Current Ratio
since 2005
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National Oilwell Varco Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
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Calculation
National Oilwell Varco Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2015 | = | ÷ | |||
| Dec 31, 2014 | = | ÷ | |||
| Dec 31, 2013 | = | ÷ | |||
| Dec 31, 2012 | = | ÷ | |||
| Dec 31, 2011 | = | ÷ | |||
| Dec 31, 2010 | = | ÷ | |||
| Dec 31, 2009 | = | ÷ | |||
| Dec 31, 2008 | = | ÷ | |||
| Dec 31, 2007 | = | ÷ | |||
| Dec 31, 2006 | = | ÷ | |||
| Dec 31, 2005 | = | ÷ |
Based on: 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 analysis of the annual financial data reveals notable trends in the working capital components and liquidity ratios over the observed period.
- Current Assets
- The current assets exhibited a consistent upward trend from 2005 to 2014, increasing from $2,998 million to a peak of $16,423 million in 2013, indicating substantial growth in liquid resources and assets expected to be converted to cash within one year. A slight decline is observed in 2014 and a more pronounced decrease in 2015, where the value fell to $11,801 million, suggesting either asset disposal, reduction in inventory or accounts receivable, or other factors impacting liquid asset accumulation.
- Current Liabilities
- Current liabilities also showed growth over the years, rising from $1,187 million in 2005 to a maximum of $7,374 million in 2014. There is a notable drop in 2015 to $4,249 million, indicating a significant reduction in short-term obligations or payables.
- Current Ratio
- The current ratio fluctuated throughout the period. It started at a relatively strong 2.53 in 2005, decreased to a low around the 2007-2008 period (1.72 in 2008), and then generally recovered, reaching peaks of 2.78 in both 2012 and 2015. This suggests overall maintenance of liquidity above the commonly accepted threshold of 1, indicating an ability to cover short-term liabilities. The ratio's volatility around 2007-2008 may reflect the global financial environment's impact, while the increases in later years suggest improved liquidity management or changes in working capital structure.
In summary, the data portrays a company that increased its current assets and liabilities considerably over the decade, maintaining a generally healthy liquidity position as indicated by the current ratio. The decline in both assets and liabilities in 2015, alongside an improved current ratio, may indicate a strategic repositioning or improved efficiency in managing short-term finances.
Comparison to Competitors
National Oilwell Varco Inc., current ratio, long-term trends, comparison to competitors
| National Oilwell Varco Inc. | Schlumberger Ltd. | |
|---|---|---|
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
Based on: 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)
National Oilwell Varco Inc., current ratio, long-term trends, comparison to industry (energy)
| National Oilwell Varco Inc. | Energy | |
|---|---|---|
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
Based on: 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).