O-I Glass Inc (OI)
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 | 913,000 | 792,000 | 754,000 | 480,000 | 773,000 | 523,000 | 661,000 | 519,000 | 725,000 | 628,000 | 531,000 | 742,000 | 563,000 | 606,000 | 1,067,000 | 891,000 | 551,000 | 273,000 | 371,000 | 326,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | 673,000 | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 671,000 | 766,000 | 984,000 | 997,000 | 760,000 | 892,000 | 957,000 | 900,000 | 692,000 | 793,000 | 855,000 | 714,000 | 623,000 | 724,000 | 696,000 | 767,000 | 621,000 | 968,000 | 1,275,000 | 939,000 |
| Total current liabilities | US$ in thousands | 2,346,000 | 2,070,000 | 2,131,000 | 2,255,000 | 2,357,000 | 2,096,000 | 1,785,000 | 1,750,000 | 1,846,000 | 1,738,000 | 1,687,000 | 1,702,000 | 1,898,000 | 1,697,000 | 1,886,000 | 1,824,000 | 1,995,000 | 2,195,000 | 1,929,000 | 1,860,000 |
| Quick ratio | 0.68 | 0.75 | 0.82 | 0.65 | 0.65 | 0.68 | 0.91 | 0.81 | 0.77 | 0.82 | 0.82 | 0.86 | 0.98 | 0.78 | 0.93 | 0.91 | 0.59 | 0.57 | 0.85 | 0.68 |
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 shown some fluctuations over the past five years, ranging from a low of 0.57 to a high of 0.98. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term obligations using liquid assets alone.
The ratio has generally been above 0.65, indicating that the company has had an acceptable level of liquidity to cover its short-term liabilities. However, it is important to note that a quick ratio of less than 1 may suggest that the company relies heavily on inventory in its current assets, which may not be easily converted into cash in times of need.
Overall, O-I Glass Inc's quick ratio has shown some variability, but has generally been within a reasonable range over the past five years, reflecting a relatively stable liquidity position.