Ovintiv Inc (OVV)
Quick ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 42,000 | 9,000 | 8,000 | 5,000 | 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 |
| Short-term investments | US$ in thousands | — | — | — | — | 59,000 | — | — | — | 70,000 | — | — | — | 67,000 | — | — | — | 38,000 | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 2,681,000 | 2,892,000 | 3,200,000 | 2,783,000 | 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 |
| Quick ratio | 0.02 | 0.00 | 0.00 | 0.00 | 0.02 | 0.00 | 0.02 | 0.01 | 0.03 | 0.01 | 0.00 | 0.07 | 0.10 | 0.00 | 0.04 | 0.00 | 0.02 | 0.02 | 0.02 | 0.04 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($42,000K
+ $—K
+ $—K)
÷ $2,681,000K
= 0.02
The quick ratio of Ovintiv Inc, as per the provided data, has fluctuated over the years. It started at a low of 0.04 on March 31, 2020, dropped further to 0.02 by June 30, 2020, and remained at this level until December 31, 2021.
There was a significant decrease to 0.00 on March 31, 2021, which indicates a potential liquidity issue, as the company may not be able to meet its short-term obligations with its most liquid assets.
The ratio improved to 0.10 by December 31, 2021, suggesting an increase in the company's ability to cover its current liabilities with its quick assets. However, this improvement was not sustained, as the ratio decreased to 0.07 on March 31, 2022, and continued to fluctuate around the 0.00 to 0.04 range up to December 31, 2024.
Overall, the quick ratio of Ovintiv Inc shows a mixed performance in terms of liquidity over the years, with periods of improvement followed by declines. It is important for investors and analysts to closely monitor this ratio to assess the company's ability to meet its short-term financial obligations.
Peer comparison
Dec 31, 2024