The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated as a company's Total Current Assets divides by its Total Current Liabilities. Omnia Metals Group's current ratio for the quarter that ended in Dec. 2023 was 4.83.
Omnia Metals Group has a current ratio of 4.83. It indicates the company may not be efficiently using its current assets or its short-term financing facilities. This may also indicate problems in working capital management.
The historical rank and industry rank for Omnia Metals Group's Current Ratio or its related term are showing as below:
ASX:OM1'
s Current Ratio Range Over the Past 10 Years
Min: 4.83 Med: 10.5 Max: 15.59
Current: 4.83
During the past 2 years, Omnia Metals Group's highest Current Ratio was 15.59. The lowest was 4.83. And the median was 10.50.
ASX:OM1's Current Ratio is not ranked
in the Metals & Mining industry.
Industry Median: 2.08
vs ASX:OM1: 4.83
Omnia Metals Group Current Ratio Historical Data
The historical data trend for Omnia Metals Group's Current 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.
Omnia Metals Group Current Ratio Chart
Omnia Metals Group Annual Data
Trend
Jun22
Jun23
Current Ratio
15.59
6.78
Omnia Metals Group Semi-Annual Data
Jun22
Dec22
Jun23
Dec23
Current Ratio
15.59
14.22
6.78
4.83
Competitive Comparison of Omnia Metals Group's Current Ratio
For the Other Industrial Metals & Mining subindustry, Omnia Metals Group'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.
Omnia Metals Group's Current Ratio Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Omnia Metals Group's Current Ratio distribution charts can be found below:
* The bar in red indicates where Omnia Metals Group's Current Ratio falls into.
Omnia Metals Group 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.
Omnia Metals Group's Current Ratio for the fiscal year that ended in Jun. 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.
Omnia Metals Group (ASX:OM1) 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.
Omnia Metals Group Current Ratio Related Terms
Thank you for viewing the detailed overview of Omnia Metals Group's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Omnia Metals Group Ltd is a mineral exploration company focused on exploring copper, nickel, platinum group elements (PGE), and gold. The company holds interest in the Ord Basin Project and the Albany-Fraser Project. Its operating segment includes Exploration and evaluation - in Australia, Exploration and evaluation - in Canada, and Other sectors in corporate.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ASX:OM1 has been successfully added to your