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. Mag Mile Capital's current ratio for the quarter that ended in Dec. 2023 was 1.96.
Mag Mile Capital has a current ratio of 1.96. It generally indicates good short-term financial strength.
The historical rank and industry rank for Mag Mile Capital's Current Ratio or its related term are showing as below:
MMCP'
s Current Ratio Range Over the Past 10 Years
Min: 1.96 Med: 1.96 Max: 1.96
Current: 1.96
During the past 3 years, Mag Mile Capital's highest Current Ratio was 1.96. The lowest was 1.96. And the median was 1.96.
MMCP's Current Ratio is not ranked
in the Banks industry.
Industry Median: 2.625
vs MMCP: 1.96
Mag Mile Capital Current Ratio Historical Data
The historical data trend for Mag Mile Capital'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.
Competitive Comparison of Mag Mile Capital's Current Ratio
For the Mortgage Finance subindustry, Mag Mile Capital'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.
Mag Mile Capital's Current Ratio Distribution in the Banks Industry
For the Banks industry and Financial Services sector, Mag Mile Capital's Current Ratio distribution charts can be found below:
* The bar in red indicates where Mag Mile Capital's Current Ratio falls into.
Mag Mile Capital 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.
Mag Mile Capital's Current Ratio for the fiscal year 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.
Mag Mile Capital (OTCPK:MMCP) 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.
Mag Mile Capital Current Ratio Related Terms
Thank you for viewing the detailed overview of Mag Mile Capital's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Mag Mile Capital (Mag Mile Capital) Business Description
Mag Mile Capital Inc is a full-service commercial real estate mortgage banking firm. Mag Mile Capital is a national platform comprised of capital markets experience in real estate bridge financing, mezzanine, and permanent debt placement and equity arrangements throughout the full capital stack and across all major real estate asset classes, including hotels, multifamily, office, retail, industrial, healthcare, self-storage and special purpose properties, offering access to structured debt and equity advisory solutions and placement for real estate investors, developers, and entrepreneurs, It leverages a wide variety of lending relationships and equity capital connections as a leading national real estate mortgage intermediary.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
MMCP has been successfully added to your 