Owens Corning Inc (OC)
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 | 1,615,000 | 1,323,000 | 968,000 | 757,000 | 1,099,000 | 751,000 | 810,000 | 748,000 | 959,000 | 920,000 | 888,000 | 605,000 | 717,000 | 647,000 | 582,000 | 234,000 | 172,000 | 35,000 | 92,000 | 82,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | 38,000 | 29,000 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 987,000 | 1,300,000 | 1,413,000 | 1,388,000 | 961,000 | 1,304,000 | 1,358,000 | 1,395,000 | 939,000 | 1,141,000 | 1,226,000 | 1,167,000 | 919,000 | 1,016,000 | 986,000 | 931,000 | 770,000 | 977,000 | 986,000 | 1,040,000 |
| Total current liabilities | US$ in thousands | 2,324,000 | 1,826,000 | 1,832,000 | 1,933,000 | 2,104,000 | 2,014,000 | 1,974,000 | 1,999,000 | 1,697,000 | 1,686,000 | 1,637,000 | 1,467,000 | 1,440,000 | 1,351,000 | 1,393,000 | 1,430,000 | 1,329,000 | 1,261,000 | 1,325,000 | 1,275,000 |
| Quick ratio | 1.12 | 1.44 | 1.30 | 1.11 | 0.98 | 1.04 | 1.11 | 1.07 | 1.12 | 1.22 | 1.29 | 1.21 | 1.14 | 1.23 | 1.13 | 0.81 | 0.71 | 0.80 | 0.81 | 0.88 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,615,000K
+ $—K
+ $987,000K)
÷ $2,324,000K
= 1.12
The quick ratio provides insight into Owens Corning's ability to meet its short-term financial obligations with its most liquid assets.
The quick ratio for Owens Corning fluctuated over the past eight quarters, ranging from a low of 1.03 in Q4 2022 to a high of 1.49 in Q3 2023. The quick ratio has generally been above 1, indicating that Owens Corning had an adequate level of liquid assets to cover its current liabilities.
The quick ratio shows a slight downward trend in the most recent quarters, with a noticeable decrease from 1.49 in Q3 2023 to 1.17 in Q4 2023. This decline may signal a potential weakening in the company's ability to quickly convert its current assets into cash to meet short-term obligations.
Overall, while the quick ratio for Owens Corning has shown some variability, it has generally remained at a healthy level above 1, suggesting that the company has maintained a strong liquidity position in the short term.