ConocoPhillips (COP)
Quick ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 5,607,000 | 5,221,000 | 4,294,000 | 5,574,000 | 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 | 2,991,000 | 2,991,000 | 2,490,000 | 2,907,000 | 3,908,000 |
| Short-term investments | US$ in thousands | 507,000 | 1,571,000 | 1,723,000 | 487,000 | 971,000 | 616,000 | 1,080,000 | 1,635,000 | 2,785,000 | 2,412,000 | 1,272,000 | 730,000 | 1,563,000 | 2,094,000 | 4,053,000 | 4,865,000 | 4,865,000 | 4,841,000 | 4,956,000 | 4,286,000 |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 12,124,000 | 10,765,000 | 10,324,000 | 10,163,000 | 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 | 5,366,000 | 5,366,000 | 4,640,000 | 4,105,000 | 6,075,000 |
| Quick ratio | 0.50 | 0.63 | 0.58 | 0.60 | 0.66 | 0.91 | 0.71 | 0.75 | 0.72 | 0.74 | 0.67 | 0.61 | 0.55 | 1.14 | 1.31 | 1.46 | 1.46 | 1.58 | 1.92 | 1.35 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($5,607,000K
+ $507,000K
+ $—K)
÷ $12,124,000K
= 0.50
The quick ratio of ConocoPhillips, which measures its ability to cover immediate short-term liabilities with its most liquid assets, has shown some fluctuations over the years.
From March 2020 to September 2021, the quick ratio remained relatively stable, ranging from 1.35 to 1.14, indicating a healthy liquidity position. However, in the following quarters through December 2022, the quick ratio decreased significantly to around 0.55, demonstrating a potential liquidity strain.
Subsequently, there was a slight recovery in the quick ratio, climbing to 0.75 by March 2023. However, the ratio fluctuated between 0.58 and 0.91 from June 2023 to September 2024, suggesting ongoing variability in the company's ability to meet short-term obligations with its quick assets.
Overall, the declining trend in the quick ratio from December 2021 to December 2024 may indicate the need for ConocoPhillips to closely monitor and manage its liquidity position to ensure financial stability and meet its short-term obligations effectively.
Peer comparison
Dec 31, 2024