Aurora Innovation has a quick ratio of 10.96. It generally indicates good short-term financial strength.
The historical rank and industry rank for Aurora Innovation's Quick Ratio or its related term are showing as below:
AUR'
s Quick Ratio Range Over the Past 10 Years
Min: 10.96 Med: 13.1 Max: 18.43
Current: 10.96
During the past 5 years, Aurora Innovation's highest Quick Ratio was 18.43. The lowest was 10.96. And the median was 13.10.
AUR's Quick Ratio is ranked better than 97.31% of 2826
companies
in the Software industry
Industry Median: 1.67
vs AUR: 10.96
Aurora Innovation Quick Ratio Historical Data
The historical data trend for Aurora Innovation'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 Aurora Innovation's Quick Ratio
For the Information Technology Services subindustry, Aurora Innovation'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.
Aurora Innovation's Quick Ratio Distribution in the Software Industry
For the Software industry and Technology sector, Aurora Innovation's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Aurora Innovation's Quick Ratio falls into.
Aurora Innovation 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.
Aurora Innovation'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.
Aurora Innovation (NAS:AUR) 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.
Aurora Innovation Quick Ratio Related Terms
Thank you for viewing the detailed overview of Aurora Innovation's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Aurora Innovation (Aurora Innovation) Business Description
Aurora Innovation Inc is engaged in delivering self-driving technology safely, quickly, and broadly. The company designs and develops the Aurora Driver, which is the hardware, software, and data services that allow vehicles to drive themselves. Its flagship product, the Aurora Driver, is a platform that brings together software, hardware, and data services, to autonomously operate passenger vehicles, light commercial vehicles, and heavy-duty trucks. The company has partnered with industries across the transportation ecosystem including Toyota, Volvo, PACCAR, Uber, Uber Freight, FedEx, and U.S. Xpress. The company tests its vehicles in the Bay Area, Pittsburgh, and Texas and has offices in those areas as well as in Bozeman, MT; Seattle, WA; Louisville, CO; and Detroit, MI.
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