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.


Peer comparison

Dec 31, 2023