Magnolia Oil & Gas Corp (MGY)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	401,121	675,441	366,982	192,561	182,633
Short-term investments	US$ in thousands	—	—	—	—	—
Receivables	US$ in thousands	189,705	170,770	149,769	81,559	105,775
Total current liabilities	US$ in thousands	314,887	340,273	218,545	128,949	175,208
Quick ratio		1.88	2.49	2.36	2.13	1.65

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($401,121K + $—K + $189,705K) ÷ $314,887K
= 1.88

The quick ratio of Magnolia Oil & Gas Corp has shown fluctuations over the past five years. The quick ratio measures the company's ability to cover its current liabilities with its most liquid assets. A quick ratio above 1 indicates that the company can meet its short-term obligations using its liquid assets.

In 2023, the quick ratio of 1.88 suggests that Magnolia Oil & Gas Corp had $1.88 in liquid assets available to cover each dollar of its current liabilities. This represents a slight decrease from the previous year's ratio of 2.49, indicating a less favorable liquidity position.

Compared to 2019 and 2020, where the quick ratio was 1.65 and 2.13 respectively, the company's liquidity position has improved in 2021 and 2022 with ratios of 2.36 and 2.49.

Overall, the trend in the quick ratio shows some variability, and further analysis would be needed to understand the factors driving these fluctuations and to assess the company's liquidity position in more depth.