DT Midstream Inc (DTM)
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 68,000 | 77,000 | 73,000 | 41,000 | 56,000 | 30,000 | 45,000 | 95,000 | 61,000 | 355,000 | 345,000 | 281,000 | 132,000 | 128,000 | 37,000 | 29,000 | 34,000 |
| Short-term investments | US$ in thousands | — | 4,000 | — | — | — | — | — | — | — | — | — | — | 1,691,000 | 1,687,000 | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 426,000 | 262,000 | 306,000 | 322,000 | 434,000 | 424,000 | 361,000 | 698,000 | 614,000 | 249,000 | 180,000 | 188,000 | 177,000 | 195,000 | 107,000 | 80,000 | 3,023,000 |
| Quick ratio | 0.16 | 0.31 | 0.24 | 0.13 | 0.13 | 0.07 | 0.12 | 0.14 | 0.10 | 1.43 | 1.92 | 1.49 | 10.30 | 9.31 | 0.35 | 0.36 | 0.01 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($68,000K
+ $—K
+ $—K)
÷ $426,000K
= 0.16
The quick ratio of DT Midstream Inc has shown fluctuations over the period from December 31, 2020, to December 31, 2024. The quick ratio indicates the company's ability to cover its short-term liabilities with its most liquid assets.
At the end of 2020, the quick ratio was very low at 0.01, suggesting that the company had minimal liquid assets to cover its current liabilities. However, we observed a significant improvement in the quick ratio in the following quarters, reaching a peak of 10.30 by December 31, 2021. This sharp increase indicates that DT Midstream Inc had a substantial amount of liquid assets available to cover its short-term obligations.
Subsequently, the quick ratio declined but remained at healthier levels above 1 from March 31, 2022, to September 30, 2024, ranging from 1.43 to 0.07. This suggests that the company maintained an adequate level of liquidity to meet its short-term liabilities during this period.
Overall, while the quick ratio has shown variability, particularly in the early periods, it stabilized at moderate levels in the later quarters, indicating that DT Midstream Inc had a sufficient level of liquid assets to cover its short-term obligations.
Peer comparison
Dec 31, 2024