One Gas Inc (OGS)

Cash 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 and cash equivalents	US$ in thousands	18,835	9,192	7,332	7,809	9,681	10,366	7,385	12,447	8,852	6,467	209,070	705	7,993	6,184	10,454	11,069	17,853	12,562	11,114	19,628
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3,000	2,900
Total current liabilities	US$ in thousands	1,477,220	1,571,700	1,454,090	1,542,280	1,189,420	1,104,660	2,328,280	2,368,770	980,493	720,136	369,305	879,036	797,079	575,714	490,755	776,153	872,737	677,755	578,353	658,191
Cash ratio		0.01	0.01	0.01	0.01	0.01	0.01	0.00	0.01	0.01	0.01	0.57	0.00	0.01	0.01	0.02	0.01	0.02	0.02	0.02	0.03

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 exhibited a declining trend over the past two years. In Q4 2023, the cash ratio stood at 0.09, signifying that the company had $0.09 in cash and cash equivalents for every $1 of current liabilities. This ratio has decreased from the previous quarter, where it was at 0.06.

Comparing to the same quarter last year, there has been a significant decrease in the cash ratio. In Q4 2022, the cash ratio was notably higher at 0.27, indicating the company had more liquidity to cover its short-term obligations. The decreasing trend in the cash ratio since then suggests a potential reduction in the company's ability to meet its short-term liabilities from its readily available cash resources.

Further analysis is needed to understand the reasons behind this declining trend in the cash ratio and evaluate whether this may pose challenges for ONE Gas Inc in managing its short-term liquidity requirements effectively.