Helix Energy Solutions Group Inc (HLX)
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 | 332,191 | 168,370 | 182,651 | 166,674 | 186,604 | 162,268 | 260,595 | 229,744 | 253,515 | 237,549 | 243,911 | 204,802 | 291,320 | 259,334 | 178,367 | 159,351 | 208,431 | 286,340 | 261,142 | 220,023 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 280,427 | 308,023 | 255,329 | 218,039 | 212,779 | 258,095 | 183,366 | 171,300 | 172,942 | 164,888 | 153,087 | 162,366 | 162,015 | 187,014 | 194,482 | 164,102 | 75,646 | 104,707 | 105,916 | 128,072 |
| Total current liabilities | US$ in thousands | 448,618 | 390,275 | 382,712 | 288,033 | 297,955 | 330,475 | 232,726 | 256,985 | 278,283 | 258,278 | 274,984 | 218,433 | 279,307 | 276,538 | 286,721 | 279,552 | 284,960 | 312,412 | 332,629 | 248,820 |
| Quick ratio | 1.37 | 1.22 | 1.14 | 1.34 | 1.34 | 1.27 | 1.91 | 1.56 | 1.53 | 1.56 | 1.44 | 1.68 | 1.62 | 1.61 | 1.30 | 1.16 | 1.00 | 1.25 | 1.10 | 1.40 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($332,191K
+ $—K
+ $280,427K)
÷ $448,618K
= 1.37
The quick ratio, also known as the acid-test ratio, measures a company's ability to cover its short-term liabilities with its liquid assets. A quick ratio above 1 indicates that a company has enough liquid assets to cover its current liabilities.
Looking at the quick ratio of Helix Energy Solutions Group Inc over the past eight quarters, we observe some fluctuations in the ratio.
In Q4 2023, the quick ratio was 1.56, showing an improvement from the previous quarter's ratio of 1.42 in Q3 2023. This suggests that the company had a better ability to meet its short-term obligations with its liquid assets in the most recent quarter.
Comparing Q4 2023 to the same quarter in the previous year, where the quick ratio was 1.54, we note a slight increase in liquidity position.
Over the past two years, the quick ratio has generally been above 1, indicating that Helix Energy Solutions Group Inc has maintained a strong position in meeting its short-term liabilities with its quick assets.
It is also worth noting the significant increase in the quick ratio to 2.07 in Q2 2022, possibly due to high levels of liquid assets relative to current liabilities during that period.
Overall, based on the analysis of the quick ratio data, Helix Energy Solutions Group Inc appears to have a consistent ability to cover its short-term obligations with its liquid assets, reflecting a healthy liquidity position.
Peer comparison
Dec 31, 2023