Oceaneering International Inc (OII)
Quick ratio
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Cash | US$ in thousands | 461,566 | 568,745 | 538,114 | 452,016 | 373,655 |
Short-term investments | US$ in thousands | 0 | 6,369 | 6,416 | 10,179 | 10,179 |
Receivables | US$ in thousands | 331,326 | 296,554 | 262,960 | 296,214 | 421,360 |
Total current liabilities | US$ in thousands | 732,476 | 568,414 | 501,161 | 437,116 | 600,956 |
Quick ratio | 1.08 | 1.53 | 1.61 | 1.74 | 1.34 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($461,566K
+ $0K
+ $331,326K)
÷ $732,476K
= 1.08
The quick ratio of Oceaneering International, Inc. has exhibited fluctuations over the past five years. The company's quick ratio stood at 1.50 as of December 31, 2023, reflecting a decline from the previous year. This ratio indicates that the company may have slightly fewer liquid assets readily available to cover its current liabilities in the short term.
Compared to the quick ratios of 1.96 in 2022 and 2.06 in 2021, the current ratio has experienced a downward trend. However, it is noteworthy that Oceaneering International, Inc. maintained a quick ratio above 1.0 in all the years, implying that the company has generally been able to meet its short-term obligations using its most liquid assets.
The highest quick ratio recorded was 2.35 in 2020, indicating a stronger liquidity position that year. In contrast, the quick ratio was lower at 1.78 in 2019, suggesting a comparatively weaker liquidity position.
Overall, while the recent decrease in the quick ratio may raise some concerns about the company's short-term liquidity position, it is important to consider the historical trend and the benchmark of 1.0 to assess Oceaneering International, Inc.'s ability to meet its current obligations.
Peer comparison
Dec 31, 2023