O-I Glass Inc (OI)
Quick ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 734,000 | 755,000 | 671,000 | 395,000 | 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 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 673,000 | — | — | — |
| Receivables | US$ in thousands | 572,000 | 794,000 | 725,000 | 801,000 | 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 |
| Total current liabilities | US$ in thousands | 2,160,000 | 2,292,000 | 2,234,000 | 2,602,000 | 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 |
| Quick ratio | 0.60 | 0.68 | 0.62 | 0.46 | 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 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($734,000K
+ $—K
+ $572,000K)
÷ $2,160,000K
= 0.60
The quick ratio of O-I Glass Inc has fluctuated over the specified period, ranging from 0.46 to 0.98. The quick ratio, which measures the company's ability to meet its short-term obligations with its most liquid assets excluding inventory, indicates the company's short-term liquidity position.
From March 31, 2020, to December 31, 2022, the quick ratio generally remained within a moderate range of 0.65 to 0.98, reflecting a relatively stable ability to cover short-term liabilities. However, from March 31, 2024, there was a notable decline in the quick ratio to as low as 0.46 by March 31, 2024, which may raise concerns about the company's short-term liquidity position.
The downward trend in the quick ratio from 2023 to 2024 may suggest potential challenges in O-I Glass Inc's ability to meet its short-term obligations without relying on inventory. It would be essential for the company to closely monitor its liquidity position and consider strategies to improve the quick ratio to ensure financial stability and meet upcoming financial obligations effectively.