National Fuel Gas Company (NFG)

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	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	20,428	87,515	100,643
Short-term investments	US$ in thousands	—	—	—	—	244,475	46,048	432,576	52,569	79,065	31,528	118,012	80,467	109,413	—	—	—	—	—	—	—
Receivables	US$ in thousands	11,149	-19,673	-29,632	11,872	43,185	-10,153	-23,458	8,068	21,237	-14,639	-19,510	2,557	19,608	-5,508	-8,559	15,088	158,944	139,956	178,762	235,586
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
Quick ratio		0.07	0.04	0.04	0.09	0.35	0.04	0.39	0.06	0.20	0.04	0.36	0.41	0.26	0.03	1.60	0.22	0.35	0.38	0.67	0.78

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($41,685K + $—K + $11,149K) ÷ $807,245K
= 0.07

The quick ratio of National Fuel Gas Co. fluctuated over the past eight quarters, ranging from 0.26 to 0.54. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 indicates potential liquidity issues, as the company may struggle to cover its current liabilities with quick assets alone.

In Q1 2024, the quick ratio was 0.47, suggesting that the company had $0.47 in liquid assets available to cover each $1 of current liabilities. This represents an improvement from the previous quarter's ratio of 0.41.

The lowest quick ratio observed was in Q3 2022 at 0.26, indicating a potential liquidity challenge during that period. On the other hand, the highest quick ratio of 0.54 was recorded in Q2 2023, showing a better ability to cover short-term obligations with liquid assets.

Overall, the trend in National Fuel Gas Co.'s quick ratio fluctuates, indicating varying levels of liquidity and short-term solvency over the analyzed quarters. It would be essential for the company to monitor and manage its liquidity position effectively to ensure it can meet its short-term obligations as they come due.