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. RetinalGenix Technologies's current ratio for the quarter that ended in Mar. 2024 was 0.03.
RetinalGenix Technologies has a current ratio of 0.03. It indicates that the company may have difficulty meeting its current obligations. Low values, however, do not indicate a critical problem. If RetinalGenix Technologies has good long-term prospects, it may be able to borrow against those prospects to meet current obligations.
The historical rank and industry rank for RetinalGenix Technologies's Current Ratio or its related term are showing as below:
RTGN'
s Current Ratio Range Over the Past 10 Years
Min: 0.01 Med: 0.06 Max: 0.43
Current: 0.03
During the past 4 years, RetinalGenix Technologies's highest Current Ratio was 0.43. The lowest was 0.01. And the median was 0.06.
RTGN's Current Ratio is not ranked
in the Medical Devices & Instruments industry.
Industry Median: 2.66
vs RTGN: 0.03
RetinalGenix Technologies Current Ratio Historical Data
* 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 RetinalGenix Technologies's Current Ratio
For the Medical Devices subindustry, RetinalGenix Technologies'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.
RetinalGenix Technologies's Current Ratio Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, RetinalGenix Technologies's Current Ratio distribution charts can be found below:
* The bar in red indicates where RetinalGenix Technologies's Current Ratio falls into.
RetinalGenix Technologies 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.
RetinalGenix Technologies'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.
RetinalGenix Technologies (OTCPK:RTGN) 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.
RetinalGenix Technologies Current Ratio Related Terms
Thank you for viewing the detailed overview of RetinalGenix Technologies's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
RetinalGenix Technologies (RetinalGenix Technologies) Business Description
RetinalGenix Technologies Inc is an ophthalmic research and development company focused on developing technologies to screen, monitor, diagnose, and treat ocular, optical, and sight-threatening disorders, Its mission is to prevent vision loss and blindness due to diabetic retinopathy and maculopathy through early detection from the use of two devices: (1) Retinal Imaging Screening Device (RetinalGenixTM), being designed as a portable, high-resolution retinal imaging Diabetic screening system providing a 200-degree field of view without requiring pupil dilation; and (2) RetinalCamTM, being designed as a high-resolution home monitoring retinal imaging device and physician alert system offering real-time communication with physicians available 24/7.
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