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.