Oceaneering International Inc (OII)

Cash 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 and cash equivalents	US$ in thousands	461,566	556,427	504,019	504,977	568,745	427,507	368,412	438,019	538,114	447,725	456,087	442,743	452,016	358,777	333,509	307,460	373,655	340,323	355,838	341,763
Short-term investments	US$ in thousands	0	0	6,369	6,369	6,369	6,369	5,774	6,200	6,416	6,665	6,914	9,164	10,179	10,179	10,179	10,179	10,179	10,179	10,179	10,179
Total current liabilities	US$ in thousands	732,476	800,474	615,044	575,228	568,414	515,725	472,739	465,435	501,161	451,246	479,523	416,743	437,116	431,175	452,444	485,733	600,956	510,414	491,044	500,311
Cash ratio		0.63	0.70	0.83	0.89	1.01	0.84	0.79	0.95	1.09	1.01	0.97	1.08	1.06	0.86	0.76	0.65	0.64	0.69	0.75	0.70

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($461,566K + $0K) ÷ $732,476K
= 0.63

The cash ratio for Oceaneering International, Inc. has been relatively stable over the past eight quarters, ranging from 1.04 to 1.45. This ratio indicates the company's ability to cover its short-term liabilities with its available cash and cash equivalents.

A cash ratio of 1.04 in Q4 2023 suggests that the company had $1.04 in cash and cash equivalents for every $1 of its current liabilities at that time. The gradual increase in the cash ratio from Q4 2022 to Q1 2023 indicates an improving liquidity position as the company accumulated more cash relative to its short-term obligations.

Overall, Oceaneering International, Inc. appears to have maintained a healthy level of liquidity throughout the periods mentioned, with the ability to meet its immediate financial obligations comfortably. Investors and stakeholders may view the consistent cash ratio as a positive indicator of the company's financial health and ability to weather short-term financial challenges.