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. Ivanhoe Mines's quick ratio for the quarter that ended in Mar. 2024 was 0.42.
Ivanhoe Mines has a quick ratio of 0.42. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Ivanhoe Mines's Quick Ratio or its related term are showing as below:
TSX:IVN'
s Quick Ratio Range Over the Past 10 Years
Min: 0.42 Med: 21.31 Max: 47.59
Current: 0.42
During the past 13 years, Ivanhoe Mines's highest Quick Ratio was 47.59. The lowest was 0.42. And the median was 21.31.
TSX:IVN's Quick Ratio is ranked worse than 79.63% of 2671
companies
in the Metals & Mining industry
Industry Median: 1.79
vs TSX:IVN: 0.42
Ivanhoe Mines Quick Ratio Historical Data
The historical data trend for Ivanhoe Mines'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 Ivanhoe Mines's Quick Ratio
For the Other Industrial Metals & Mining subindustry, Ivanhoe Mines'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.
Ivanhoe Mines's Quick Ratio Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Ivanhoe Mines's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Ivanhoe Mines's Quick Ratio falls into.
Ivanhoe Mines 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.
Ivanhoe Mines'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.
Ivanhoe Mines (TSX:IVN) 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.
Ivanhoe Mines Quick Ratio Related Terms
Thank you for viewing the detailed overview of Ivanhoe Mines's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Ivanhoe Mines Ltd is a diversified mining company focused on advancing its three principal projects in Southern Africa; the expansion of the Kamoa-Kakula Copper Complex in the DRC, the construction of the tier-one Platreef palladium-rhodium-platinum-nickel-copper-gold project in South Africa; and the restart of the historic ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC. It is also exploring for new copper discoveries across its circa 2,400km2 of 90-100% owned exploration licences in the Western Foreland, located adjacent to the Kamoa-Kakula Copper Complex.
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