Could somebody post the formula and tell me what does it measure?
got it! Ratio showing how long a company can operate on its current liquid assets without having to rely on additional revenues. The ratio divides cash and equivalents, marketable securities, and accounts receivable (Defensive Assets) by projected daily operating expenses less Noncash Charges. The denominator is determined by dividing Cost of Goods Sold plus operating expenses and other ordinary cash expenses by 360.