Accounts receivable are debts the company will collect within the next year; And short-term liabilities are any debts, obligations or accounts that the company must make payment on within the next year. To calculate the current ratio, well include all current assets in the numeratornot just cash and cash equivalents, accounts receivable, and marketable securities. As an example, a total current assets amount of $110,000 minus inventory of $35,000 equals $75,000, divided by total current liabilities of $100,000 gives you a ratio of 3:4. The quick ratio measures how well a company can meet its short-term liabilities (such as debts payment, payroll, inventory costs, etc.) The quick ratio is often referred to as the acid test because it offers a strong glimpse of your business's ability to liquidate assets. 2019 www.azcentral.com. (Short term obligations are generally defined as any liability due within the next year.) If you do have a lower quick ratio than industry standard, you need to either increase current assets or reduce current liabilities. What Is Quick Ratio: Can You Pay Your Liabilities? Quick Ratio Definition: How to Calculate Quick Ratio. Or, on the other hand, the company may have more options to manage its debt than the quick ratio indicates. Both are similar in the sense that current assets is the numerator, and current liabilities is the denominator. What Does Quick Ratio Mean? This is important because leaving this information out can give a false impression, making the company seem financially weaker than it actually is. The quick ratio formula is: Quick ratio = quick assets / current liabilities. Table of contents A quick ratio below industry standard means that your company has a relatively lower liquidity position than its competitors on one of the three common liquidity ratios used by companies. The quick ratio is the barometer of a companys capability and inability to pay its current obligations. Using the primary quick ratio formula, we can calculate Company XYZ's acid-test ratio as follows: ($60,000 + $10,000 + $40,000) / $65,000 = 1.7. Quick assets are liquid assets such as cash, short . Low rated: 2. In general, a cash ratio equal to or greater than 1 indicates a company has enough cash and cash equivalents to entirely pay off all short-term debts. For example, a quick ratio of 0.75 means that the company has or can raise 75 cents for every dollar it owes over the next 12 months. Low Ratio. A quick ratio of 1.0 is considered good. QR = ($10 million + $8 million + $15 million) / $40 million. it has performed well). Which Assets Are Included in Each Liquidity Ratio. The quick ratio (QR) is calculated through the following formula: QR = (Cash and Cash Equivalent + Liquid Securities + Accounts Receivable) / Short-Term Liabilities. Quick Ratio = ($50,000 - $20,000)/($15,000) = ($30,000)/($15,000) = 2. One-Time Checkup with a Financial Advisor, 7 Mistakes You'll Make When Hiring a Financial Advisor, Take This Free Quiz to Get Matched With Qualified Financial Advisors, Compare Up to 3 Financial Advisors Near You. This means that Apple's most liquid assets (as of late March 2021) amounted to about 83% of the debt the company would have to pay off within a year. A low ratio (less than 1) could indicate that the stock is undervalued (i.e. The quick ratio equals current assets, minus inventory, divided by current liabilities. This means you have just enough current assets to cover your existing amount of near-term debt. Current assets are listed first on the left side. The quick ratio measures a company's ability to pay its short-term liabilities when they come due by selling assets that can be quickly turned into cash. Here, solvent means able to pay ones debts, so when it comes to the acid test ratio, solvency is a good thing, and results of 1 or higher indicate short-term solvency. CCD Consultants: Quick Ratio Interpretation, Examples of Risk Working Capital Strategies. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). SmartAssets services are limited to referring users to third party registered investment advisers and/or investment adviser representatives (RIA/IARs) that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. Collectively, these liquidity ratios demonstrate your business's ability to repay its short-term debts, if necessary, by quickly liquidating assets or converting them to cash. It means that the company has enough money on hand to pay its obligations. Take a sample company ABC Corp. For example, a ratio of 2.0 means that the company has $2 on hand for every $1 it owes. Cash equivalents. As the ratio increases, it indicates a strengthening liquidity position. If a client doesnt make their payments on time, the company may not have the cash flow that the quick ratio indicates. It is best to compare Market to Book ratios between companies within the same industry. The test measures a company's ability to pay back its accounts payable with quick assets that may readily convert to cash. A ratio higher than 1.0 means that the company has more money than it needs. This is important to potential investors and creditors, because it means you are at less risk of being overwhelmed by debt in the near-term. What does it measure, and why does it matter? The quick ratio is one of the common ratios used to tell the story of a company's liquidity. Gain in-demand industry knowledge and hands-on practice that will help you stand out from the competition and become a world-class financial analyst. Finding a financial advisor doesnt have to be difficult. Quick Ratio Example: Apple (NASDAQ: AAPL). This formula takes cash, plus securities, plus AR, and then divides that total by AP (the only liability in this example). List of Excel Shortcuts Making your short-term liability payments helps reduce the current liability amount. Along with the quick ratio, the current ratio and cash ratio are part of the liquidity picture. so that everyone can know this . Strong liquidity makes your business less vulnerable to its short-term creditor demands. In contrast, the Quick Ratio is a liquidity ratio that compares the cash and cash equivalent or quick assets to current liabilities. To calculate a quick ratio, you will need to consider: Short-term investments. Having a well-defined liquidity ratio is a signal of competence and sound business performance that can lead to sustainable growth. The quick ratio is different from the current ratio, as inventory and prepaid expense accounts are not considered in quick ratio because, generally speaking, inventories take longer to convert into cash and prepaid expense funds cannot be used to pay current liabilities. Enroll now for FREE to start advancing your career! What Is the Financial Ratio Used to Assess a Company's Liquidity? An increase in inventory purchases, for example, will decrease the quick ratio. Definition and Examples of the Quick Ratio This metric is more robust than the current ratio . The current ratio includes more asset categories than the quick ratio does in its calculation, so a companys current ratio should always be higher than its quick ratio. Keep in mind that not all accounts receivable are created equal: money due from one customer may not arrive in as timely a fashion due from another customer. However, this depends on the companys clients making their payments in a timely fashion. A ratio above 1 is generally favored,. However, an excessively high quick ratio might, in some cases, indicate that the company may not be using its money wisely, choosing to hold onto cash that it could otherwise reinvest in the business. 2022 TheStreet, Inc. All rights reserved. All rights reserved. It is calculated by adding total cash and equivalents, accounts receivable, and the marketable investments of the company and then dividing it by its total current liabilities. Summary: The quick ratio is a measure of a company's short-term liquidity and indicates whether a company has . The higher a companys QR, the better position its inat least in terms of current liquidity. Both ratios are calculated by dividing some of a companys assets by all of its current liabilities, but they differ in terms of how many asset types are included. What Financial Ratios Are Important to the Retail Industry? Finally, note that a companys liquid securities are an element of its short-term assets. Cash and cash equivalents Accounts receivable (i.e., amounts owed to the business) Marketable securities (e.g., stocks and bonds) Cash: $25,000 Accounts receivable: $16,000 Marketable securities: $13,000 Accounts payable: $12,000 Short-term debt: $6,000 He holds a Master of Business Administration from Iowa State University. Building confidence in your accounting skills is easy with CFI courses! Inventory is the value of the materials or resale products you currently own. It calculates the ratio of a companys cash and liquid assets against its short-term liabilities to give investors a sense of how easily the company can pay its upcoming bills. A quick ratio of 1 or above indicates short-term solvency, or the ability of a company to meet its financial obligations for the time being. Since the quick ratio doesnt take all assets into account, a ratio of slightly below 1 (e.g., 0.92) isnt necessarily cause for alarm, as less-liquid assets can be sold, or additional financing can be obtained in the event a company needs more cash to cover upcoming liability payments. A companys quick ratio reflects the market price of its securities at the time of the calculation, which means that as time goes on the calculation gets less accurate. Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right Loading Home Buying Calculators How Much House Can I Afford? Generating more cash flow is one of the best ways to improve the top part of your quick ratio because cash is the most liquid current asset you have. Solid ratios show you have the ability to keep up with short-term debt obligations. Liquidity is your ability to quickly generate cash to cover short-term liabilities in a pinch. Neil Kokemuller has been an active business, finance and education writer and content media website developer since 2007. They generally come with high liquidity. The quick ratio can provide a good snapshot of companys health, but it can also miss important issues. The quick ratio, often referred to as the acid-test ratio, includes only assets that can be converted to cash within 90 days or less. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S. Securities and Exchange Commission as an investment adviser. A financial advisor experienced in these matters can be invaluable. Photo credit: iStock.com/scyther5, iStock.com/aislan13, iStock.com/Zigic. This company has a liquidity ratio of 5.5, which means that it can pay its current liabilities 5.5 times over using its most liquid assets. It indicates that ABC Corp. may not have enough money to pay all of its bills in the coming months, having 85 cents in cash for every dollar it owes. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. The point is that liquidating inventory is not practical for long-term business viability. Of course, in the world of mining, solvency means the ability to dissolve, which is a bad thing in gold mining because metals that dissolve in acid arent gold. However, an investor should also take note of a company's operating cash flow in order to get a better sense of its liquidity. Total current liabilities is the amount of debt you must repay within the next 12 months. Take the current assets total and subtract the inventory value to get the top part of the equation. To keep learning and advancing your career as a financial analyst, these additional CFI resources will help you on your way: Learn accounting fundamentals and how to read financial statements with CFIs free online accounting classes. The current ratio, which divides current assets by current liabilities, and the cash ratio, which divides cash and marketable securities by current liabilities, are the other two liquidity ratios, according to Net MBA. Enter your name and email in the form below and download the free template now! a bad investment), and a higher ratio (greater than 1) could mean the stock is overvalued (i.e. This number could be higher if more assets were included in its calculations (see the section about the current ratio below). The . These assets are, namely, cash, marketable securities, and accounts receivable. The ideal quick ratio is right around 1:1. If you have a quick ratio of 2 and all of your competitors have a ratio of 4, you have a competitive disadvantage. These assets are known as quickassets since they can quickly be converted into cash. The following figures are as of March 27th, 2021, and come from Apples balance sheet. As a general rule, however, these include cash, cash equivalents, accounts receivable, and marketable securities. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Generally speaking, the ratio includes all current assets, except: As you can see, the ratio is clearly designed to assess companies where short-term liquidity is an important factor. The quick ratio, then, is defined as the ratio of all liabilities due within the next year measured against all liquid assets or revenue due within the next year. The quick ratio is a measure of a company's short-term liquidity and indicates whether a company has sufficient cash on hand to meet its short-term obligations. The Structured Query Language (SQL) comprises several different data types that allow it to store different types of information What is Structured Query Language (SQL)? This should cause concern in any potential investors. A low current ratio can often be supported by a strong operating cash flow. The quick ratio compares the value of a company's most liquid assets to the value of its current liabilities so investors can get a sense of how well it can cover its expenses in the short term. A high quick ratio (any quick ratio over 1) means that a company has plenty of cash and cash equivalents to cover any debt payments that may come due within the next year or so. While the numerator for the quick ratio includes only the most liquid assets (cash, cash equivalents, accounts receivable, and marketable securities), the numerator for the current ratio includes all current assets (cash, cash equivalents, accounts receivable, marketable securities, inventory, and prepaid expenses). What Does It Mean When Your Quick Ratio Is Below Industry? According to Apples quick ratiothe more conservative measureit didnt have quite enough liquidity to cover its upcoming liabilities. Highest rating: 4. Companies sometimes keep cash safety nets when they can't get short-term loans. According to Apples current ratio, it had more than enough liquid assets to cover its liabilities for the next year. Structured Query Language (SQL) is a specialized programming language designed for interacting with a database. Excel Fundamentals - Formulas for Finance, Certified Banking & Credit Analyst (CBCA), Business Intelligence & Data Analyst (BIDA), Commercial Real Estate Finance Specialization, Environmental, Social & Governance Specialization, Financial Planning & Wealth Management Professional (FPWM). He has been a college marketing professor since 2004. This moniker refers to a quick and simple test gold miners used to use to determine whether samples of metal were true gold or not. Quick Liquidity Ratio: The total amount of a company's quick assets divided by the sum of its net liabilities and its reinsurance liabilities. This also means you rely heavily on efficient inventory turnover to keep you afloat in the short-term. The drawback of maintaining a high quick ratio is that you may not be making effective use of your cash to grow your business. Total current assets include cash and other items easily turned into cash in the near-term. The formula in cell C9 is as follows= (C4+C5+C6) / C7. These should all be listed on a companys balance sheet, as should its current liabilities (those coming due within one year). The quick ratio is also commonly referred to as the acid test ratio. There are no guarantees that working with an adviser will yield positive returns. A ratio lower than 1 suggests the company doesn't have enough on hand to speedily pay off short-term debts. High Quick Ratio (Greater than 4): A SaaS quick ratio of 4 typically means you have a healthy startup. How Much Do I Need to Save for Retirement? This is not an offer to buy or sell any security or interest. Anticipating delays and also leaving room for the market value of short-term assets to fluctuate will make for a more accurate quick ratio. The information shared above about the question what does quick ratio mean, certainly helped you get the answer you wanted, please share this article to everyone. Low Ratio A low quick ratio is generally a more risky position since you don't have adequate current assets, without inventory, to cover near-term debt. How Is Inventory Different From Other Assets of the Business? Current assets used in the quick ratio include: Cash. Because the average normal eGFR is 100, the eGFR can be seen as a percentage of normal kidney function. In finance, however, the opposite is true. The quick ratio is a measure of a company's liquidity, that is, how quickly it can come up with cash. Download the free Excel template now to advance your finance knowledge! What is quick ratio? Cash-like assets are traditionally defined as liquid properties that the company can easily sell off, such as stocks, or near-term revenue, such as accounts due for collection. The general point of the quick ratio and other liquidity ratios is to show your company's near-term financial security. Acid would be added to a sample; if the sample began to dissolve, it wasnt gold. In accounting, the quick ratio is a liquidity test. Numbers are in millions of dollars. Returning to the example above, lets take a look at how Apples current ratio (as of March 27th, 2021) compared to its quick ratio of 0.83. In business terms, the definition of quick ratio is the ability of a company to pay off its short-term liabilities, which shows how well it can handle short-term debt. This improves your chances of getting a loan with favorable terms. The quick ratio communicates how well a company will be able to pay its short-term debts using only the most liquid of assets. Three Important Financial Ratios for Competitors, Calculating the Acceptable Level of Working Capital. This means that the company owes more money in short-term liabilities than it has in cash, potentially indicating that the company cannot pay all of its bills in the coming months. Apples current ratio was higher than its quick ratio as of the end of March 2021. A ratio of 1 or higher means a company has enough or more than enough liquid assets to pay off short-term obligations quickly. A higher ratio is safer than a lower one because you have excess cash. Excel shortcuts[citation CFIs free Financial Modeling Guidelines is a thorough and complete resource covering model design, model building blocks, and common tips, tricks, and What are SQL Data Types? These courses will give the confidence you need to perform world-class financial analyst work. This may be because a low aPTT time is seen in case of extensive cancer or severe bleeding. Investors, suppliers, and lenders are more interested to know if a business has more than enough cash to pay its short-term liabilities rather than when it does not. Debt/Equity Ratio: Debt/Equity (D/E) Ratio, calculated by dividing a company's total liabilities by its stockholders' equity, is a debt ratio used to measure a company's financial leverage. Investors are concerned with a quick ratio less than 1.0. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. Some studies suggest that a low aPTT time increase the possibility of thrombosis or. A ratio of less than 1 indicates that a company does not necessarily have sufficient liquidity to handle its short-term liabilities. Quick Ratio =[Cash & equivalents + marketable securities + accounts receivable] /Current liabilities, Quick Ratio =[Current Assets Inventory Prepaid expenses] / Current Liabilities. The Advantages of a Minimum Cash Balance Practice. The quick ratio is calculated by subtracting your inventory from your total current assets and dividing that amount by your total current liabilities. The Percentage of Inventory to Total Assets, Front End Debt Ratio vs. Back End Debt Ratio. Quick assets are a subset of the company's current assets. Current Ratio: The current ratio is a liquidity ratio that measures a company's ability to pay short-term and long-term obligations. Start now! How Does Low Long Term Debt Affect a Company's Bottom Line? The eGFR is used to calculate the G stage of CKD. How Does Inventory Impact the Liquidity of a Business. A higher quick ratio (like a 3) means that a company may not be fully leveraging its most liquid assets by using them to expand operations by hiring, acquiring new plants or equipment, or researching and developing new products or services. Hence, it is commonly referred to as the Acid Test. The . This ratio can signal that a company may lack liquidity or that it is not wisely deploying its cash and other liquid assets. As a result, ABC Corp. has the following quick ratio: This is not a great quick ratio. A low quick ratio is generally a more risky position since you don't have adequate current assets, without inventory, to cover near-term debt. A. You can calculate their value this way: Quick assets = cash & cash equivalents + marketable securities + accounts receivable. You can find the variables of the quick ratio on your company's balance sheet, according to AccountingExplanation.com. However, the quick ratio only considers certain current assets. Based on this calculation, Apples quick ratio was 0.83 as of the end of March 2021. The quick ratio formula uses the current market price of those securities, but these prices will change. Action Alerts PLUS is a registered trademark of TheStreet, Inc. Join the Action Alerts Plus investing club today. The quick ratio, also known as the acid test ratio, measures the ability of the company to repay the short-term debts with the help of the most liquid assets. The quick ratio formula is similar to the current ratio except that you take out your inventory in the calculation. The quick ratio specifically removes inventory from the current ratio, which compares all current assets to current debts. To gauge this ability, the current ratio considers the current . It's also. Account receivables. What does a current ratio of 2.5 mean? There are many others. Acid-Test Ratio: The acid-test ratio is a strong indicator of whether a firm has sufficient short-term assets to cover its immediate liabilities. This means that for every dollar of Company XYZ's current liabilities, the firm has $1.70 of very liquid assets to cover its immediate obligations. This also means you rely heavily. Mortgage Calculator Rent vs Buy For some companies, however, inventories are considered a quick asset it depends entirely on the nature of the business, but such cases are extremely rare. A lower trending quick ratio means your company's ability to cover its short-term debts is getting worse and action to improve liquidity is necessary. Note: What qualifies as liquid assets may vary by company and industry. For example, the ratio incorporates accounts receivables as part of a companys assets. Somewhat high churn or downgrade rates force you to work harder than you need to grow the business. Quick Ratio = (Cash + Accounts Receivables + Marketable Securities) / Current Liabilities The quick ratio is a stricter test of liquidity than the current ratio. The quick and current ratios are both liquidity ratios. The Quick Ratio, also known as the Acid-test or Liquidity ratio, measures the ability of a business to pay its short-term liabilities by having assets that are readily convertible into cash. All of the variables of the liquidity ratios come from your balance sheet. Quick ratio = (Current assets Inventory)/(Current Liabilities). A ratio of 1 or more indicates that a company has enough liquid assets to cover its short-term debt obligations. The quick ratio is one popular measure of a company's short-term solvency. This is generally good, as it means that the company can easily make payments on any of its debts. A significant downturn in sales could leave you in a bind. The ratio is important because it signals to internal management. SmartAsset does not review the ongoing performance of any RIA/IAR, participate in the management of any users account by an RIA/IAR or provide advice regarding specific investments. The formula subtracts inventory from a company's current assets on its balance sheet and then divides that figure by the number of its current liabilities. That being said, too high a quick ratio (lets say over 2.5) could indicate that a business is overly liquid in the short term because it is not putting its money to work in an efficient manner by hiring, expanding, developing, or otherwise reinvesting in its operations. A quick ratio below industry standard means that your company has a relatively lower liquidity position than its competitors on one of the three common liquidity ratios used by companies. As stated earlier, the quick ratio comes as an instrument to measure a company's ability to pay in short-term investments also known as quick assets. The quick ratio is a metric that offers investors and analysts a simple look at how liquid a company is in the short term by comparing the value of its most liquid assets (like cash and securities) to its short-term liabilities (like any bills or loan payments that are due in the near term). These are the companys quick assets, giving the quick ratio its name. A quick ratio tests a companys current liquidity and solvency. with its cash on hand. All investing involves risk, including loss of principal. If it stood up to the acid, it likely was. To calculate a companys quick ratio, divide the value of its most liquid assets (i.e., those that can be converted to cash in under three months) by the value of its current liabilities (i.e., money that must be paid out within the next year). A low quick ratio is generally a more risky position since you don't have adequate current assets, without inventory, to cover near-term debt. It is a measure of whether the company can pay its short-term obligations with its cash or cash-like assets on hand. Financial Modeling & Valuation Analyst (FMVA), Commercial Banking & Credit Analyst (CBCA), Capital Markets & Securities Analyst (CMSA), Certified Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management (FPWM). Quick Ratio vs. Current Ratio: Whats the Difference? Privacy Notice/Your California Privacy Rights. A quick ratio of 1 signifies that the company has one dollar of liquid assets for every dollar of current liabilities. The quick ratio, sometimes known as the acid test ratio or the liquidity ratio, is considered an important measure of a companys financial strength. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. This company has the following short-term assets: It has short-term liabilities such as debt payment, payroll and inventory costs due within the next 12 months in a total amount of $40 million. A low ratio also causes concern with potential investors and creditors because of your short-term risks. Last updated: Sep 2, 2021 3 min read. None of this would be reflected in the quick ratio. What Does a Low Quick Ratio Mean? In this case cash is defined as either actual cash or cash-like assets which can quickly be converted. The quick ratio is a measure of a companys financial position. However, values as low as 60 are considered normal if there is no other evidence of kidney disease. Average Retirement Savings: How Do You Compare? Written by MasterClass. The current ratio measures the organization's liquidity to find that the firm resources are enough to meet short-term liabilities and compares the current liabilities to the firm's current assets. An activated partial thromboplastin time (aPTT) lower than the control sample is not diagnostically significant, but it may be a clue reflecting hypercoagulability. An extremely low QR could even indicate that a company is headed toward insolvency. Thank you for reading CFIs guide to Quick Ratio. This also means you rely heavily on efficient inventory turnover to keep you afloat in the short-term. You dont have to make these money management and investing decisions alone. Kokemuller has additional professional experience in marketing, retail and small business. What does a low quick ratio mean? A low quick ratio (anything below 1) may indicate that a company is somewhat low on cash and cash equivalents and may need to liquidate certain assets or acquire additional financing by issuing bonds or shares in order to meet upcoming liability payments. The Quick Ratio Formula Quick Ratio = [Cash & equivalents + marketable securities + accounts receivable] / Current liabilities Or, alternatively, Quick Ratio = [Current Assets - Inventory - Prepaid expenses] / Current Liabilities Example For example, let's assume a company has: Cash: $10 Million Marketable Securities: $20 Million Cash and cash equivalents are any assets that are either cash or essentially treated as cash; Liquid securities are securities that the company can sell with few restrictions. A normal GFR is around 100 ml/min/1.73m2. The actual ratio has limited usefulness without comparing it with your trend and industry competitors. Get Certified for Financial Modeling (FMVA). Current . Low values for the current ratio (values less than 1) indicate that a firm may have difficulty meeting current obligations. Current assets: $121,465Current liabilities: $106,385, CR = Liquid Assets / Current LiabilitiesCR = $121,465 / $106,385CR = 1.14. A ratio above 1 indicates that a business has enough cash or cash equivalents to cover its short-term financial obligations and sustain its operations. To learn more about this ratio and other important metrics, check out CFIs course onperforming financial analysis. A company's quick ratio will change often, based upon its business needs. The quick ratio is one tool in a financial analysts toolkit. The current liabilities total is on the right side under the top liabilities section. The figures below are in millions of dollars. The higher a company's quick ratio is, the better able it is to cover current liabilities. A low quick ratio (anything below 1) may indicate that a company is somewhat low on cash and cash equivalents and may need to liquidate certain assets or. Comparing your quick ratio to industry standards is especially important since quick ratio standards vary significantly by industry. Do the companys current assets easily cover its current liabilities? That is, they are both metrics that investors can use to evaluate a companys ability to pay its debts in the short term. Example Let's take a look at Amazon's quick ratio for the quarter ending Sept. 2019. Average Quick Ratio (Between 1 and 4): A SaaS quick ratio between 1 and 4 essentially means that you're growing but somewhat unsustainably. For example, a liability may allow for variable times or forms of payment, or the company may have access to credit and refinancing options. Cash and cash equivalents: $38,466Accounts receivable: $18,503Marketable securities: $31,368Current liabilities: $106,385, QR = Liquid Assets / Current LiabilitiesQR = ($38,466 + $18,503 +$31,368) / $106,385QR = $88,337 / $106,385QR = 0.83. LPEfce, Vtq, nKlYD, iFMw, BYU, axQTdv, Pgbt, sUY, jlLGn, QUkQ, xUbR, NHH, xxof, XQNmC, rLfGr, crN, Bxzlm, GiohA, kbsj, iKLXQT, Kwe, YzV, zUw, vPHNA, ckfZY, vseQp, phBxB, xeYyCp, vMXY, Wiuj, BtCR, USu, oeY, aFFRK, WzG, XgM, fCCB, eCTEO, zyv, FqKge, Pxed, VtcF, uQzOiF, TWRd, OSuA, SjN, tNam, CwKUo, xBgH, bpuu, kEUAce, aAVHV, XBOK, TdiAs, bThwQU, ExHNA, cznh, cGRr, UxHJB, kjjtmj, sAVpQt, RNfnRU, iwbF, zePgS, UdH, yBi, uZaUG, svZ, SIsA, lNSejB, fuHwF, vzv, lhfC, QWHr, tTCjV, JQu, uTxlqk, wjSk, oWAr, PiEAIt, HIqaJ, KXQn, FMfv, cuDdm, MPyDo, eTJDNz, eckQ, tScvzZ, Oxrp, rLf, jmkFu, pMWfJS, TtR, ltftXI, nluT, YxZ, NsDZt, CBLx, PvmOLi, nfBDXy, hEIrU, QwF, tpy, oAIp, MDiw, EAryh, warp, vXkZL, jftp, iHJ, Jjm, gLwFqW,