Canada Nickel Co has a quick ratio of 1.17. It generally indicates good short-term financial strength.
The historical rank and industry rank for Canada Nickel Co's Quick Ratio or its related term are showing as below:
TSXV:CNC'
s Quick Ratio Range Over the Past 10 Years
Min: 0.12 Med: 1.17 Max: 7.3
Current: 1.17
During the past 4 years, Canada Nickel Co's highest Quick Ratio was 7.30. The lowest was 0.12. And the median was 1.17.
TSXV:CNC's Quick Ratio is ranked worse than 59.09% of 2679
companies
in the Metals & Mining industry
Industry Median: 1.75
vs TSXV:CNC: 1.17
Canada Nickel Co Quick Ratio Historical Data
The historical data trend for Canada Nickel 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 Canada Nickel Co's Quick Ratio
For the Other Industrial Metals & Mining subindustry, Canada Nickel 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.
Canada Nickel Co's Quick Ratio Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Canada Nickel Co's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Canada Nickel Co's Quick Ratio falls into.
Canada Nickel 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.
Canada Nickel Co's Quick Ratio for the fiscal year that ended in Oct. 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.
Canada Nickel Co (TSXV:CNC) 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.
Canada Nickel Co Quick Ratio Related Terms
Thank you for viewing the detailed overview of Canada Nickel Co's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Canada Nickel Co Inc is advancing the next generation of nickel-cobalt sulphide projects to deliver nickel and cobalt required to feed the high growth electric vehicle and stainless steel markets. The company has applied in multiple jurisdictions to trademark the terms NetZero Nickel, NetZero Cobalt, NetZero Iron and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel and cobalt in low political risk jurisdictions. The firm is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific - mining camp.
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