ConocoPhillips (COP)
Cash ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 5,635,000 | 8,830,000 | 5,735,000 | 6,974,000 | 6,458,000 | 8,010,000 | 6,909,000 | 6,414,000 | 5,028,000 | 9,833,000 | 6,608,000 | 2,831,000 | 2,991,000 | 2,490,000 | 2,907,000 | 3,908,000 | 5,088,000 | 7,193,000 | 5,941,000 | 6,218,000 |
| Short-term investments | US$ in thousands | 971,000 | 616,000 | 1,080,000 | 1,635,000 | 2,785,000 | 0 | 0 | 0 | 1,117,000 | 1,416,000 | 1,802,000 | 1,564,000 | 3,609,000 | 809,000 | 971,000 | 420,000 | 3,028,000 | 1,951,000 | 732,000 | 249,000 |
| Total current liabilities | US$ in thousands | 10,005,000 | 10,338,000 | 9,548,000 | 11,553,000 | 12,847,000 | 13,997,000 | 12,216,000 | 11,624,000 | 12,021,000 | 10,449,000 | 8,150,000 | 7,184,000 | 5,366,000 | 4,640,000 | 4,105,000 | 6,075,000 | 7,043,000 | 5,942,000 | 8,996,000 | 7,370,000 |
| Cash ratio | 0.66 | 0.91 | 0.71 | 0.75 | 0.72 | 0.57 | 0.57 | 0.55 | 0.51 | 1.08 | 1.03 | 0.61 | 1.23 | 0.71 | 0.94 | 0.71 | 1.15 | 1.54 | 0.74 | 0.88 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($5,635,000K
+ $971,000K)
÷ $10,005,000K
= 0.66
The cash ratio of Conoco Phillips has shown some fluctuations over the past eight quarters, ranging from 0.73 to 0.99. The cash ratio measures the company's ability to cover its short-term obligations with its cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term liabilities using cash on hand.
In this case, the cash ratio has generally been above 0.75, with the highest ratio of 0.99 in Q3 2023 and the lowest ratio of 0.73 in Q1 2022. This indicates that Conoco Phillips has maintained a relatively healthy level of liquidity throughout the periods analyzed.
The fluctuations in the cash ratio may be due to various factors such as changes in operating cash flows, capital expenditures, debt repayments, or strategic decisions regarding cash management. Investors and analysts may want to further investigate the reasons behind these fluctuations to assess the company's overall financial health and liquidity position.
Peer comparison
Dec 31, 2023