HF Sinclair Corp (DINO)
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 | ||
|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 1,353,750 | 2,214,750 | 1,614,620 | 1,364,930 | 1,665,070 | 1,447,360 | 1,702,290 | 592,278 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | 3,626 |
| Receivables | US$ in thousands | 1,781,650 | 1,978,380 | 1,742,520 | 1,660,660 | 1,756,710 | 1,836,820 | 2,293,830 | 2,266,120 |
| Total current liabilities | US$ in thousands | 2,774,550 | 3,477,220 | 2,887,910 | 3,117,730 | 3,245,530 | 3,242,290 | 4,066,120 | 3,611,600 |
| Quick ratio | 1.13 | 1.21 | 1.16 | 0.97 | 1.05 | 1.01 | 0.98 | 0.79 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,353,750K
+ $—K
+ $1,781,650K)
÷ $2,774,550K
= 1.13
The quick ratio of HF Sinclair Corp. has shown varying levels over the past eight quarters. The quick ratio indicates the company's ability to meet its short-term obligations using its most liquid assets.
In Q4 2023, the quick ratio stands at 1.16, indicating that the company has $1.16 of highly liquid assets available to cover each dollar of current liabilities. This suggests the company is in a strong position to meet its short-term obligations.
Looking back over the previous quarters, the quick ratio has generally been above 1, indicating a healthy liquidity position. The ratio peaked at 1.23 in Q3 2023, reflecting an improvement in the company's ability to cover its short-term liabilities.
In Q1 2023, the quick ratio declined to 1.00, indicating that the company may have had just enough liquid assets to cover its current liabilities. However, this improved in the subsequent quarters.
In comparison to the same quarter the previous year, Q4 2022 had a quick ratio of 1.09, suggesting an improvement in liquidity from the year before.
Overall, the trend in the quick ratio for HF Sinclair Corp. has been positive, with the company generally maintaining a healthy level of liquidity to meet its short-term obligations.