Devon Energy Corporation (DVN)
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 | 853,000 | 654,000 | 372,000 | 761,000 | 1,314,000 | 1,166,000 | 3,300,000 | 2,459,000 | 2,099,000 | 2,144,000 | 1,348,000 | 1,683,000 | 2,047,000 | 1,707,000 | 1,474,000 | 1,527,000 | 1,464,000 | 1,375,000 | 3,470,000 | 1,327,000 |
| Short-term investments | US$ in thousands | — | -670,329 | -674,325 | — | — | — | — | — | — | 388 | 398 | 402 | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,846,000 | 2,115,000 | 1,768,000 | 1,889,000 | 1,962,000 | 2,280,000 | 2,582,000 | 2,219,000 | 1,739,000 | 1,689,000 | 1,343,000 | 1,270,000 | 683,000 | 574,000 | 698,000 | 815,000 | 1,013,000 | 976,000 | 1,067,000 | 1,207,000 |
| Total current liabilities | US$ in thousands | 2,949,000 | 3,330,000 | 2,669,000 | 2,931,000 | 3,105,000 | 3,460,000 | 4,094,000 | 3,754,000 | 3,087,000 | 3,505,000 | 3,072,000 | 2,945,000 | 1,440,000 | 1,709,000 | 1,452,000 | 1,554,000 | 1,927,000 | 1,658,000 | 3,467,000 | 1,968,000 |
| Quick ratio | 0.92 | 0.63 | 0.55 | 0.90 | 1.06 | 1.00 | 1.44 | 1.25 | 1.24 | 1.09 | 0.88 | 1.00 | 1.90 | 1.33 | 1.50 | 1.51 | 1.29 | 1.42 | 1.31 | 1.29 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($853,000K
+ $—K
+ $1,846,000K)
÷ $2,949,000K
= 0.92
The quick ratio for Devon Energy Corp. has ranged from 0.89 to 1.55 over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term liabilities with its current liquid assets.
The quick ratio trend for Devon Energy Corp. has been fluctuating, with a noticeable decline from Q4 2022 (1.19) to Q2 2023 (0.90), followed by a slight improvement in Q4 2023 (0.99). Despite this improvement, the quick ratio remains below the ideal benchmark of 1, indicating a potential liquidity risk.
Overall, Devon Energy Corp. may need to monitor its liquidity position closely and consider strategies to improve its ability to meet short-term obligations efficiently.
Peer comparison
Dec 31, 2023