O-I Glass Inc (OI)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 913,000 | 773,000 | 725,000 | 563,000 | 551,000 |
| Short-term investments | US$ in thousands | — | — | — | 673,000 | — |
| Receivables | US$ in thousands | 671,000 | 760,000 | 692,000 | 623,000 | 621,000 |
| Total current liabilities | US$ in thousands | 2,346,000 | 2,357,000 | 1,846,000 | 1,898,000 | 1,995,000 |
| Quick ratio | 0.68 | 0.65 | 0.77 | 0.98 | 0.59 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($913,000K
+ $—K
+ $671,000K)
÷ $2,346,000K
= 0.68
The quick ratio of O-I Glass Inc has exhibited fluctuations over the past five years. The ratio was 0.68 as of December 31, 2023, compared to 0.65 in the prior year, indicating a slight improvement in the company's short-term liquidity position. However, it was lower than the ratio of 0.77 reported in 2021. The quick ratio of 0.68 suggests that the company may face challenges in meeting its short-term obligations with its most liquid assets, as for every dollar of current liabilities, O-I Glass has $0.68 of quick assets readily available to cover them. The trend in the quick ratio should be monitored closely to assess O-I Glass Inc's continued ability to meet its short-term financial obligations efficiently.