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. ICL Group's quick ratio for the quarter that ended in Dec. 2023 was 0.88.
ICL Group has a quick ratio of 0.88. It indicates that the company cannot currently fully pay back its current liabilities.
The historical rank and industry rank for ICL Group's Quick Ratio or its related term are showing as below:
XTAE:ICL'
s Quick Ratio Range Over the Past 10 Years
Min: 0.64 Med: 0.79 Max: 0.93
Current: 0.88
During the past 13 years, ICL Group's highest Quick Ratio was 0.93. The lowest was 0.64. And the median was 0.79.
XTAE:ICL's Quick Ratio is ranked worse than 59.76% of 251
companies
in the Agriculture industry
Industry Median: 1.04
vs XTAE:ICL: 0.88
ICL Group Quick Ratio Historical Data
The historical data trend for ICL Group'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.
For the Agricultural Inputs subindustry, ICL Group'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.
ICL Group's Quick Ratio Distribution in the Agriculture Industry
For the Agriculture industry and Basic Materials sector, ICL Group's Quick Ratio distribution charts can be found below:
* The bar in red indicates where ICL Group's Quick Ratio falls into.
ICL Group 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.
ICL Group'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.
ICL Group (XTAE:ICL) 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.
ICL Group Quick Ratio Related Terms
Thank you for viewing the detailed overview of ICL Group's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
ICL Group Ltd is a manufacturer of products based on minerals. The firm is comprised of four segments: phosphate solutions, potash, industrial products, and growing solutions. These segments all contribute to the company's development of agriculture, food, and engineered material products and services. The company mines and manufactures potash and phosphates to be used as ingredients in fertilizers and serve as a component in the pharmaceutical and food additives industries. It is also engaged in industrial additives and materials, including flame retardants, phosphate salts, specialty phosphate blends, purified phosphoric acid, electronic-grade specialty phosphoric acids. Its geographical segments are Europe, Asia, North and South America, and the Rest of the world.
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