Ovintiv Inc (OVV)
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | 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 |
| Short-term investments | US$ in thousands | — | — | — | — | 70,000 | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 2,420,000 | 1,147,000 | 850,000 | 918,000 | 2,790,000 | 1,401,000 | 1,738,000 | 1,603,000 | 2,371,000 | 1,208,000 | 1,201,000 | 1,127,000 | 1,957,000 | 879,000 |
| 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 |
| Quick ratio | 0.86 | 0.32 | 0.27 | 0.36 | 1.03 | 0.43 | 0.44 | 0.47 | 0.93 | 0.36 | 0.39 | 0.33 | 0.81 | 0.52 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($3,000K
+ $—K
+ $2,420,000K)
÷ $2,812,000K
= 0.86
The quick ratio for Ovintiv Inc fluctuated over the past eight quarters, ranging from 0.45 to 0.61. In Q4 2023, the quick ratio stood at 0.60, reflecting an improvement compared to the previous quarter. However, the company's quick ratio remains below 1, indicating that Ovintiv may have difficulty meeting its short-term obligations with its most liquid assets. The trend of the quick ratio over the last two years shows some volatility but generally staying within a relatively narrow range. It is essential for Ovintiv to monitor and manage its liquidity closely to ensure it can cover its current liabilities effectively.
Peer comparison
Dec 31, 2023