Oceaneering International Inc (OII)

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	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
Receivables	US$ in thousands	331,326	391,745	369,541	317,866	296,554	384,886	344,533	303,436	262,960	293,126	334,122	284,480	296,214	331,617	353,247	372,966	421,360	376,027	374,173	381,455
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
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

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 shown some fluctuation over the past eight quarters. The ratio has generally stayed above 1, indicating the company's ability to meet its short-term obligations using its most liquid assets.

The highest quick ratio was observed in Q2 2022 at 2.11, suggesting a strong liquidity position at that time. The ratio then slightly decreased in the following quarters but remained above the 1.5 threshold generally considered healthy.

Although the quick ratio has been trending downwards since Q2 2022, it is important to note that the company still maintains a strong ability to cover its short-term liabilities with its quick assets. Overall, the quick ratio figures indicate that Oceaneering International, Inc. has been effectively managing its short-term liquidity position during the period under review.