Murphy USA Inc (MUSA)

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	117,800	124,800	92,900	102,100	60,500	192,700	240,400	356,200	256,400	301,300	165,000	304,100	163,600	317,500	403,600	200,300	280,300	247,700	178,600	180,400
Short-term investments	US$ in thousands	7,100	8,500	13,000	13,500	17,900	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	336,700	344,200	270,700	264,700	281,700	257,700	296,800	260,400	195,700	208,400	260,200	182,100	168,800	142,700	161,300	136,300	172,900	164,300	236,300	227,300
Total current liabilities	US$ in thousands	872,800	827,200	815,300	772,000	854,200	755,500	852,700	840,800	675,300	718,900	696,400	675,000	531,100	513,400	553,700	457,900	505,000	516,900	578,800	533,300
Quick ratio		0.53	0.58	0.46	0.49	0.42	0.60	0.63	0.73	0.67	0.71	0.61	0.72	0.63	0.90	1.02	0.74	0.90	0.80	0.72	0.76

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($117,800K + $7,100K + $336,700K) ÷ $872,800K
= 0.53

The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. A higher quick ratio indicates a stronger ability to cover short-term liabilities.

Looking at Murphy USA Inc's quick ratio over the past eight quarters, we can see some fluctuations. In Q4 2023, the quick ratio was 0.56, showing a slight decrease compared to the previous quarter. This suggests that the company may have faced some challenges in meeting its short-term obligations with its liquid assets during this period.

Historically, the quick ratio has ranged from 0.48 to 0.77 over the past two years. The highest quick ratio was observed in Q2 2022 at 0.77, indicating a strong ability to cover short-term liabilities with liquid assets. On the other hand, the lowest quick ratio was seen in Q4 2022 at 0.48, which may have indicated some liquidity concerns at that time.

Overall, while there have been fluctuations in Murphy USA Inc's quick ratio over the past eight quarters, the company generally maintains a quick ratio above 1, which is considered healthy. However, management should continue to monitor the quick ratio to ensure the company's liquidity remains strong and is able to meet its short-term obligations efficiently.