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RXMD (Progressive Care) Current Ratio : 2.01 (As of Jun. 2024)


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What is Progressive Care Current Ratio?

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. Progressive Care's current ratio for the quarter that ended in Jun. 2024 was 2.01.

Progressive Care has a current ratio of 2.01. It generally indicates good short-term financial strength.

The historical rank and industry rank for Progressive Care's Current Ratio or its related term are showing as below:

RXMD' s Current Ratio Range Over the Past 10 Years
Min: 0.29   Med: 0.93   Max: 2.01
Current: 2.01

During the past 13 years, Progressive Care's highest Current Ratio was 2.01. The lowest was 0.29. And the median was 0.93.

RXMD's Current Ratio is ranked better than
66.91% of 680 companies
in the Healthcare Providers & Services industry
Industry Median: 1.39 vs RXMD: 2.01

Progressive Care Current Ratio Historical Data

The historical data trend for Progressive Care'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.

Progressive Care Current Ratio Chart

Progressive Care Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Current Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.51 0.73 0.93 1.71 1.72

Progressive Care Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
Current Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.83 1.61 1.72 1.69 2.01

Competitive Comparison of Progressive Care's Current Ratio

For the Pharmaceutical Retailers subindustry, Progressive Care'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.


Progressive Care's Current Ratio Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Progressive Care's Current Ratio distribution charts can be found below:

* The bar in red indicates where Progressive Care's Current Ratio falls into.



Progressive Care 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.

Progressive Care's Current Ratio for the fiscal year that ended in Dec. 2023 is calculated as

Current Ratio (A: Dec. 2023 )=Total Current Assets (A: Dec. 2023 )/Total Current Liabilities (A: Dec. 2023 )
=21.483/12.491
=1.72

Progressive Care's Current Ratio for the quarter that ended in Jun. 2024 is calculated as

Current Ratio (Q: Jun. 2024 )=Total Current Assets (Q: Jun. 2024 )/Total Current Liabilities (Q: Jun. 2024 )
=21.423/10.677
=2.01

* 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.


Progressive Care  (OTCPK:RXMD) 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.


Progressive Care Current Ratio Related Terms

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Progressive Care Business Description

Traded in Other Exchanges
N/A
Address
400 Ansin Boulevard, Suite A, Hallandale Beach, FL, USA, 33009
Progressive Care Inc is a personalized healthcare services and technology company that provides prescription pharmaceutical services, risk management, and data analytics to healthcare organizations and providers. The company through its wholly-owned subsidiary Pharmco, provides prescription pharmaceuticals, compounded medications, tele-pharmacy services, anti-retroviral medications, medication therapy management, the supply of prescription medications to long-term care facilities, and health practice risk management. It also offers certain disease testing and vaccinations. It offers services in a variety of languages, including English, Spanish, French, Creole, Portuguese, Ukrainian, and Russian.
Executives
Charles M. Fernandez director, 10 percent owner, officer: Chairman & CEO C/O FAIRHOLME CAPITAL MANAGEMENT, L.L.C., 4400 BISCAYNE BOULEVARD, 9TH FLOOR, MIAMI FL 33137
Rodney Barreto director, 10 percent owner 460 MARQUESA DRIVE, CORAL GABLES FL 33156
Pamela M Roberts officer: CHIEF OPERATING OFFICER 1540 NW 203 ST, MIAMI FL 33169
Pedro Rodriguez director 258 NE 27TH STREET, MIAMI FL 33137
Birute Norkute officer: Chief Operating Officer 2311 NE 174TH ST, MIAMI FL 33160
Alan Jay Weisberg officer: CHIEF FINANCIAL OFFICER 2500 NORTH MILITARY TRAIL, SUITE 206, BOCA RATON FL 33431
Cecile Munnik officer: CFO 400 ANSIN BLVD SUITE A, HALLANDALE BEACH FL 33009
Joseph Ziegler director 1051 HILLSBORO MILE, PH2, HILLSBORO BEACH FL 33062
Jervis Hough director 6053 BARTAM COVE, DULUTH GA 30097
Shital P Parikh director, officer: Chief Operating Officer 1111 PARK CENTER BLVD., SUITE 202, MIAMI GARDENS FL 33169
Vernon Watson officer: Chief Executive Officer 1111 PARK CENTER BLVD., SUITE 202, MIAMI GARDENS FL 33169
Armen Karapetyan 10 percent owner 17395 NORTH BAY ROAD, SUITE 102, SUNNY ISLES BEACH FL 33160
Avraham A. Friedman director, 10 percent owner, officer: Chief Executive Officer C/O PROGRESSIVE CARE INC., 901 N. MIAMI BEACH BLVD., SUITE 1, N. MIAMI BEACH FL 33162
Andy Subachan director, 10 percent owner, officer: Chief Operating Officer C/O PROGRESSIVE CARE INC., 901 N. MIAMI BEACH BLVD., SUITE 1, N. MIAMI BEACH FL 33162
Buddy Young director, 10 percent owner, officer: President, CEO, CFO, Chairman

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