Liquidity ratios measure the company ability to meet its short-term obligations.
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- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Liquidity Ratios (Summary)
Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
---|---|---|---|---|---|---|
Current ratio | ||||||
Quick ratio | ||||||
Cash ratio |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
- Current Ratio
- The current ratio exhibited an overall decreasing trend from 1.99 in 2018 to 1.25 in 2022. A peak occurred in 2020 at 2.26, indicating relatively stronger short-term liquidity that year. However, the ratio declined significantly in the subsequent years, reaching its lowest point in 2022, suggesting a gradual weakening in the company's ability to cover current liabilities with current assets.
- Quick Ratio
- The quick ratio followed a similar pattern to the current ratio. Beginning at 1.48 in 2018, it decreased slightly in 2019 to 1.39 before rising markedly to 1.97 in 2020, which implies an increase in liquid assets excluding inventories. After 2020, the ratio declined steadily to 1.04 by the end of 2022, indicating reduced liquidity excluding inventory and potentially tighter short-term financial conditions.
- Cash Ratio
- The cash ratio showed a notable decline over the period. Starting at a relatively strong level of 1.08 in 2018, it decreased to 0.96 in 2019 and then increased to 1.55 in 2020, reaching its highest point during the period. Subsequently, it dropped sharply to 0.74 in 2021 and further to 0.47 in 2022. This trend suggests a reduction in the most liquid assets available to meet current obligations in the latter years, which could indicate increased reliance on receivables or inventory to cover short-term liabilities.
Current Ratio
Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Current assets | ||||||
Current liabilities | ||||||
Liquidity Ratio | ||||||
Current ratio1 | ||||||
Benchmarks | ||||||
Current Ratio, Competitors2 | ||||||
Chevron Corp. | ||||||
ConocoPhillips | ||||||
Exxon Mobil Corp. | ||||||
Occidental Petroleum Corp. | ||||||
Current Ratio, Sector | ||||||
Oil, Gas & Consumable Fuels | ||||||
Current Ratio, Industry | ||||||
Energy |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Current assets
- Current assets exhibited a general downward trend between 2018 and 2020, decreasing from 4,437 million US dollars to 3,260 million US dollars. In 2021, there was a notable recovery to 4,249 million US dollars, followed by a slight decrease to 3,891 million US dollars in 2022.
- Current liabilities
- Current liabilities declined steadily from 2,226 million US dollars in 2018 to 1,440 million US dollars in 2020. However, there was a sharp increase in current liabilities in the following years, reaching 3,087 million US dollars in 2021 and slightly rising again to 3,105 million US dollars in 2022.
- Current ratio
- The current ratio improved from 1.99 in 2018 to a peak of 2.26 in 2020, indicating enhanced short-term liquidity during this period. Nonetheless, the ratio declined significantly in 2021 and 2022, down to 1.38 and then 1.25 respectively, reflecting a weakening liquidity position relative to the company's obligations.
Quick Ratio
Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Cash, cash equivalents and restricted cash | ||||||
Accounts receivable | ||||||
Total quick assets | ||||||
Current liabilities | ||||||
Liquidity Ratio | ||||||
Quick ratio1 | ||||||
Benchmarks | ||||||
Quick Ratio, Competitors2 | ||||||
Chevron Corp. | ||||||
ConocoPhillips | ||||||
Exxon Mobil Corp. | ||||||
Occidental Petroleum Corp. | ||||||
Quick Ratio, Sector | ||||||
Oil, Gas & Consumable Fuels | ||||||
Quick Ratio, Industry | ||||||
Energy |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total quick assets
- The total quick assets exhibited moderate fluctuations over the five-year period. Initially, there was a decline from 3,299 million US dollars in 2018 to 2,676 million in 2019, followed by a slight recovery to 2,838 million in 2020. A significant increase to 3,814 million occurred in 2021, before dropping again to 3,221 million in 2022.
- Current liabilities
- Current liabilities showed a general downward trend from 2,226 million US dollars in 2018 to 1,440 million in 2020, indicating a potential reduction in short-term obligations during this period. However, a sharp rise occurred in 2021 and 2022, with liabilities increasing to 3,087 million and 3,105 million, respectively, surpassing the 2018 level.
- Quick ratio
- The quick ratio demonstrated notable variability. Starting at 1.48 in 2018, it declined slightly to 1.39 in 2019 but increased substantially to 1.97 in 2020, reflecting improved liquidity. Subsequently, the ratio decreased to 1.24 in 2021 and further to 1.04 in 2022, indicating a diminishing ability to cover current liabilities with quick assets, approaching the threshold of 1.00 which typically signifies balanced short-term liquidity.
Cash Ratio
Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Cash, cash equivalents and restricted cash | ||||||
Total cash assets | ||||||
Current liabilities | ||||||
Liquidity Ratio | ||||||
Cash ratio1 | ||||||
Benchmarks | ||||||
Cash Ratio, Competitors2 | ||||||
Chevron Corp. | ||||||
ConocoPhillips | ||||||
Exxon Mobil Corp. | ||||||
Occidental Petroleum Corp. | ||||||
Cash Ratio, Sector | ||||||
Oil, Gas & Consumable Fuels | ||||||
Cash Ratio, Industry | ||||||
Energy |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total Cash Assets
- The total cash assets exhibited variability over the five-year period. Initially, there was a decrease from 2,414 million USD at the end of 2018 to 1,844 million USD at the end of 2019. This was followed by an increase to 2,237 million USD in 2020 and a slight rise to 2,271 million USD in 2021. However, in 2022, the cash assets declined significantly to 1,454 million USD, marking the lowest point in the analyzed timeframe.
- Current Liabilities
- Current liabilities showed a general upward trend with some fluctuations. They decreased from 2,226 million USD in 2018 to 1,927 million USD in 2019, and further to 1,440 million USD in 2020. Afterward, there was a sharp increase to 3,087 million USD in 2021, which slightly rose again in 2022 to 3,105 million USD, reaching the highest values during the period under consideration.
- Cash Ratio
- The cash ratio followed a downward trajectory overall. Starting at 1.08 in 2018, it dropped slightly to 0.96 in 2019, then rose notably to 1.55 in 2020, indicating a stronger liquidity position that year. Nevertheless, the ratio declined sharply in subsequent years, falling to 0.74 in 2021 and further decreasing to 0.47 in 2022, suggesting a weakening ability to cover current liabilities with available cash.