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. Clearmind Medicine's current ratio for the quarter that ended in Jul. 2024 was 1.71.
Clearmind Medicine has a current ratio of 1.71. It generally indicates good short-term financial strength.
The historical rank and industry rank for Clearmind Medicine's Current Ratio or its related term are showing as below:
XCNQ:CMND'
s Current Ratio Range Over the Past 10 Years
Min: 0.06 Med: 2.62 Max: 62.87
Current: 1.71
During the past 7 years, Clearmind Medicine's highest Current Ratio was 62.87. The lowest was 0.06. And the median was 2.62.
XCNQ:CMND's Current Ratio is ranked worse than 71.13% of 1507
companies
in the Biotechnology industry
Industry Median: 3.72
vs XCNQ:CMND: 1.71
Clearmind Medicine Current Ratio Historical Data
The historical data trend for Clearmind Medicine'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 Clearmind Medicine's Current Ratio
For the Biotechnology subindustry, Clearmind Medicine'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.
Clearmind Medicine's Current Ratio Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Clearmind Medicine's Current Ratio distribution charts can be found below:
* The bar in red indicates where Clearmind Medicine's Current Ratio falls into.
Clearmind Medicine 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.
Clearmind Medicine's Current Ratio for the fiscal year that ended in Oct. 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.
Clearmind Medicine (XCNQ:CMND) 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.
Clearmind Medicine Current Ratio Related Terms
Thank you for viewing the detailed overview of Clearmind Medicine's Current Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Clearmind Medicine Inc is a psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods, or supplements. The company's intellectual portfolio currently consists of four patent families. The company intends to seek additional patents for its compounds whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio.
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