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WK Kellogg Co (WK Kellogg Co) Quick Ratio : 0.43 (As of Mar. 2024)


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What is WK Kellogg Co Quick Ratio?

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. WK Kellogg Co's quick ratio for the quarter that ended in Mar. 2024 was 0.43.

WK Kellogg Co has a quick ratio of 0.43. It indicates that the company cannot currently fully pay back its current liabilities.

The historical rank and industry rank for WK Kellogg Co's Quick Ratio or its related term are showing as below:

KLG' s Quick Ratio Range Over the Past 10 Years
Min: 0.31   Med: 0.4   Max: 0.53
Current: 0.43

During the past 4 years, WK Kellogg Co's highest Quick Ratio was 0.53. The lowest was 0.31. And the median was 0.40.

KLG's Quick Ratio is ranked worse than
84.86% of 1916 companies
in the Consumer Packaged Goods industry
Industry Median: 1.025 vs KLG: 0.43

WK Kellogg Co Quick Ratio Historical Data

The historical data trend for WK Kellogg Co'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.

* Premium members only.

WK Kellogg Co Quick Ratio Chart

WK Kellogg Co Annual Data
Trend Dec20 Dec21 Dec22 Dec23
Quick Ratio
0.34 0.31 0.36 0.43

WK Kellogg Co Quarterly Data
Dec20 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Quick Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.37 0.53 0.44 0.43 0.43

Competitive Comparison of WK Kellogg Co's Quick Ratio

For the Packaged Foods subindustry, WK Kellogg Co'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.


WK Kellogg Co's Quick Ratio Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, WK Kellogg Co's Quick Ratio distribution charts can be found below:

* The bar in red indicates where WK Kellogg Co's Quick Ratio falls into.



WK Kellogg Co 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.

WK Kellogg Co's Quick Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Quick Ratio (A: Dec. 2023 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(706-345)/836
=0.43

WK Kellogg Co's Quick Ratio for the quarter that ended in Mar. 2024 is calculated as

Quick Ratio (Q: Mar. 2024 )=(Total Current Assets-Total Inventories)/Total Current Liabilities
=(664-328)/789
=0.43

* 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.


WK Kellogg Co  (NYSE:KLG) 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.


WK Kellogg Co Quick Ratio Related Terms

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WK Kellogg Co (WK Kellogg Co) Business Description

Traded in Other Exchanges
Address
One Kellogg Square, Battle Creek, MI, USA, 49016
Website
WK Kellogg is the second-largest cereal manufacturer in North America. Its cereal brands include Special K, Frosted Flakes, Raisin Bran, Froot Loops, Frosted Mini Wheats, Kashi, Corn Flakes, Rice Krispies, Apple Jacks, and Bear Naked. The company was spun off from the former Kellogg business, now known as Kellanova, where the former firm's global snacks portfolio and international cereal are now housed. WK Kellogg, which began trading in October 2023, generates the bulk of its sales (about 88% of its proforma fiscal 2022 base) from its home turf.
Executives
Sherry Brice officer: Chief Supply Chain Officer C/O WK KELLOGG CO, ONE KELLOGG SQUARE, BATTLE CREEK MI 49016
Norma Barnes-euresti director ONE KELLOGG SQUARE, BATTLE CREEK MI 49016
David Mckinstray officer: Chief Financial Officer ONE KELLOGG SQUARE, BATTLE CREEK MI 49016
Doug Vandevelde officer: Chief Growth Officer ONE KELLOGG SQUARE, BATTLE CREEK MI 49016
Gary H Pilnick director, officer: President
Bruce Alan Brown officer: Chief Customer Officer ONE KELLOGG SQUARE, BATTLE CREEK MI 49016
Michael Corbo director C/O COLGATE-PALMOLIVE COMPANY, 300 PARK AVENUE, NEW YORK NY 10022
Mindy Sherwood director C/O WK KELLOGG CO, ONE KELLOGG SQUARE, BATTLE CREEK MI 49016
Julio N Nemeth director ONE PROCTER & GAMBLE PLAZA, CINCINNATI OH 45202
R David Banyard director MYERS INDUSTRIES INC., 1293 SOUTH MAIN STREET, AKRON OH 44301
Ramon Murguia director ONE MICHIGAN AVENUE EAST, BATTLE CREEK MI 49017-4058
Kellogg W K Foundation Trust 10 percent owner 50 S. LA SALLE ST., B-10, CHICAGO IL 60603
Kellogg W K Foundation 10 percent owner
G Zachary Gund director 14 NASSAU STREET, PRINETON NJ 08542
Ellanova 10 percent owner 412 N WELLS ST, CHICAGO IL 60654