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. Cleanaway Co's quick ratio for the quarter that ended in Mar. 2024 was 1.07.
Cleanaway Co has a quick ratio of 1.07. It generally indicates good short-term financial strength.
The historical rank and industry rank for Cleanaway Co's Quick Ratio or its related term are showing as below:
TPE:8422'
s Quick Ratio Range Over the Past 10 Years
Min: 1.02 Med: 2.45 Max: 7
Current: 1.07
During the past 13 years, Cleanaway Co's highest Quick Ratio was 7.00. The lowest was 1.02. And the median was 2.45.
TPE:8422's Quick Ratio is ranked worse than 60.41% of 245
companies
in the Waste Management industry
Industry Median: 1.28
vs TPE:8422: 1.07
Cleanaway Co Quick Ratio Historical Data
The historical data trend for Cleanaway Co'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 Cleanaway Co's Quick Ratio
For the Waste Management subindustry, Cleanaway Co'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.
Cleanaway Co's Quick Ratio Distribution in the Waste Management Industry
For the Waste Management industry and Industrials sector, Cleanaway Co's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Cleanaway Co's Quick Ratio falls into.
Cleanaway Co 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.
Cleanaway Co'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.
Cleanaway Co (TPE:8422) 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.
Cleanaway Co Quick Ratio Related Terms
Thank you for viewing the detailed overview of Cleanaway Co's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Cleanaway Co Ltd offers one-stop-shop services for treating forms of waste. It treats various industrial and hazardous waste materials and owns private landfills for final disposal in Taiwan. The company provides systems for daily activities and solutions for cleaning up contaminated sites. Cleaning an entire location can require on-site sampling and experimental studies to return the location to its natural form. Cleanway provides technologies, contracts, clearance, and transportation to the designated landfill, and it enforces strict compliance with all regulations. Part of the process focuses on quality control and random testing to prevent non-treated or unapproved wastes from entering the company's landfills.
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