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. Vycor Medical's quick ratio for the quarter that ended in Mar. 2024 was 0.09.
Vycor Medical has a quick ratio of 0.09. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for Vycor Medical's Quick Ratio or its related term are showing as below:
VYCO'
s Quick Ratio Range Over the Past 10 Years
Min: 0.07 Med: 0.2 Max: 3.38
Current: 0.09
During the past 13 years, Vycor Medical's highest Quick Ratio was 3.38. The lowest was 0.07. And the median was 0.20.
VYCO's Quick Ratio is ranked worse than 98.04% of 866
companies
in the Medical Devices & Instruments industry
Industry Median: 2.015
vs VYCO: 0.09
Vycor Medical Quick Ratio Historical Data
The historical data trend for Vycor Medical'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 Vycor Medical's Quick Ratio
For the Medical Devices subindustry, Vycor Medical'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.
Vycor Medical's Quick Ratio Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Vycor Medical's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Vycor Medical's Quick Ratio falls into.
Vycor Medical 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.
Vycor Medical'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.
Vycor Medical (OTCPK:VYCO) 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.
Vycor Medical Quick Ratio Related Terms
Thank you for viewing the detailed overview of Vycor Medical's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Vycor Medical (Vycor Medical) Business Description
Vycor Medical Inc is engaged in designing, developing and marketing medical devices for use in neurosurgery in the United States. It has developed ViewSite Brain Access System, which helps to reduce brain tissue trauma that arises from excessive pressure at the edges of the blade. It also provides non-invasive rehabilitation therapies for patients having disorders resulting from neurological brain damage caused by a stroke. The company operates through two segments: Vycor Medical, which focuses on devices for neurosurgery; and NovaVision, which focuses on neurostimulation therapies and diagnostic devices for the treatment and screening of visual field loss. The majority of the revenue comes from the Vycor Medical segment in the United States.
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