Current Ratio
since 2005
Calculation
Marathon Oil Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 1.11 | = | 1,821) | ÷ | 1,637) |
| Dec 31, 2020 | 1.33 | = | 1,612) | ÷ | 1,213) |
| Dec 31, 2019 | 1.22 | = | 2,135) | ÷ | 1,745) |
| Dec 31, 2018 | 1.59 | = | 2,921) | ÷ | 1,832) |
| Dec 31, 2017 | 1.30 | = | 2,566) | ÷ | 1,968) |
| Dec 31, 2016 | 1.64 | = | 3,665) | ÷ | 2,240) |
| Dec 31, 2015 | 1.50 | = | 2,590) | ÷ | 1,729) |
| Dec 31, 2014 | 1.05 | = | 4,593) | ÷ | 4,379) |
| Dec 31, 2013 | 0.69 | = | 2,975) | ÷ | 4,333) |
| Dec 31, 2012 | 0.74 | = | 3,762) | ÷ | 5,081) |
| Dec 31, 2011 | 0.73 | = | 3,224) | ÷ | 4,394) |
| Dec 31, 2010 | 1.24 | = | 13,829) | ÷ | 11,113) |
| Dec 31, 2009 | 1.17 | = | 10,637) | ÷ | 9,057) |
| Dec 31, 2008 | 1.08 | = | 8,403) | ÷ | 7,753) |
| Dec 31, 2007 | 0.94 | = | 10,587) | ÷ | 11,260) |
| Dec 31, 2006 | 1.25 | = | 10,096) | ÷ | 8,061) |
| Dec 31, 2005 | 1.15 | = | 9,383) | ÷ | 8,154) |
Based on: 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
An analysis of the liquidity position from 2005 to 2021 reveals three distinct phases characterized by initial stability, a period of significant liquidity contraction, and a subsequent recovery and stabilization phase. The overall trend reflects a substantial reduction in the absolute scale of both current assets and current liabilities starting in 2011, alongside fluctuating short-term solvency levels.
- Initial Liquidity Stability (2005–2010)
- During this period, the current ratio remained generally healthy, fluctuating between 0.94 and 1.25. Current assets and liabilities were maintained at a high volume, with assets frequently exceeding 10 billion USD. The company consistently maintained a position where current assets were largely sufficient to cover short-term obligations.
- Liquidity Deterioration (2011–2013)
- A sharp decline in liquidity is observed starting in 2011. The current ratio fell below the 1.0 threshold for three consecutive years, reaching a period low of 0.69 in 2013. This trend indicates a phase where current liabilities exceeded current assets, suggesting increased pressure on short-term financial obligations. This period also coincides with a dramatic decrease in the total volume of current assets, which dropped from 13.8 billion USD in 2010 to under 3 billion USD by 2013.
- Recovery and Stabilization (2014–2021)
- From 2014 onward, a recovery in the current ratio is evident, with values returning to above 1.0. Liquidity peaked in 2016 at 1.64 and remained relatively strong through 2018, reaching 1.59. While the absolute values of current assets and liabilities remained significantly lower than the pre-2011 levels, the ratio stabilized, ending the period at 1.11 in 2021. This indicates a more conservative balance sheet structure with a sustainable margin of short-term solvency.
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Comparison to Competitors
Marathon Oil Corp., current ratio, long-term trends, comparison to competitors
| Marathon Oil Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | |
|---|---|---|---|---|
| Dec 31, 2021 | 1.11 | 1.26 | 1.34 | 1.04 |
| Dec 31, 2020 | 1.33 | 1.18 | 2.25 | 0.80 |
| Dec 31, 2019 | 1.22 | 1.07 | 2.40 | 0.78 |
| Dec 31, 2018 | 1.59 | 1.25 | 1.79 | 0.84 |
| Dec 31, 2017 | 1.30 | 1.03 | 1.76 | 0.82 |
| Dec 31, 2016 | 1.64 | 0.93 | 1.25 | 0.87 |
| Dec 31, 2015 | 1.50 | 1.34 | 0.95 | 0.79 |
| Dec 31, 2014 | 1.05 | 1.32 | 1.31 | 0.82 |
| Dec 31, 2013 | 0.69 | 1.52 | 1.26 | 0.83 |
| Dec 31, 2012 | 0.74 | 1.63 | 1.38 | 1.01 |
| Dec 31, 2011 | 0.73 | 1.58 | 1.08 | 0.94 |
| Dec 31, 2010 | 1.24 | 1.68 | 1.26 | 0.94 |
| Dec 31, 2009 | 1.17 | 1.42 | 0.89 | 1.06 |
| Dec 31, 2008 | 1.08 | 1.14 | 0.96 | 1.47 |
| Dec 31, 2007 | 0.94 | 1.17 | 0.92 | 1.47 |
| Dec 31, 2006 | 1.25 | 1.28 | 0.95 | 1.55 |
| Dec 31, 2005 | 1.15 | 1.37 | 0.92 | 1.58 |
Based on: 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)
Marathon Oil Corp., current ratio, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Marathon Oil Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2021 | 1.11 | 1.14 |
| Dec 31, 2020 | 1.33 | 0.99 |
| Dec 31, 2019 | 1.22 | 0.98 |
| Dec 31, 2018 | 1.59 | 1.04 |
| Dec 31, 2017 | 1.30 | 0.97 |
| Dec 31, 2016 | 1.64 | 0.92 |
| Dec 31, 2015 | 1.50 | 0.97 |
| Dec 31, 2014 | 1.05 | 1.02 |
| Dec 31, 2013 | 0.69 | 1.07 |
| Dec 31, 2012 | 0.74 | 1.25 |
| Dec 31, 2011 | 0.73 | 1.12 |
| Dec 31, 2010 | 1.24 | 1.20 |
| Dec 31, 2009 | 1.17 | 1.11 |
| Dec 31, 2008 | 1.08 | 1.26 |
| Dec 31, 2007 | 0.94 | 1.26 |
| Dec 31, 2006 | 1.25 | 1.32 |
| Dec 31, 2005 | 1.15 | 1.37 |
Based on: 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)
Marathon Oil Corp., current ratio, long-term trends, comparison to industry (energy)
| Marathon Oil Corp. | Energy | |
|---|---|---|
| Dec 31, 2021 | 1.11 | 1.15 |
| Dec 31, 2020 | 1.33 | 1.02 |
| Dec 31, 2019 | 1.22 | 1.00 |
| Dec 31, 2018 | 1.59 | 1.06 |
| Dec 31, 2017 | 1.30 | 1.00 |
| Dec 31, 2016 | 1.64 | 1.02 |
| Dec 31, 2015 | 1.50 | 1.09 |
| Dec 31, 2014 | 1.05 | 1.10 |
| Dec 31, 2013 | 0.69 | 1.16 |
| Dec 31, 2012 | 0.74 | 1.31 |
| Dec 31, 2011 | 0.73 | 1.18 |
| Dec 31, 2010 | 1.24 | 1.24 |
| Dec 31, 2009 | 1.17 | 1.17 |
| Dec 31, 2008 | 1.08 | 1.28 |
| Dec 31, 2007 | 0.94 | 1.27 |
| Dec 31, 2006 | 1.25 | 1.33 |
| Dec 31, 2005 | 1.15 | 1.38 |
Based on: 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).