EOG Resources Inc (EOG)
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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 2,716,000 | 2,927,000 | 2,264,000 | 2,455,000 | 2,871,000 | 3,436,000 | 3,735,000 | 3,213,000 | 2,335,000 | 2,154,000 | 2,026,000 | 1,828,000 | 1,522,000 | 1,134,350 | 943,354 | 1,449,640 | 2,001,660 | 1,928,000 | 2,001,950 | 2,203,440 |
| 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 |
| Quick ratio | 1.96 | 1.95 | 1.88 | 1.77 | 1.60 | 1.52 | 1.18 | 1.15 | 1.87 | 1.85 | 1.48 | 1.57 | 1.40 | 1.39 | 1.56 | 1.01 | 0.90 | 0.78 | 0.72 | 0.78 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($5,278,000K
+ $—K
+ $2,716,000K)
÷ $4,074,000K
= 1.96
The quick ratio of EOG Resources, Inc. has shown a consistent trend of improvement over the quarters, indicating that the company has been enhancing its ability to meet its short-term obligations using its most liquid assets. Specifically, the quick ratio has steadily increased from 1.26 in Q1 2022 to 2.13 in Q4 2023. This suggests that EOG Resources has a strong ability to cover its current liabilities with its quick assets, such as cash, marketable securities, and accounts receivable, highlighting a strong liquidity position and potentially reduced risk of default in the short term. Overall, this positive trend in the quick ratio reflects positively on the company's financial health and ability to manage its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023