NOV Inc. (NOV)
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 | 816,000 | 513,000 | 592,000 | 774,000 | 1,069,000 | 998,000 | 1,218,000 | 1,406,000 | 1,591,000 | 1,668,000 | 1,572,000 | 1,607,000 | 1,692,000 | 1,485,000 | 1,447,000 | 1,115,000 | 1,171,000 | 1,313,000 | 1,121,000 | 1,270,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 50,000 | 45,000 | 47,000 | 51,000 | 59,000 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,905,000 | 1,982,000 | 1,891,000 | 1,776,000 | 1,739,000 | 1,623,000 | 1,582,000 | 1,465,000 | 1,321,000 | 1,280,000 | 1,258,000 | 1,265,000 | 1,274,000 | 1,382,000 | 1,502,000 | 1,879,000 | 1,855,000 | 1,799,000 | 1,973,000 | 1,793,000 |
| Total current liabilities | US$ in thousands | 2,435,000 | 2,369,000 | 2,385,000 | 2,308,000 | 2,437,000 | 2,247,000 | 2,171,000 | 1,979,000 | 1,910,000 | 1,853,000 | 1,810,000 | 1,934,000 | 1,867,000 | 1,884,000 | 1,954,000 | 2,163,000 | 2,247,000 | 2,276,000 | 2,221,000 | 2,103,000 |
| Quick ratio | 1.12 | 1.05 | 1.04 | 1.10 | 1.15 | 1.17 | 1.29 | 1.45 | 1.52 | 1.62 | 1.59 | 1.51 | 1.62 | 1.55 | 1.51 | 1.38 | 1.35 | 1.37 | 1.39 | 1.46 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($816,000K
+ $—K
+ $1,905,000K)
÷ $2,435,000K
= 1.12
The quick ratio of NOV Inc has been relatively stable over the past eight quarters, ranging from 1.43 to 1.77. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that the company has enough liquid assets to cover its current liabilities, which is generally considered a healthy sign.
In the latest quarter, Q4 2023, the quick ratio was 1.51, which suggests that NOV Inc had $1.51 in liquid assets available to cover each $1 of current liabilities. This indicates that the company is in a strong position to meet its short-term financial obligations. However, it is essential to continue monitoring the quick ratio over time to ensure the company's liquidity position remains stable and sustainable.
Peer comparison
Dec 31, 2023