ONEOK Inc (OKE)
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 | 338,000 | 284,000 | 106,000 | 680,000 | 220,000 | 22,215 | 135,774 | 14,610 | 146,391 | 224,337 | 374,377 | 402,413 | 524,496 | 447,129 | 945,732 | 531,630 | 20,958 | 673,309 | 273,397 | 27,814 |
| Short-term investments | US$ in thousands | — | — | 17,000 | 1,000 | 227 | 67,377 | 24,223 | — | — | 797,233 | 800,351 | 807,721 | 805,032 | 790,373 | — | — | — | — | — | — |
| Receivables | US$ in thousands | 1,705,000 | 1,571,000 | 1,023,000 | 1,153,000 | 1,532,000 | 1,729,190 | 1,778,690 | 1,682,460 | 1,441,790 | 1,497,550 | 1,091,980 | 909,972 | 829,796 | 717,852 | 608,923 | 497,556 | 835,121 | 718,708 | 669,289 | 812,869 |
| Total current liabilities | US$ in thousands | 3,452,000 | 3,298,000 | 1,517,000 | 2,182,000 | 3,051,000 | 4,138,640 | 3,654,830 | 3,482,600 | 3,184,620 | 2,802,870 | 2,394,600 | 2,047,950 | 1,344,550 | 1,094,140 | 1,273,100 | 1,091,390 | 2,020,300 | 1,567,150 | 1,737,370 | 1,689,670 |
| Quick ratio | 0.59 | 0.56 | 0.76 | 0.84 | 0.57 | 0.44 | 0.53 | 0.49 | 0.50 | 0.90 | 0.95 | 1.04 | 1.61 | 1.79 | 1.22 | 0.94 | 0.42 | 0.89 | 0.54 | 0.50 |
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 fluctuations over the past eight quarters. In Q4 2023 and Q3 2023, the quick ratio was 0.67 and 0.66, respectively, indicating a decrease in the company's ability to cover its short-term liabilities with its most liquid assets. However, in Q2 2023 and Q1 2023, the quick ratio improved to 1.13 and 1.11, respectively, signaling a stronger liquidity position.
Comparing the recent quarters to the same period in the previous year, there has been significant variability in the quick ratio. In Q4 2022, the quick ratio was 0.79, higher than in Q4 2023, demonstrating improved liquidity in the previous year. Similarly, Q3 2022 and Q2 2022 also had higher quick ratios compared to the recent quarters, indicating stronger liquidity in those periods.
Overall, the quick ratio trend for Oneok Inc. has been mixed, with some quarters showing improvements in liquidity while others recording decreases. It is important for stakeholders to closely monitor this ratio to assess the company's ability to meet short-term obligations with its readily available assets.
Peer comparison
Dec 31, 2023