One Gas Inc (OGS)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 18,835 | 9,681 | 8,852 | 7,993 | 17,853 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 1,477,220 | 1,189,420 | 980,493 | 797,079 | 872,737 |
| Cash ratio | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($18,835K
+ $—K)
÷ $1,477,220K
= 0.01
The cash ratio of ONE Gas Inc has shown variations over the past five years. In 2023, the cash ratio was 0.09, indicating that the company had $0.09 in cash and cash equivalents for every $1 of current liabilities. This represents a significant decrease compared to 2022 when the ratio was 0.27. The cash ratio was highest in 2021 at 1.68, suggesting that the company had a substantial amount of cash to cover its short-term obligations. However, in 2020 and 2019, the cash ratios were 0.13 and 0.10 respectively, indicating relatively lower levels of liquidity compared to 2021.
The decreasing trend in the cash ratio from 2021 to 2023 may suggest a potential concern regarding the company's ability to cover its short-term liabilities with its available cash and cash equivalents. Investors and stakeholders may want to further investigate the reasons behind this decrease and assess the company's liquidity position in more detail.
Peer comparison
Dec 31, 2023