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.
Peer comparison
Dec 31, 2023