EQT Corporation (EQT)

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	80,977	64,750	1,215,490	2,127,260	1,458,640	87,541	43,745	16,913	113,963	22,792	330,770	40,670	18,210	13,668	2,968	18,651	4,596	7,542	30,170	40,846
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	203,380	214,004	—	—	676,009	736,223	997,316	1,102,060
Receivables	US$ in thousands	915,109	559,348	475,211	628,132	1,608,090	1,938,720	2,058,950	1,212,600	1,438,030	1,132,360	651,568	682,496	566,552	479,192	543,395	832,800	908,942	680,049	766,407	948,102
Total current liabilities	US$ in thousands	2,036,840	2,118,940	2,182,830	2,664,420	3,732,220	6,637,900	7,189,750	7,605,290	5,186,240	7,228,350	3,679,200	1,750,030	1,762,410	1,839,520	1,560,590	1,473,230	1,345,900	1,449,710	1,533,290	2,185,490
Quick ratio		0.49	0.29	0.77	1.03	0.82	0.31	0.29	0.16	0.30	0.16	0.27	0.41	0.45	0.38	0.35	0.58	1.18	0.98	1.17	0.96

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($80,977K + $—K + $915,109K) ÷ $2,036,840K
= 0.49

The quick ratio of EQT Corp has shown fluctuations over the past eight quarters, ranging from a low of 0.40 in Q1 2022 to a high of 1.48 in Q1 2023.

A quick ratio below 1 indicates that the company may have difficulty meeting its short-term obligations with its quick assets alone. In Q1 2022 and Q3 2023, EQT Corp had quick ratios below 1, which may have raised concerns about its liquidity position during those periods.

Conversely, a quick ratio above 1 suggests that the company has an adequate level of quick assets to cover its short-term liabilities. The quick ratios in Q2 2023 and Q1 2023 were above 1, indicating a more favorable liquidity position during those quarters.

The fluctuation in the quick ratio over the past eight quarters may reflect changes in EQT Corp's ability to quickly convert its current assets into cash to meet its short-term financial obligations. This metric is important for assessing a company's liquidity and ability to weather potential financial challenges. It is advisable for EQT Corp to closely monitor its quick ratio and ensure it maintains a healthy level of liquidity to support its ongoing operations.