One Gas Inc (OGS)

Quick ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash	US$ in thousands	18,835	9,681	8,852	7,993	17,853
Short-term investments	US$ in thousands	—	—	—	—	—
Receivables	US$ in thousands	347,864	553,834	341,756	292,985	250,012
Total current liabilities	US$ in thousands	1,477,220	1,189,420	980,493	797,079	872,737
Quick ratio		0.25	0.47	0.36	0.38	0.31

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($18,835K + $—K + $347,864K) ÷ $1,477,220K
= 0.25

The quick ratio of ONE Gas Inc has fluctuated significantly over the past five years. In 2023, the quick ratio dropped to 0.32, indicating a weaker ability to meet its short-term obligations using its most liquid assets. This significant decrease from the previous year's ratio of 0.73 raises concerns about the company's liquidity position.

Comparing 2023 to 2022, there was a notable decline in the quick ratio, suggesting a decrease in the company's ability to cover its current liabilities without relying on its inventory.

In 2021, the quick ratio was relatively high at 2.03, representing a strong liquidity position and ability to meet short-term obligations with ease. This indicates a significant improvement in liquidity compared to the previous years.

The quick ratio of 0.49 in 2020 and 0.40 in 2019 reflects a moderate ability to cover short-term liabilities with liquid assets, but the ratios are comparatively lower than the peak in 2021.

Overall, the fluctuation in ONE Gas Inc's quick ratio over the past five years indicates varying levels of liquidity and highlights the importance of monitoring the company's ability to meet short-term obligations effectively.