Current Ratio
since 2005
Calculation
ONEOK Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 0.83 | = | 2,547,775) | ÷ | 3,051,627) |
| Dec 31, 2021 | 0.75 | = | 2,374,374) | ÷ | 3,184,619) |
| Dec 31, 2020 | 1.39 | = | 1,869,775) | ÷ | 1,344,547) |
| Dec 31, 2019 | 0.73 | = | 1,470,334) | ÷ | 2,020,298) |
| Dec 31, 2018 | 0.66 | = | 1,398,632) | ÷ | 2,108,436) |
| Dec 31, 2017 | 0.66 | = | 1,764,458) | ÷ | 2,667,335) |
| Dec 31, 2016 | 0.50 | = | 1,429,684) | ÷ | 2,836,701) |
| Dec 31, 2015 | 0.60 | = | 975,210) | ÷ | 1,638,266) |
| Dec 31, 2014 | 0.55 | = | 1,307,244) | ÷ | 2,392,345) |
| Dec 31, 2013 | 0.88 | = | 2,370,802) | ÷ | 2,696,407) |
| Dec 31, 2012 | 0.98 | = | 2,764,660) | ÷ | 2,812,994) |
| Dec 31, 2011 | 0.71 | = | 2,318,812) | ÷ | 3,246,175) |
| Dec 31, 2010 | 0.75 | = | 2,379,045) | ÷ | 3,151,112) |
| Dec 31, 2009 | 0.78 | = | 2,588,464) | ÷ | 3,338,912) |
| Dec 31, 2008 | 0.81 | = | 3,377,602) | ÷ | 4,193,764) |
| Dec 31, 2007 | 1.02 | = | 2,951,475) | ÷ | 2,881,667) |
| Dec 31, 2006 | 1.57 | = | 3,238,600) | ÷ | 2,064,177) |
| Dec 31, 2005 | 0.92 | = | 4,405,793) | ÷ | 4,795,341) |
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 thousands
The analysis of liquidity metrics from 2005 to 2022 reveals a recurring pattern where current liabilities frequently exceed current assets, resulting in a current ratio that remains below 1.0 for the majority of the observed period.
- Current Ratio Volatility and Trends
- The current ratio experienced significant fluctuations, peaking at 1.57 in 2006 and reaching a secondary high of 1.39 in 2020. Conversely, a period of diminished liquidity is evident between 2014 and 2018, with the ratio hitting a historical low of 0.50 in 2016. Following this trough, the ratio stabilized in the 0.66 to 0.73 range before another sharp spike in 2020 and a subsequent correction to 0.83 by 2022.
- Asset and Liability Dynamics
- Current assets showed a general decline from a peak of approximately 4.4 billion US dollars in 2005 to a low of approximately 975 million US dollars in 2015, before recovering to 2.5 billion US dollars by 2022. Current liabilities exhibited high volatility, with significant peaks in 2008 and 2021. The inability of current asset growth to keep pace with liability expansions during specific windows explains the systemic compression of the current ratio.
- Liquidity Positioning Insights
- The consistent trend of maintaining a current ratio below 1.0 suggests a structural reliance on short-term financing or a strategic management of working capital typical of capital-intensive industries. The abrupt increase in the ratio during 2020 indicates a temporary surge in liquidity or a rapid reduction in short-term obligations, which was not sustained into 2021 as the ratio returned to its historical baseline of 0.75.
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Comparison to Competitors
ONEOK Inc., current ratio, long-term trends, comparison to competitors
| ONEOK Inc. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | |
|---|---|---|---|---|
| Dec 31, 2022 | 0.83 | 1.47 | 1.46 | 1.41 |
| Dec 31, 2021 | 0.75 | 1.26 | 1.34 | 1.04 |
| Dec 31, 2020 | 1.39 | 1.18 | 2.25 | 0.80 |
| Dec 31, 2019 | 0.73 | 1.07 | 2.40 | 0.78 |
| Dec 31, 2018 | 0.66 | 1.25 | 1.79 | 0.84 |
| Dec 31, 2017 | 0.66 | 1.03 | 1.76 | 0.82 |
| Dec 31, 2016 | 0.50 | 0.93 | 1.25 | 0.87 |
| Dec 31, 2015 | 0.60 | 1.34 | 0.95 | 0.79 |
| Dec 31, 2014 | 0.55 | 1.32 | 1.31 | 0.82 |
| Dec 31, 2013 | 0.88 | 1.52 | 1.26 | 0.83 |
| Dec 31, 2012 | 0.98 | 1.63 | 1.38 | 1.01 |
| Dec 31, 2011 | 0.71 | 1.58 | 1.08 | 0.94 |
| Dec 31, 2010 | 0.75 | 1.68 | 1.26 | 0.94 |
| Dec 31, 2009 | 0.78 | 1.42 | 0.89 | 1.06 |
| Dec 31, 2008 | 0.81 | 1.14 | 0.96 | 1.47 |
| Dec 31, 2007 | 1.02 | 1.17 | 0.92 | 1.47 |
| Dec 31, 2006 | 1.57 | 1.28 | 0.95 | 1.55 |
| Dec 31, 2005 | 0.92 | 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)
ONEOK Inc., current ratio, long-term trends, comparison to sector (oil, gas & consumable fuels)
| ONEOK Inc. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2022 | 0.83 | 1.44 |
| Dec 31, 2021 | 0.75 | 1.14 |
| Dec 31, 2020 | 1.39 | 0.99 |
| Dec 31, 2019 | 0.73 | 0.98 |
| Dec 31, 2018 | 0.66 | 1.04 |
| Dec 31, 2017 | 0.66 | 0.97 |
| Dec 31, 2016 | 0.50 | 0.92 |
| Dec 31, 2015 | 0.60 | 0.97 |
| Dec 31, 2014 | 0.55 | 1.02 |
| Dec 31, 2013 | 0.88 | 1.07 |
| Dec 31, 2012 | 0.98 | 1.25 |
| Dec 31, 2011 | 0.71 | 1.12 |
| Dec 31, 2010 | 0.75 | 1.20 |
| Dec 31, 2009 | 0.78 | 1.11 |
| Dec 31, 2008 | 0.81 | 1.26 |
| Dec 31, 2007 | 1.02 | 1.26 |
| Dec 31, 2006 | 1.57 | 1.32 |
| Dec 31, 2005 | 0.92 | 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)
ONEOK Inc., current ratio, long-term trends, comparison to industry (energy)
| ONEOK Inc. | Energy | |
|---|---|---|
| Dec 31, 2022 | 0.83 | 1.42 |
| Dec 31, 2021 | 0.75 | 1.15 |
| Dec 31, 2020 | 1.39 | 1.02 |
| Dec 31, 2019 | 0.73 | 1.00 |
| Dec 31, 2018 | 0.66 | 1.06 |
| Dec 31, 2017 | 0.66 | 1.00 |
| Dec 31, 2016 | 0.50 | 1.02 |
| Dec 31, 2015 | 0.60 | 1.09 |
| Dec 31, 2014 | 0.55 | 1.10 |
| Dec 31, 2013 | 0.88 | 1.16 |
| Dec 31, 2012 | 0.98 | 1.31 |
| Dec 31, 2011 | 0.71 | 1.18 |
| Dec 31, 2010 | 0.75 | 1.24 |
| Dec 31, 2009 | 0.78 | 1.17 |
| Dec 31, 2008 | 0.81 | 1.28 |
| Dec 31, 2007 | 1.02 | 1.27 |
| Dec 31, 2006 | 1.57 | 1.33 |
| Dec 31, 2005 | 0.92 | 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).