Hess Corporation (HES)
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 | 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 | 1,545,000 | 1,863,000 | 2,208,000 | 2,300,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 3,270,000 | 2,996,000 | 2,403,000 | 2,308,000 | 2,396,000 | 2,312,000 | 2,355,000 | 2,303,000 | 3,064,000 | 2,749,000 | 2,527,000 | 1,690,000 | 1,623,000 | 1,426,000 | 1,564,000 | 1,947,000 | 2,510,000 | 2,344,000 | 2,332,000 | 2,271,000 |
| Quick ratio | 0.52 | 0.67 | 0.93 | 0.91 | 1.04 | 1.03 | 0.92 | 0.59 | 0.89 | 0.88 | 0.96 | 1.10 | 1.07 | 0.90 | 1.05 | 1.07 | 0.62 | 0.79 | 0.95 | 1.01 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,688,000K
+ $—K
+ $—K)
÷ $3,270,000K
= 0.52
The quick ratio of Hess Corporation has been fluctuating over the past eight quarters. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio of less than 1 indicates that the company may have difficulty meeting its short-term obligations.
Looking at the data provided, we can see that the quick ratio has generally been above 1, which suggests that Hess Corporation has had sufficient liquid assets to cover its short-term liabilities. However, there has been a downward trend in the quick ratio from Q1 2023 to Q4 2023, with the ratio decreasing from 1.55 to 0.96. This decline may indicate a potential liquidity challenge for the company in the most recent quarter.
It is important to note that a quick ratio of 1.0 is typically considered the minimum acceptable level, indicating that the company has just enough liquid assets to cover its short-term liabilities. Therefore, while the quick ratio of Hess Corporation has shown some volatility, it is still generally above the acceptable threshold. However, stakeholders should closely monitor the trend in the quick ratio to assess the company's liquidity position accurately.
Peer comparison
Dec 31, 2023