National Fuel Gas Company (NFG)

Quick 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	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	—	—	—	—
Receivables	US$ in thousands	-10,673	-17,590	6,876	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
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
Quick ratio		0.03	0.12	0.08	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

September 30, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($38,222K + $—K + $-10,673K) ÷ $1,095,890K
= 0.03

The quick ratio of National Fuel Gas Company has fluctuated significantly over the past few quarters, ranging from as low as 0.03 to as high as 1.60.

A quick ratio of 0.03 indicates that the company may have limited ability to cover its current liabilities with its most liquid assets, which could raise concerns about its short-term liquidity position.

On the other hand, a quick ratio of 1.60 suggests the company has a significant amount of liquid assets that can be readily converted to cover its current liabilities, indicating a strong liquidity position.

The quick ratio showed relatively more stability in the latest quarters, hovering around 0.08 to 0.12. This suggests that the company has improved its ability to meet short-term obligations with its quick assets compared to the previous periods.

Overall, it is important for National Fuel Gas Company to maintain a healthy quick ratio to ensure it can meet its short-term financial obligations efficiently and effectively.