• Thursday, July 25, 2024
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Chart of the Day acid test ratio of Nigeria’s downstream oil firm

Chart of the Day acid test ratio of Nigeria’s downstream oil firm

According to Investopedia, the acid-test ratio compares a company’s most short-term assets to its most short-term liabilities to see if a company has enough cash to pay its immediate liabilities, such as short-term debt.

Conoil’s high ratio shows improved liquidity and sound financial standing.