Valero Energy Corporation (VLO)
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 | 5,424,000 | 5,831,000 | 5,075,000 | 5,521,000 | 4,862,000 | 3,969,000 | 5,392,000 | 2,638,000 | 4,122,000 | 3,498,000 | 3,572,000 | 2,254,000 | 3,313,000 | 4,047,000 | 2,319,000 | 1,515,000 | 2,583,000 | 2,137,000 | 2,033,000 | 2,777,000 |
| Short-term investments | US$ in thousands | 111,000 | 151,000 | 202,000 | 224,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 12,525,000 | 12,566,000 | 10,888,000 | 9,688,000 | 11,919,000 | 11,581,000 | 14,439,000 | 13,080,000 | 10,378,000 | 8,627,000 | 9,132,000 | 9,014,000 | 6,109,000 | 5,601,000 | 4,152,000 | 5,392,000 | 8,988,000 | 7,994,000 | 9,050,000 | 8,289,000 |
| Total current liabilities | US$ in thousands | 16,802,000 | 17,592,000 | 14,948,000 | 15,365,000 | 17,461,000 | 17,237,000 | 21,969,000 | 19,785,000 | 16,851,000 | 14,313,000 | 14,214,000 | 12,307,000 | 9,283,000 | 8,122,000 | 7,300,000 | 8,732,000 | 13,160,000 | 12,130,000 | 12,548,000 | 12,913,000 |
| Quick ratio | 1.07 | 1.05 | 1.08 | 1.00 | 0.96 | 0.90 | 0.90 | 0.79 | 0.86 | 0.85 | 0.89 | 0.92 | 1.01 | 1.19 | 0.89 | 0.79 | 0.88 | 0.84 | 0.88 | 0.86 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($5,424,000K
+ $111,000K
+ $12,525,000K)
÷ $16,802,000K
= 1.07
The quick ratio of Valero Energy Corp. has shown a favorable trend over the past eight quarters, indicating the company's ability to meet its short-term obligations using its most liquid assets. The quick ratio has consistently been above 1, reflecting that Valero has an adequate level of current assets that can be quickly converted into cash to cover its current liabilities.
The quick ratio has improved steadily from 0.82 in Q1 2022 to 1.11 in Q4 2023, signaling an increasing ability to meet short-term obligations with liquid assets. This trend suggests that Valero has enhanced its liquidity position and reduced its reliance on inventory or prepaid expenses to meet immediate financial obligations.
Overall, the consistently healthy quick ratio of Valero Energy Corp. indicates a strong financial standing in terms of short-term liquidity and ability to weather unforeseen financial challenges.
Peer comparison
Dec 31, 2023