Magnolia Oil & Gas Corp (MGY)
Quick ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 260,049 | 276,139 | 275,683 | 399,317 | 401,121 | 618,466 | 676,568 | 667,284 | 675,441 | 689,539 | 501,891 | 346,396 | 366,982 | 245,023 | 190,282 | 178,194 | 192,561 | 148,533 | 116,850 | 146,492 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 21,789 | — | — |
| Receivables | US$ in thousands | 147,901 | 136,207 | 175,426 | 196,004 | 189,705 | 186,763 | 137,379 | 151,571 | 170,770 | 207,718 | 247,402 | 179,652 | 149,769 | 130,100 | 119,241 | 107,229 | 81,559 | 61,243 | 60,525 | 77,744 |
| Total current liabilities | US$ in thousands | 290,261 | 281,523 | 354,959 | 350,011 | 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 |
| Quick ratio | 1.41 | 1.46 | 1.27 | 1.70 | 1.88 | 2.65 | 3.09 | 2.63 | 2.49 | 2.62 | 2.25 | 2.20 | 2.36 | 1.97 | 1.84 | 2.27 | 2.13 | 1.86 | 1.47 | 1.31 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($260,049K
+ $—K
+ $147,901K)
÷ $290,261K
= 1.41
The quick ratio of Magnolia Oil & Gas Corp has shown fluctuations over the given time period, ranging from a low of 1.27 to a high of 3.09. The quick ratio measures the company's ability to meet its short-term liabilities with its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities.
From March 31, 2020, to June 30, 2023, the quick ratio generally trended upward, indicating an improvement in the company's liquidity position. However, there was a slight decline in the ratio from June 30, 2023, to December 31, 2024.
The highest quick ratio of 3.09 was recorded on June 30, 2023, suggesting the company had a significant amount of liquid assets compared to its current liabilities at that time. On the other hand, the lowest quick ratio of 1.27 was reported on June 30, 2024, indicating a potential liquidity strain.
Overall, a quick ratio above 1.0 for most periods implies that Magnolia Oil & Gas Corp has maintained a healthy liquidity position, which is essential for meeting its short-term obligations. However, the declining trend towards the end of the period may warrant further monitoring to ensure the company's continued ability to meet its short-term obligations.
Peer comparison
Dec 31, 2024