Galileo Mining (ASX:GAL) Current Ratio : 31.14 (As of Dec. 2023)

Galileo Mining Current Ratio Chart

Galileo Mining Semi-Annual Data
	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Current Ratio	Get a 7-Day Free Trial							25.57	12.90	29.16	10.85	31.14

Competitive Comparison of Galileo Mining's Current Ratio

For the Other Industrial Metals & Mining subindustry, Galileo Mining's Current Ratio, along with its competitors' market caps and Current 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.

Galileo Mining's Current Ratio Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Galileo Mining's Current Ratio distribution charts can be found below:

* The bar in red indicates where Galileo Mining's Current Ratio falls into.

Galileo Mining Current Ratio Calculation

The current ratio is mainly used to give an idea of the company's ability to pay back its short-term liabilities with its short-term assets.

Galileo Mining's Current Ratio for the fiscal year that ended in Jun. 2023 is calculated as

Galileo Mining's Current Ratio for the quarter 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.

Galileo Mining  (ASX:GAL) Current Ratio Explanation

The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations. Because business operations differ in each industry, it is always more useful to compare companies within the same industry.

Acceptable current ratios vary from industry to industry and are generally between 1 and 3 for healthy businesses.

The higher the current ratio, the more capable the company is of paying its obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point. While this shows the company is not in good financial health, it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign.

If all other things were equal, a creditor, who is expecting to be paid in the next 12 months, would consider a high current ratio to be better than a low current ratio, because a high current ratio means that the company is more likely to meet its liabilities which fall due in the next 12 months.

Galileo Mining Current Ratio Related Terms

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Galileo Mining (ASX:GAL) Business Description