Current Ratio
since 2005
Calculation
Hess Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 1.64 | = | 3,931) | ÷ | 2,396) |
| Dec 31, 2021 | 1.42 | = | 4,346) | ÷ | 3,064) |
| Dec 31, 2020 | 1.90 | = | 3,081) | ÷ | 1,623) |
| Dec 31, 2019 | 1.26 | = | 3,156) | ÷ | 2,510) |
| Dec 31, 2018 | 2.02 | = | 4,459) | ÷ | 2,203) |
| Dec 31, 2017 | 2.53 | = | 6,157) | ÷ | 2,435) |
| Dec 31, 2016 | 1.90 | = | 4,276) | ÷ | 2,251) |
| Dec 31, 2015 | 1.68 | = | 4,404) | ÷ | 2,628) |
| Dec 31, 2014 | 1.38 | = | 6,687) | ÷ | 4,851) |
| Dec 31, 2013 | 1.31 | = | 8,599) | ÷ | 6,558) |
| Dec 31, 2012 | 1.00 | = | 8,387) | ÷ | 8,382) |
| Dec 31, 2011 | 1.03 | = | 8,339) | ÷ | 8,100) |
| Dec 31, 2010 | 1.15 | = | 8,780) | ÷ | 7,613) |
| Dec 31, 2009 | 1.17 | = | 7,987) | ÷ | 6,850) |
| Dec 31, 2008 | 0.95 | = | 7,332) | ÷ | 7,730) |
| Dec 31, 2007 | 0.86 | = | 6,926) | ÷ | 8,024) |
| Dec 31, 2006 | 0.87 | = | 5,848) | ÷ | 6,739) |
| Dec 31, 2005 | 0.82 | = | 5,290) | ÷ | 6,447) |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The liquidity profile of the company has undergone a significant transformation between 2005 and 2022, evolving from a position of potential short-term vulnerability to a state of substantial liquidity coverage.
- Initial Liquidity Deficit (2005–2008)
- From 2005 to 2008, the current ratio remained consistently below 1.0, ranging from 0.82 to 0.95. During this interval, current liabilities exceeded current assets, indicating that the company did not possess sufficient liquid assets to cover its short-term obligations immediately.
- Liquidity Recovery and Peak (2009–2017)
- A transition to a positive liquidity position occurred in 2009, with the current ratio rising to 1.17. This upward trend accelerated after 2013, leading to a peak ratio of 2.53 in 2017. This period was marked by a substantial divergence in the balance sheet structure; while current assets generally declined after 2010, current liabilities were reduced more aggressively, dropping from 8,382 million USD in 2012 to 2,435 million USD in 2016, which mechanically drove the ratio higher.
- Recent Fluctuations and Current Status (2018–2022)
- The period from 2018 to 2022 was characterized by higher volatility in liquidity metrics. The current ratio declined to 1.26 in 2019 before rebounding to 1.90 in 2020. As of December 31, 2022, the ratio stood at 1.64, reflecting current assets of 3,931 million USD and current liabilities of 2,396 million USD.
- Analysis of Asset and Liability Drivers
- The long-term improvement in the current ratio was not driven by an expansion of the asset base, but rather by a systemic reduction in short-term debt and obligations. Total current assets decreased from a peak of 8,780 million USD in 2010 to 3,931 million USD in 2022. Conversely, current liabilities were reduced from a peak of 8,382 million USD in 2012 to 2,396 million USD in 2022, representing the primary catalyst for the strengthened liquidity position.
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Comparison to Competitors
Hess Corp., current ratio, long-term trends, comparison to competitors
| Hess Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | |
|---|---|---|---|---|
| Dec 31, 2022 | 1.64 | 1.47 | 1.46 | 1.41 |
| Dec 31, 2021 | 1.42 | 1.26 | 1.34 | 1.04 |
| Dec 31, 2020 | 1.90 | 1.18 | 2.25 | 0.80 |
| Dec 31, 2019 | 1.26 | 1.07 | 2.40 | 0.78 |
| Dec 31, 2018 | 2.02 | 1.25 | 1.79 | 0.84 |
| Dec 31, 2017 | 2.53 | 1.03 | 1.76 | 0.82 |
| Dec 31, 2016 | 1.90 | 0.93 | 1.25 | 0.87 |
| Dec 31, 2015 | 1.68 | 1.34 | 0.95 | 0.79 |
| Dec 31, 2014 | 1.38 | 1.32 | 1.31 | 0.82 |
| Dec 31, 2013 | 1.31 | 1.52 | 1.26 | 0.83 |
| Dec 31, 2012 | 1.00 | 1.63 | 1.38 | 1.01 |
| Dec 31, 2011 | 1.03 | 1.58 | 1.08 | 0.94 |
| Dec 31, 2010 | 1.15 | 1.68 | 1.26 | 0.94 |
| Dec 31, 2009 | 1.17 | 1.42 | 0.89 | 1.06 |
| Dec 31, 2008 | 0.95 | 1.14 | 0.96 | 1.47 |
| Dec 31, 2007 | 0.86 | 1.17 | 0.92 | 1.47 |
| Dec 31, 2006 | 0.87 | 1.28 | 0.95 | 1.55 |
| Dec 31, 2005 | 0.82 | 1.37 | 0.92 | 1.58 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Hess Corp., current ratio, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Hess Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2022 | 1.64 | 1.44 |
| Dec 31, 2021 | 1.42 | 1.14 |
| Dec 31, 2020 | 1.90 | 0.99 |
| Dec 31, 2019 | 1.26 | 0.98 |
| Dec 31, 2018 | 2.02 | 1.04 |
| Dec 31, 2017 | 2.53 | 0.97 |
| Dec 31, 2016 | 1.90 | 0.92 |
| Dec 31, 2015 | 1.68 | 0.97 |
| Dec 31, 2014 | 1.38 | 1.02 |
| Dec 31, 2013 | 1.31 | 1.07 |
| Dec 31, 2012 | 1.00 | 1.25 |
| Dec 31, 2011 | 1.03 | 1.12 |
| Dec 31, 2010 | 1.15 | 1.20 |
| Dec 31, 2009 | 1.17 | 1.11 |
| Dec 31, 2008 | 0.95 | 1.26 |
| Dec 31, 2007 | 0.86 | 1.26 |
| Dec 31, 2006 | 0.87 | 1.32 |
| Dec 31, 2005 | 0.82 | 1.37 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
Hess Corp., current ratio, long-term trends, comparison to industry (energy)
| Hess Corp. | Energy | |
|---|---|---|
| Dec 31, 2022 | 1.64 | 1.42 |
| Dec 31, 2021 | 1.42 | 1.15 |
| Dec 31, 2020 | 1.90 | 1.02 |
| Dec 31, 2019 | 1.26 | 1.00 |
| Dec 31, 2018 | 2.02 | 1.06 |
| Dec 31, 2017 | 2.53 | 1.00 |
| Dec 31, 2016 | 1.90 | 1.02 |
| Dec 31, 2015 | 1.68 | 1.09 |
| Dec 31, 2014 | 1.38 | 1.10 |
| Dec 31, 2013 | 1.31 | 1.16 |
| Dec 31, 2012 | 1.00 | 1.31 |
| Dec 31, 2011 | 1.03 | 1.18 |
| Dec 31, 2010 | 1.15 | 1.24 |
| Dec 31, 2009 | 1.17 | 1.17 |
| Dec 31, 2008 | 0.95 | 1.28 |
| Dec 31, 2007 | 0.86 | 1.27 |
| Dec 31, 2006 | 0.87 | 1.33 |
| Dec 31, 2005 | 0.82 | 1.38 |
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), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).