Oceaneering International Inc (OII)

Liquidity ratios

	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
Current ratio	1.78	1.82	2.24	2.27	2.28	2.37	2.43	2.46	2.37	2.63	2.56	2.79	2.68	2.61	2.50	2.37	2.07	2.29	2.43	2.44
Quick ratio	1.08	1.18	1.43	1.44	1.53	1.59	1.52	1.61	1.61	1.66	1.66	1.77	1.74	1.62	1.54	1.42	1.34	1.42	1.51	1.47
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

Oceaneering International, Inc.'s liquidity ratios indicate the company's ability to meet its short-term obligations. The current ratio, which measures the company's ability to cover its short-term liabilities with its short-term assets, has shown a declining trend over the past four quarters, from 2.46 in Q1 2022 to 1.78 in Q4 2023. Despite the decline, the current ratio has remained above 1, indicating that Oceaneering International, Inc. has sufficient current assets to cover its current liabilities.

The quick ratio, a more stringent measure of liquidity that excludes inventory from current assets, also demonstrates a decreasing trend over the quarters, from 2.11 in Q1 2022 to 1.50 in Q4 2023. Similar to the current ratio, the quick ratio has remained above 1 in all quarters, signaling the company's ability to meet its short-term obligations without relying on inventory.

The cash ratio, which measures the company's ability to cover its current liabilities with its cash and cash equivalents, has fluctuated over the quarters but has generally shown a downward trend, from 1.45 in Q1 2022 to 1.04 in Q4 2023. This indicates that Oceaneering International, Inc. may have a slightly lower level of readily available cash to cover its short-term obligations compared to the previous year.

Overall, while there has been some decline in Oceaneering International, Inc.'s liquidity ratios over the quarters, the company's current, quick, and cash ratios remain above 1, suggesting that it has a strong liquidity position to meet its short-term financial obligations.

Additional liquidity measure

		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 conversion cycle	days	59.56	72.14	71.76	64.81	59.94	77.21	74.87	71.16	58.48	65.66	72.86	69.01	69.47	71.80	77.37	72.78	80.48	88.60	88.13	88.09

Oceaneering International, Inc.'s cash conversion cycle has exhibited fluctuations over the past eight quarters. The company's cash conversion cycle peaked in Q3 2022 at 77.21 days and reached a low point in Q4 2023 at 59.56 days.

Overall, the trend indicates variability in the efficiency of Oceaneering International, Inc.'s cash management processes. The company has experienced periods of shorter cash conversion cycles, such as in Q4 2022, indicating the company was able to efficiently convert its investments in inventory and receivables into cash. However, longer cash conversion cycles, as seen in Q3 2022 and Q3 2023, suggest delays in converting operational inputs into cash receipts.

The management of Oceaneering International, Inc. may need to focus on streamlining their operational and financial processes to improve the efficiency and effectiveness of their cash conversion cycle. By reducing the time it takes to convert investments into cash, the company can enhance its liquidity position and potentially improve its overall financial performance.