EOG Resources Inc (EOG)
Cash 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 and cash equivalents | US$ in thousands | 5,278,000 | 5,326,000 | 4,764,000 | 5,018,000 | 5,972,000 | 5,272,000 | 3,073,000 | 4,009,000 | 5,209,000 | 4,293,000 | 3,880,000 | 3,388,000 | 3,329,000 | 3,065,560 | 2,416,500 | 2,907,000 | 2,028,000 | 1,583,100 | 1,160,480 | 1,135,810 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | 1,000 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 4,074,000 | 4,225,000 | 3,731,000 | 4,228,000 | 5,513,000 | 5,746,000 | 5,768,000 | 6,264,000 | 4,042,000 | 3,484,000 | 4,002,000 | 3,312,000 | 3,460,000 | 3,020,040 | 2,154,380 | 4,305,010 | 4,486,990 | 4,473,710 | 4,414,060 | 4,301,270 |
| Cash ratio | 1.30 | 1.26 | 1.28 | 1.19 | 1.08 | 0.92 | 0.53 | 0.64 | 1.29 | 1.23 | 0.97 | 1.02 | 0.96 | 1.02 | 1.12 | 0.68 | 0.45 | 0.35 | 0.26 | 0.26 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($5,278,000K
+ $—K)
÷ $4,074,000K
= 1.30
The cash ratio of EOG Resources, Inc. has been increasing steadily over the past eight quarters, indicating an improvement in the company's ability to cover its short-term obligations with its cash and cash equivalents. As of Q4 2023, the cash ratio stands at 1.46, which means the company has $1.46 in cash and cash equivalents for every $1 of current liabilities.
The upward trend in the cash ratio reflects EOG Resources' strong liquidity position and ability to meet its immediate financial obligations without relying heavily on external financing. It suggests that the company has sufficient liquid assets to weather any short-term financial challenges that may arise.
Overall, the consistent increase in the cash ratio demonstrates prudent financial management by EOG Resources, Inc., indicating a reduced risk of liquidity problems in the near future. However, it is important for the company to maintain this positive momentum to sustain its liquidity position in the long term.
Peer comparison
Dec 31, 2023