National Fuel Gas Company (NFG)

Current 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
Total current assets	US$ in thousands	355,919	398,732	419,003	453,602	414,428	407,287	543,358	872,830	761,131	1,150,340	671,116	567,190	522,449	439,557	457,184	453,439	314,198	831,708	496,270	430,696
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
Current ratio		0.32	0.77	0.58	0.56	0.51	0.61	0.59	0.57	0.39	0.53	0.33	0.63	0.42	0.73	1.13	0.50	0.68	2.43	0.85	0.79

September 30, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $355,919K ÷ $1,095,890K
= 0.32

The current ratio of National Fuel Gas Company has fluctuated over the past several quarters, ranging from a low of 0.32 to a high of 2.43. A current ratio below 1 indicates that the company may have difficulty meeting its short-term obligations with its current assets. The downward trend in the current ratio from Dec 31, 2019, to Mar 31, 2022, suggests potential liquidity challenges during that period.

There was a significant improvement in the current ratio from Mar 31, 2022, to Mar 31, 2023, indicating better short-term liquidity management. However, the ratio declined again from Mar 31, 2023, to Sep 30, 2024, reaching a low of 0.32 as of the latest available data. This downward trend raises concerns about the company's ability to cover its current liabilities with its current assets effectively.

Overall, National Fuel Gas Company's current ratio has shown inconsistency and volatility, and further analysis of its financial performance and liquidity position is recommended to better understand the company's current financial health and potential risks.