ONEOK Inc (OKE)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 3,108,000 | 2,548,000 | 2,374,370 | 1,869,780 | 1,470,330 |
| Total current liabilities | US$ in thousands | 3,452,000 | 3,051,000 | 3,184,620 | 1,344,550 | 2,020,300 |
| Current ratio | 0.90 | 0.84 | 0.75 | 1.39 | 0.73 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $3,108,000K ÷ $3,452,000K
= 0.90
The current ratio of Oneok Inc. has shown fluctuations over the past five years. As of December 31, 2023, the current ratio stands at 0.90, indicating that the company may have difficulty meeting its short-term obligations with its current assets. This represents an improvement compared to the previous year, where the current ratio was 0.83.
In 2021, the current ratio was 0.75, signaling a potential liquidity challenge for the company, as its current liabilities outweighed its current assets. The significant increase in the current ratio in 2020 to 1.39 suggests that the company had a stronger ability to cover its short-term obligations with its current assets.
However, a notable decline was observed in 2019, where the current ratio dropped to 0.73, raising concerns about the company's short-term solvency.
Overall, the fluctuation in Oneok Inc.'s current ratio over the years indicates varying levels of liquidity and ability to meet short-term financial obligations. It would be important to closely monitor this ratio to assess the company's financial health and liquidity position.
Peer comparison
Dec 31, 2023