One Gas Inc (OGS)

Quick 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	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
Receivables	US$ in thousands	347,864	177,467	234,409	493,573	553,834	192,741	242,671	494,696	341,756	118,383	160,647	279,591	292,985	106,777	138,885	234,327	250,012	130,768	169,801	338,082
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
Quick ratio		0.25	0.12	0.17	0.33	0.47	0.18	0.11	0.21	0.36	0.17	1.00	0.32	0.38	0.20	0.30	0.32	0.31	0.21	0.32	0.55

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 measures a company's ability to meet its short-term obligations using its most liquid assets. It is calculated by dividing quick assets (current assets excluding inventory) by current liabilities.

Based on the data provided for ONE Gas Inc, the quick ratio has fluctuated over the past eight quarters. In Q4 2023, the quick ratio stands at 0.32, indicating that the company has $0.32 in quick assets available for every $1 of current liabilities. This suggests a relatively weaker liquidity position compared to the previous quarter.

The quick ratio has experienced significant variations throughout the quarters, with the highest quick ratio of 0.90 observed in Q1 2022, indicating a strong liquidity position at that time. Conversely, the lowest quick ratio of 0.18 was recorded in Q3 2023, reflecting a lower ability to cover short-term obligations with liquid assets.

The declining trend in the quick ratio from Q1 2022 to Q4 2023 may raise concerns about the company's liquidity management and ability to meet its short-term financial obligations. Investors and stakeholders should closely monitor the company's liquidity position and assess the factors contributing to the fluctuations in the quick ratio to make informed decisions.