Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
ConocoPhillips, liquidity ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Current ratio | 1.43 | 1.46 | 1.34 | 2.25 | 2.40 | |
| Quick ratio | 1.21 | 1.27 | 1.10 | 1.98 | 1.93 | |
| Cash ratio | 0.66 | 0.72 | 0.55 | 1.46 | 1.45 |
Based on: 10-K (reporting date: 2023-12-31), 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).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | ConocoPhillips current ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | ConocoPhillips quick ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | ConocoPhillips cash ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Current Ratio
ConocoPhillips, current ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 14,330) | 18,749) | 16,050) | 12,066) | 16,913) | |
| Current liabilities | 10,005) | 12,847) | 12,021) | 5,366) | 7,043) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 1.43 | 1.46 | 1.34 | 2.25 | 2.40 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| Chevron Corp. | 1.27 | 1.47 | 1.26 | 1.18 | 1.07 | |
| Exxon Mobil Corp. | 1.48 | 1.41 | 1.04 | 0.80 | 0.78 | |
| Marathon Petroleum Corp. | 1.59 | 1.76 | 1.70 | 1.81 | 1.25 | |
| Occidental Petroleum Corp. | 0.92 | 1.15 | 1.23 | 1.07 | 1.25 | |
| Valero Energy Corp. | 1.56 | 1.38 | 1.26 | 1.71 | 1.44 | |
| Current Ratio, Sector | ||||||
| Oil, Gas & Consumable Fuels | 1.42 | 1.46 | 1.23 | 1.16 | 1.08 | |
| Current Ratio, Industry | ||||||
| Energy | 1.42 | 1.44 | 1.23 | 1.17 | 1.09 | |
Based on: 10-K (reporting date: 2023-12-31), 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).
1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 14,330 ÷ 10,005 = 1.43
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. | ConocoPhillips current ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Quick Ratio
ConocoPhillips, quick ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 5,635) | 6,458) | 5,028) | 2,991) | 5,088) | |
| Short-term investments | 971) | 2,785) | 446) | 3,609) | 3,028) | |
| Accounts and notes receivable, net of allowance | 5,461) | 7,075) | 6,543) | 2,634) | 3,267) | |
| Accounts and notes receivable, related parties | 13) | 13) | 127) | 120) | 134) | |
| Investment in Cenovus Energy | —) | —) | 1,117) | 1,256) | 2,111) | |
| Total quick assets | 12,080) | 16,331) | 13,261) | 10,610) | 13,628) | |
| Current liabilities | 10,005) | 12,847) | 12,021) | 5,366) | 7,043) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 1.21 | 1.27 | 1.10 | 1.98 | 1.93 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| Chevron Corp. | 0.87 | 1.12 | 0.90 | 0.77 | 0.72 | |
| Exxon Mobil Corp. | 1.06 | 1.03 | 0.69 | 0.44 | 0.47 | |
| Marathon Petroleum Corp. | 1.08 | 1.26 | 1.22 | 0.39 | 0.58 | |
| Occidental Petroleum Corp. | 0.51 | 0.68 | 0.84 | 0.50 | 0.63 | |
| Valero Energy Corp. | 1.07 | 0.96 | 0.86 | 1.01 | 0.88 | |
| Quick Ratio, Sector | ||||||
| Oil, Gas & Consumable Fuels | 1.00 | 1.07 | 0.87 | 0.62 | 0.66 | |
| Quick Ratio, Industry | ||||||
| Energy | 0.99 | 1.06 | 0.86 | 0.63 | 0.67 | |
Based on: 10-K (reporting date: 2023-12-31), 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).
1 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 12,080 ÷ 10,005 = 1.21
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. | ConocoPhillips quick ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Cash Ratio
ConocoPhillips, cash ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cash and cash equivalents | 5,635) | 6,458) | 5,028) | 2,991) | 5,088) | |
| Short-term investments | 971) | 2,785) | 446) | 3,609) | 3,028) | |
| Investment in Cenovus Energy | —) | —) | 1,117) | 1,256) | 2,111) | |
| Total cash assets | 6,606) | 9,243) | 6,591) | 7,856) | 10,227) | |
| Current liabilities | 10,005) | 12,847) | 12,021) | 5,366) | 7,043) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.66 | 0.72 | 0.55 | 1.46 | 1.45 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| Chevron Corp. | 0.25 | 0.52 | 0.21 | 0.25 | 0.22 | |
| Exxon Mobil Corp. | 0.48 | 0.43 | 0.12 | 0.08 | 0.05 | |
| Marathon Petroleum Corp. | 0.51 | 0.59 | 0.61 | 0.03 | 0.09 | |
| Occidental Petroleum Corp. | 0.16 | 0.13 | 0.33 | 0.24 | 0.20 | |
| Valero Energy Corp. | 0.32 | 0.28 | 0.24 | 0.36 | 0.20 | |
| Cash Ratio, Sector | ||||||
| Oil, Gas & Consumable Fuels | 0.41 | 0.46 | 0.27 | 0.20 | 0.18 | |
| Cash Ratio, Industry | ||||||
| Energy | 0.40 | 0.45 | 0.27 | 0.21 | 0.18 | |
Based on: 10-K (reporting date: 2023-12-31), 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).
1 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 6,606 ÷ 10,005 = 0.66
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. | ConocoPhillips cash ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |