One Gas Inc (OGS)

Current 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
Total current assets	US$ in thousands	765,204	564,365	587,289	788,469	1,217,610	958,426	2,148,870	2,274,470	2,224,560	752,890	603,711	1,158,670	539,869	369,704	347,389	407,667	506,202	389,683	376,812	516,270
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
Current ratio		0.52	0.36	0.40	0.51	1.02	0.87	0.92	0.96	2.27	1.05	1.63	1.32	0.68	0.64	0.71	0.53	0.58	0.57	0.65	0.78

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $765,204K ÷ $1,477,220K
= 0.52

The current ratio of ONE Gas Inc has shown fluctuations over the past eight quarters. The current ratio decreased from 1.02 in Q4 2022 to 0.52 in Q4 2023, reflecting a significant decline in liquidity. This downward trend continued in the subsequent quarters, reaching a low of 0.36 in Q3 2023.

The current ratio improved slightly in Q1 2023 to 0.51, but remained well below the ideal threshold of 1.0. It then increased further in Q2 2023 and Q3 2023 to 0.40 and 0.36 respectively. However, these ratios still indicate a potential liquidity challenge for the company.

Overall, the current ratio trend for ONE Gas Inc is concerning as it has been consistently below 1.0 in recent quarters, highlighting a potential risk in meeting short-term obligations. Further analysis and monitoring of the company's liquidity position are warranted to assess the underlying reasons for the decreasing current ratio and to ensure financial stability.