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.