National Fuel Gas Company (NFG)

Current 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
Total current assets	US$ in thousands	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	362,623	403,296	506,297
Total current liabilities	US$ in thousands	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	421,908	395,925	432,998
Current ratio		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	0.86	1.02	1.17

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $453,602K ÷ $807,245K
= 0.56

The current ratio of National Fuel Gas Co. has varied over the past eight quarters, ranging from a low of 0.33 in Q2 2022 to a high of 0.61 in Q3 2023. In general, the current ratio measures the company's ability to meet its short-term obligations with its current assets. A ratio below 1 indicates that the company may have difficulty meeting its short-term liabilities, while a ratio above 1 suggests a strong ability to cover current obligations.

The company's current ratio has shown some volatility, with fluctuations observed across different quarters. The lowest ratio of 0.33 in Q2 2022 indicates a potential liquidity concern, as the company's current assets may not be adequate to cover its short-term liabilities. In contrast, the highest ratio of 0.61 in Q3 2023 suggests an improvement in the company's ability to meet its short-term obligations.

Overall, the trend in National Fuel Gas Co.'s current ratio indicates some variability in its short-term liquidity position. It would be important to further investigate the underlying reasons for these fluctuations to assess the company's financial health and ability to manage its short-term liabilities effectively.