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. Tincorp Metals's quick ratio for the quarter that ended in Mar. 2024 was 0.19.
Tincorp Metals has a quick ratio of 0.19. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Tincorp Metals's Quick Ratio or its related term are showing as below:
TSXV:TIN'
s Quick Ratio Range Over the Past 10 Years
Min: 0.12 Med: 2.87 Max: 8.8
Current: 0.19
During the past 4 years, Tincorp Metals's highest Quick Ratio was 8.80. The lowest was 0.12. And the median was 2.87.
TSXV:TIN's Quick Ratio is ranked worse than 86.81% of 2684
companies
in the Metals & Mining industry
Industry Median: 1.69
vs TSXV:TIN: 0.19
Tincorp Metals Quick Ratio Historical Data
The historical data trend for Tincorp Metals'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 Tincorp Metals's Quick Ratio
For the Gold subindustry, Tincorp Metals'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.
Tincorp Metals's Quick Ratio Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Tincorp Metals's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Tincorp Metals's Quick Ratio falls into.
Tincorp Metals 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.
Tincorp Metals'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.
Tincorp Metals (TSXV:TIN) 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.
Tincorp Metals Quick Ratio Related Terms
Thank you for viewing the detailed overview of Tincorp Metals's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Tincorp Metals Inc is focused on its wholly owned Skukum Gold Project located in the Whitehorse Mining District of the southern Yukon. The project consists of 1,051 mineral claims covering an area of 170 square kilometres and is located approximately 55 kilometres south of Whitehorse, Yukon. The project hosts the advanced-stage Skukum Creek, Goddell and Mount Skukum high-grade gold deposits and multiple high-priority exploration targets. Project infrastructure includes an all-weather access road, an all-weather 50-person camp, approximately 4.8 kilometres of underground workings, an extensive surface road network and a previously operating 300-tpd mill along with a tailings management facility and service buildings.
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