to companies that make food and beverages, cleaning products, cosmetics, and others. The company operates in the Chemistry Technologies segment which designs, develops, manufactures, packages, and markets chemistries that market specialty chemicals. Its Data Analytics segment enables users to maximize the value of their hydrocarbon-associated processes by providing analytics associated with the streams in seconds rather than minutes or days.
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