ONEOK Inc (OKE)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 338,000 | 220,000 | 146,391 | 524,496 | 20,958 |
| Short-term investments | US$ in thousands | — | 227 | — | 805,032 | — |
| Receivables | US$ in thousands | 1,705,000 | 1,532,000 | 1,441,790 | 829,796 | 835,121 |
| Total current liabilities | US$ in thousands | 3,452,000 | 3,051,000 | 3,184,620 | 1,344,550 | 2,020,300 |
| Quick ratio | 0.59 | 0.57 | 0.50 | 1.61 | 0.42 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($338,000K
+ $—K
+ $1,705,000K)
÷ $3,452,000K
= 0.59
The quick ratio of Oneok Inc. has shown some fluctuation over the past five years. The ratio was 0.67 as of December 31, 2023, reflecting a decline from the previous year. This suggests that the company may have a lower ability to cover its short-term obligations with its most liquid assets.
Looking back, the quick ratio was 0.79 in 2022, down from 0.70 in 2021. The drop in the quick ratio from 2021 to 2022 indicates a potentially decreased ability to meet short-term liabilities without relying on inventory.
In contrast, the quick ratio was notably higher in 2020, standing at 1.11. This suggests that Oneok Inc. had a stronger short-term liquidity position in that year, possibly due to higher cash reserves or lower current liabilities.
The quick ratio was significantly lower in 2019 at 0.48, indicating a weaker ability to meet short-term obligations with quick assets alone. This could imply potential liquidity challenges or a high level of short-term liabilities relative to liquid assets.
Overall, the fluctuation in Oneok Inc.'s quick ratio over the years signals varying levels of short-term liquidity and the company's ability to promptly meet its financial commitments using its readily available assets. Further analysis of the company's balance sheet and financial performance would provide additional insights into its overall financial health and liquidity management.
Peer comparison
Dec 31, 2023