Hess Corporation (HES)
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 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 1,171,000 | 1,864,000 | 2,025,000 | 1,438,000 | 1,688,000 | 2,018,000 | 2,226,000 | 2,100,000 | 2,486,000 | 2,384,000 | 2,159,000 | 1,370,000 | 2,713,000 | 2,419,000 | 2,430,000 | 1,866,000 | 1,739,000 | 1,285,000 | 1,646,000 | 2,080,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 2,826,000 | 2,940,000 | 3,021,000 | 2,951,000 | 3,270,000 | 2,996,000 | 2,403,000 | 2,308,000 | 2,280,000 | 2,312,000 | 2,355,000 | 2,303,000 | 3,064,000 | 2,749,000 | 2,515,000 | 1,690,000 | 1,623,000 | 1,426,000 | 1,564,000 | 1,947,000 |
| Quick ratio | 0.41 | 0.63 | 0.67 | 0.49 | 0.52 | 0.67 | 0.93 | 0.91 | 1.09 | 1.03 | 0.92 | 0.59 | 0.89 | 0.88 | 0.97 | 1.10 | 1.07 | 0.90 | 1.05 | 1.07 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,171,000K
+ $—K
+ $—K)
÷ $2,826,000K
= 0.41
The quick ratio of Hess Corporation has shown fluctuations over the past few years, indicating changes in the company's liquidity position. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets.
From March 31, 2020, to December 31, 2021, the quick ratio remained relatively stable, ranging between 0.90 and 1.10. This suggests that the company had an adequate level of liquid assets to cover its current liabilities during this period.
However, from March 31, 2022, to December 31, 2024, the quick ratio declined significantly, indicating a potential decrease in the company's ability to meet its short-term obligations using its quick assets. The ratio dropped to as low as 0.41 by December 31, 2024, indicating a potential liquidity challenge for the company.
Overall, the decreasing trend in the quick ratio since March 2022 raises concerns about the company's short-term liquidity position and may warrant further investigation into the company's financial health and operational efficiency.
Peer comparison
Dec 31, 2024