ConocoPhillips (COP)

Current 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
Total current assets	US$ in thousands	14,330,000	17,181,000	13,501,000	16,116,000	18,749,000	20,453,000	18,860,000	17,586,000	16,050,000	20,181,000	17,172,000	14,614,000	12,066,000	11,059,000	11,053,000	13,144,000	16,913,000	15,217,000	15,800,000	13,683,000
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
Current ratio		1.43	1.66	1.41	1.39	1.46	1.46	1.54	1.51	1.34	1.93	2.11	2.03	2.25	2.38	2.69	2.16	2.40	2.56	1.76	1.86

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $14,330,000K ÷ $10,005,000K
= 1.43

The current ratio of Conoco Phillips has shown some fluctuations over the past eight quarters. The ratio stood at 1.43 in Q4 2023, indicating that the company had $1.43 in current assets for every $1 of current liabilities. This was a slight decrease from the previous quarter's ratio of 1.66.

Throughout the past year, the current ratio has generally remained above 1, indicating that Conoco Phillips has been able to meet its short-term obligations using its current assets. While there were some variations in the ratio, ranging from 1.39 to 1.54, it remained relatively stable overall.

It is important to note that a current ratio above 1 signifies that the company has more current assets than current liabilities, which is typically considered a positive indicator of financial health. Overall, Conoco Phillips has maintained a relatively healthy current ratio over the past eight quarters.