Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
ONEOK Inc., liquidity ratios
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Current ratio | 0.83 | 0.75 | 1.39 | 0.73 | 0.66 | |
| Quick ratio | 0.57 | 0.50 | 1.01 | 0.42 | 0.39 | |
| Cash ratio | 0.07 | 0.05 | 0.39 | 0.01 | 0.01 |
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).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | ONEOK Inc. current ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | ONEOK Inc. quick ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | ONEOK Inc. cash ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022. |
Current Ratio
ONEOK Inc., current ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current assets | 2,547,775) | 2,374,374) | 1,869,775) | 1,470,334) | 1,398,632) | |
| Current liabilities | 3,051,627) | 3,184,619) | 1,344,547) | 2,020,298) | 2,108,436) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 0.83 | 0.75 | 1.39 | 0.73 | 0.66 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| Chevron Corp. | 1.47 | 1.26 | 1.18 | 1.07 | — | |
| ConocoPhillips | 1.46 | 1.34 | 2.25 | 2.40 | — | |
| Exxon Mobil Corp. | 1.41 | 1.04 | 0.80 | 0.78 | — | |
| Marathon Petroleum Corp. | 1.76 | 1.70 | 1.81 | 1.25 | — | |
| Occidental Petroleum Corp. | 1.15 | 1.23 | 1.07 | 1.25 | — | |
| Valero Energy Corp. | 1.38 | 1.26 | 1.71 | 1.44 | — | |
| Current Ratio, Sector | ||||||
| Oil, Gas & Consumable Fuels | 1.46 | 1.23 | 1.16 | 1.08 | — | |
| Current Ratio, Industry | ||||||
| Energy | 1.44 | 1.23 | 1.17 | 1.09 | — | |
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
= 2,547,775 ÷ 3,051,627 = 0.83
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | ONEOK Inc. current ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022. |
Quick Ratio
ONEOK Inc., quick ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 220,227) | 146,391) | 524,496) | 20,958) | 11,975) | |
| Accounts receivable, net | 1,532,292) | 1,441,786) | 829,796) | 835,121) | 818,958) | |
| Total quick assets | 1,752,519) | 1,588,177) | 1,354,292) | 856,079) | 830,933) | |
| Current liabilities | 3,051,627) | 3,184,619) | 1,344,547) | 2,020,298) | 2,108,436) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.57 | 0.50 | 1.01 | 0.42 | 0.39 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| Chevron Corp. | 1.12 | 0.90 | 0.77 | 0.72 | — | |
| ConocoPhillips | 1.27 | 1.10 | 1.98 | 1.93 | — | |
| Exxon Mobil Corp. | 1.03 | 0.69 | 0.44 | 0.47 | — | |
| Marathon Petroleum Corp. | 1.26 | 1.22 | 0.39 | 0.58 | — | |
| Occidental Petroleum Corp. | 0.68 | 0.84 | 0.50 | 0.63 | — | |
| Valero Energy Corp. | 0.96 | 0.86 | 1.01 | 0.88 | — | |
| Quick Ratio, Sector | ||||||
| Oil, Gas & Consumable Fuels | 1.07 | 0.87 | 0.62 | 0.66 | — | |
| Quick Ratio, Industry | ||||||
| Energy | 1.06 | 0.86 | 0.63 | 0.67 | — | |
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
= 1,752,519 ÷ 3,051,627 = 0.57
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | ONEOK Inc. quick ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022. |
Cash Ratio
ONEOK Inc., cash ratio calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 220,227) | 146,391) | 524,496) | 20,958) | 11,975) | |
| Total cash assets | 220,227) | 146,391) | 524,496) | 20,958) | 11,975) | |
| Current liabilities | 3,051,627) | 3,184,619) | 1,344,547) | 2,020,298) | 2,108,436) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.07 | 0.05 | 0.39 | 0.01 | 0.01 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| Chevron Corp. | 0.52 | 0.21 | 0.25 | 0.22 | — | |
| ConocoPhillips | 0.72 | 0.55 | 1.46 | 1.45 | — | |
| Exxon Mobil Corp. | 0.43 | 0.12 | 0.08 | 0.05 | — | |
| Marathon Petroleum Corp. | 0.59 | 0.61 | 0.03 | 0.09 | — | |
| Occidental Petroleum Corp. | 0.13 | 0.33 | 0.24 | 0.20 | — | |
| Valero Energy Corp. | 0.28 | 0.24 | 0.36 | 0.20 | — | |
| Cash Ratio, Sector | ||||||
| Oil, Gas & Consumable Fuels | 0.46 | 0.27 | 0.20 | 0.18 | — | |
| Cash Ratio, Industry | ||||||
| Energy | 0.45 | 0.27 | 0.21 | 0.18 | — | |
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
= 220,227 ÷ 3,051,627 = 0.07
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | ONEOK Inc. cash ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022. |