Ovintiv Inc (OVV)

Cash 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
Cash and cash equivalents US$ in thousands 3,000 3,000 52,000 26,000 5,000 18,000 8,000 271,000 195,000 8,000 122,000 9,000 10,000 32,000 39,000 82,000 190,000
Short-term investments US$ in thousands 70,000 41,000
Total current liabilities US$ in thousands 2,812,000 3,543,000 3,310,000 2,632,000 2,780,000 3,309,000 3,991,000 3,983,000 2,748,000 3,351,000 3,366,000 3,461,000 2,423,000 1,749,000 1,653,000 2,160,000 2,432,000
Cash ratio 0.00 0.00 0.02 0.01 0.03 0.01 0.00 0.07 0.07 0.00 0.04 0.00 0.00 0.02 0.02 0.04 0.09

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($3,000K + $—K) ÷ $2,812,000K
= 0.00

The cash ratio is a liquidity ratio that measures a company's ability to cover its short-term liabilities with its available cash and cash equivalents. A higher cash ratio indicates a stronger ability to meet short-term obligations.

Looking at Ovintiv Inc's cash ratio over the past eight quarters, we can see fluctuations in the ratio. In Q3 2023, the cash ratio was at its lowest at 0.01, indicating a significant decrease in the company's ability to cover its short-term liabilities with cash on hand. However, in Q1 2023, the cash ratio was at its highest at 0.53, suggesting a strong liquidity position during that period.

The variations in the cash ratio over the quarters may be influenced by factors such as changes in cash reserves, operational performance, investments, or debt levels. It is important to consider the trend of the cash ratio over time to assess the company's liquidity position accurately.

Overall, while Ovintiv Inc has shown fluctuations in its cash ratio over the past quarters, further analysis and comparison with industry benchmarks can provide more insights into the company's liquidity position and financial health.


Peer comparison

Dec 31, 2023