Akoya Biosciences has a quick ratio of 2.38. It generally indicates good short-term financial strength.
The historical rank and industry rank for Akoya Biosciences's Quick Ratio or its related term are showing as below:
AKYA'
s Quick Ratio Range Over the Past 10 Years
Min: 0.94 Med: 2.94 Max: 8.31
Current: 2.38
During the past 5 years, Akoya Biosciences's highest Quick Ratio was 8.31. The lowest was 0.94. And the median was 2.94.
AKYA's Quick Ratio is ranked better than 56.09% of 870
companies
in the Medical Devices & Instruments industry
Industry Median: 2.045
vs AKYA: 2.38
Akoya Biosciences Quick Ratio Historical Data
The historical data trend for Akoya Biosciences's Quick 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 Akoya Biosciences's Quick Ratio
For the Medical Instruments & Supplies subindustry, Akoya Biosciences's Quick Ratio, along with its competitors' market caps and Quick 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.
Akoya Biosciences's Quick Ratio Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Akoya Biosciences's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Akoya Biosciences's Quick Ratio falls into.
Akoya Biosciences Quick Ratio Calculation
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.
Akoya Biosciences's Quick 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.
Akoya Biosciences (NAS:AKYA) Quick Ratio Explanation
The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.
In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.
The higher the quick ratio, the better the company's liquidity position.
Akoya Biosciences Quick Ratio Related Terms
Thank you for viewing the detailed overview of Akoya Biosciences's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Akoya Biosciences (Akoya Biosciences) Business Description
Akoya Biosciences Inc is a life sciences technology company. It is delivering spatial biology solutions focused on transforming discovery and clinical research. The company offers the comprehensive, end-to-end solutions for high-parameter tissue analysis from discovery through clinical and translational research, enabling the development of more precise therapies for immuno-oncology and other drug development applications. The company has its geographical presence in North America, APAC and EMEA. It generates majority of the revenue from North America.
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