Magnolia Oil & Gas Corp (MGY)

Current 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
Total current assets	US$ in thousands	591,273	805,748	814,840	820,346	850,747	898,960	750,480	530,252	517,918	376,753	312,861	289,218	281,526	214,862	182,504	229,245	293,218	292,255	230,497	203,245
Total current liabilities	US$ in thousands	314,887	303,705	263,000	311,244	340,273	341,972	333,027	238,734	218,545	190,685	167,949	125,935	128,949	124,462	120,313	170,700	175,208	190,311	201,131	184,460
Current ratio		1.88	2.65	3.10	2.64	2.50	2.63	2.25	2.22	2.37	1.98	1.86	2.30	2.18	1.73	1.52	1.34	1.67	1.54	1.15	1.10

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $591,273K ÷ $314,887K
= 1.88

The current ratio of Magnolia Oil & Gas Corp has shown fluctuations over the past years. The current ratio measures the company's ability to pay its short-term obligations using its current assets.

In the most recent quarter, the current ratio was 1.88, indicating the company had $1.88 in current assets for every $1 in current liabilities. This implies a healthy liquidity position.

Looking at the trend over the past few quarters, the current ratio has varied between 1.10 and 3.10. A ratio below 1 suggests potential liquidity issues, while a ratio above 1 indicates the company is able to meet its short-term obligations.

Overall, the company has demonstrated a generally strong ability to cover its short-term liabilities with its current assets, as indicated by the current ratio values that have mostly been above 1.5 in recent years. Investors and creditors typically view a higher current ratio as favorable, as it signifies a stronger liquidity position.