The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. MAG Silver's quick ratio for the quarter that ended in Dec. 2023 was 15.04.
MAG Silver has a quick ratio of 15.04. It generally indicates good short-term financial strength.
The historical rank and industry rank for MAG Silver's Quick Ratio or its related term are showing as below:
MAG'
s Quick Ratio Range Over the Past 10 Years
Min: 11.98 Med: 84.43 Max: 190.78
Current: 15.04
During the past 13 years, MAG Silver's highest Quick Ratio was 190.78. The lowest was 11.98. And the median was 84.43.
MAG's Quick Ratio is ranked better than 89.11% of 2673
companies
in the Metals & Mining industry
Industry Median: 1.79
vs MAG: 15.04
MAG Silver Quick Ratio Historical Data
The historical data trend for MAG Silver'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 MAG Silver's Quick Ratio
For the Silver subindustry, MAG Silver'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.
MAG Silver's Quick Ratio Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, MAG Silver's Quick Ratio distribution charts can be found below:
* The bar in red indicates where MAG Silver's Quick Ratio falls into.
MAG Silver 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.
MAG Silver'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.
MAG Silver (AMEX:MAG) 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.
MAG Silver Quick Ratio Related Terms
Thank you for viewing the detailed overview of MAG Silver's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
MAG Silver Corp is a Canadian mining company. It is focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district-scale, silver-dominant projects in the Americas. Its principal focus and asset are the Juanicipio Project (44%), being developed in a JV partnership with Fresnillo Plc (56%). Juanicipio is located in the Fresnillo Silver Trend in Mexico, and the JV is constructing and developing the surface and underground infrastructure on the property to support a 4,000tpd mining operation. Also, MAG has an expanded exploration program targeting multiple prospective targets at both Juanicipio and the Deer Trail 100% earn-in prloject in Utah.
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