ConocoPhillips (COP)
Quick 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 | 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 |
| Receivables | US$ in thousands | -3,000 | -3,000 | -3,000 | 13,000 | 11,000 | 14,000 | 70,000 | 70,000 | 125,000 | 127,000 | 121,000 | 139,000 | 116,000 | 131,000 | 1,532,000 | 2,264,000 | 3,401,000 | 3,616,000 | 3,651,000 | 3,869,000 |
| 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 |
| Quick ratio | 0.66 | 0.91 | 0.71 | 0.75 | 0.72 | 0.57 | 0.57 | 0.56 | 0.52 | 1.09 | 1.05 | 0.63 | 1.25 | 0.74 | 1.32 | 1.09 | 1.64 | 2.15 | 1.15 | 1.40 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($5,635,000K
+ $971,000K
+ $-3,000K)
÷ $10,005,000K
= 0.66
The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets.
Conoco Phillips' quick ratio has shown some fluctuations over the past eight quarters. In Q4 2023, the quick ratio was 1.29, which indicates that the company had $1.29 of liquid assets for every dollar of current liabilities. This ratio decreased from the previous quarter, where it was 1.53.
Overall, Conoco Phillips has maintained a quick ratio above 1, which is generally considered a healthy sign as it means the company has enough liquid assets to cover its short-term obligations. The fluctuation in the quick ratio over the quarters may indicate changes in the company's liquidity position, which could be influenced by factors such as changes in current assets or liabilities.
It is important for investors and stakeholders to monitor the quick ratio over time to assess Conoco Phillips' liquidity position and its ability to meet its short-term financial obligations.
Peer comparison
Dec 31, 2023