National Fuel Gas Company (NFG)

Cash ratio

		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	Dec 31, 2019
Cash and cash equivalents	US$ in thousands	38,222	81,414	50,769	41,685	55,447	53,415	71,533	244,475	46,048	432,576	52,569	79,065	31,528	118,012	80,467	109,413	20,541	556,264	111,655	34,966
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	244,475	46,048	432,576	52,569	79,065	31,528	118,012	80,467	109,413	—	—	—	—
Total current liabilities	US$ in thousands	1,095,890	516,638	727,924	807,245	806,312	665,700	917,300	1,535,040	1,942,570	2,166,450	2,006,160	896,139	1,236,130	600,602	402,972	906,183	459,573	342,360	583,818	546,462
Cash ratio		0.03	0.16	0.07	0.05	0.07	0.08	0.08	0.32	0.05	0.40	0.05	0.18	0.05	0.39	0.40	0.24	0.04	1.62	0.19	0.06

September 30, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($38,222K + $—K) ÷ $1,095,890K
= 0.03

The cash ratio of National Fuel Gas Company has experienced fluctuations over the past few quarters, ranging from a low of 0.03 to a high of 1.62. The cash ratio measures a company's ability to cover its short-term liabilities with its available cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations.

In the most recent quarter, as of September 30, 2024, the company's cash ratio was 0.03, indicating that it had $0.03 in cash and cash equivalents for every $1 of current liabilities. This suggests a relatively low level of liquidity compared to previous quarters.

It is important to note the significant fluctuations in the cash ratio throughout the periods provided. A cash ratio of 1.62 in the third quarter of 2019 indicates that the company had more than enough liquid assets to cover its short-term obligations at that time. However, the ratio has since decreased, signaling a potential decrease in liquidity or an increase in short-term obligations.

Overall, a declining trend in the cash ratio may raise concerns about the company's ability to meet its short-term obligations with its available cash reserves. Further analysis of the company's financial health and cash management practices would be necessary to fully understand the implications of these fluctuations.