Hooker Furnishings has a quick ratio of 2.49. It generally indicates good short-term financial strength.
The historical rank and industry rank for Hooker Furnishings's Quick Ratio or its related term are showing as below:
HOFT'
s Quick Ratio Range Over the Past 10 Years
Min: 1.81 Med: 2.54 Max: 5.08
Current: 2.49
During the past 13 years, Hooker Furnishings's highest Quick Ratio was 5.08. The lowest was 1.81. And the median was 2.54.
HOFT's Quick Ratio is ranked better than 80.33% of 427
companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 1.19
vs HOFT: 2.49
Hooker Furnishings Quick Ratio Historical Data
The historical data trend for Hooker Furnishings'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 Hooker Furnishings's Quick Ratio
For the Furnishings, Fixtures & Appliances subindustry, Hooker Furnishings'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.
Hooker Furnishings's Quick Ratio Distribution in the Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Hooker Furnishings's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Hooker Furnishings's Quick Ratio falls into.
Hooker Furnishings 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.
Hooker Furnishings's Quick Ratio for the fiscal year that ended in Jan. 2024 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.
Hooker Furnishings (NAS:HOFT) 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.
Hooker Furnishings Quick Ratio Related Terms
Thank you for viewing the detailed overview of Hooker Furnishings's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Hooker Furnishings (Hooker Furnishings) Business Description
Hooker Furnishings Corp formerly Hooker Furniture Corp is a designer, marketer, and importer of case goods, leather furniture, and fabric-upholstered furniture for the residential, hospitality, and contract markets. The company also domestically manufactures premium residential custom leather and custom fabric-upholstered furniture. Its segments are the Hooker Branded, which includes a wide range of design categories, home entertainment, home office, dining, and bedroom furniture; the Home Meridian segment includes Samuel Lawrence Furniture and Pulaski Furniture; and the Domestic Upholstery segment includes the domestic upholstery manufacturing operations of Sam Moore and Shenandoah Furniture and others. The company generates most of its revenue from the Home Meridian Segment.
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