Horizon Oil (ASX:HZN) Cash Ratio : 2.02 (As of Dec. 2023)

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What is Horizon Oil Cash Ratio?

The Cash Ratio measures a company’s ability to meet its short-term obligations with cash and near-cash resources. It is calculated as a company's Cash, Cash Equivalents, Marketable Securities divides by its Total Current Liabilities. Horizon Oil's Cash Ratio for the quarter that ended in Dec. 2023 was 2.02.

Horizon Oil has a Cash Ratio of 2.02. It generally indicates that the company is able to cover all short-term debt and still have cash remaining.

The historical rank and industry rank for Horizon Oil's Cash Ratio or its related term are showing as below:

ASX:HZN' s Cash Ratio Range Over the Past 10 Years
Min: 0.18 Med: 0.8 Max: 2.02
Current: 2.02

During the past 13 years, Horizon Oil's highest Cash Ratio was 2.02. The lowest was 0.18. And the median was 0.80.

ASX:HZN's Cash Ratio is ranked better than
84.6% of 1026 companies
in the Oil & Gas industry
Industry Median: 0.4 vs ASX:HZN: 2.02

Horizon Oil Cash Ratio Historical Data

The historical data trend for Horizon Oil's Cash Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Horizon Oil Cash Ratio Chart

Horizon Oil Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Cash Ratio

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0.84

1.11

1.53

1.20

1.54

Horizon Oil Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Cash Ratio	Get a 7-Day Free Trial															0.86	1.20	0.69	1.54	2.02

Competitive Comparison of Horizon Oil's Cash Ratio

For the Oil & Gas E&P subindustry, Horizon Oil's Cash Ratio, along with its competitors' market caps and Cash Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Horizon Oil's Cash Ratio Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Horizon Oil's Cash Ratio distribution charts can be found below:

* The bar in red indicates where Horizon Oil's Cash Ratio falls into.

Horizon Oil Cash Ratio Calculation

The Cash Ratio measures a company's ability to meet its short-term obligations with its cash and near-cash resources.

Horizon Oil's Cash Ratio for the fiscal year that ended in Jun. 2023 is calculated as:

Cash Ratio (A: Jun. 2023 )	=	Cash, Cash Equivalents, Marketable Securities	/	Total Current Liabilities
	=	64.951	/	42.279
	=	1.54

Horizon Oil's Cash Ratio for the quarter that ended in Dec. 2023 is calculated as:

Cash Ratio (Q: Dec. 2023 )	=	Cash, Cash Equivalents, Marketable Securities	/	Total Current Liabilities
	=	67.329	/	33.412
	=	2.02

Horizon Oil (ASX:HZN) Cash Ratio Explanation

The cash ratio is more conservative than other liquidity ratios, such as Quick Ratio and Current Ratio, because it only considers a company's most liquid resources. The numerator of cash ratio only considers Cash, Cash Equivalents and marketable securities. Other current assets, such as accounts receivable and inventories, are not included. The rationale is that these assets may require time to be transformed into cash, and the amount of money received is also uncertain.

The cash ratio shows a company’s ability to pay all current liabilities immediately without selling or liquidating other assets. Generally speaking, a higher cash ratio suggests the company has a stronger ability to cover its short-term debt. However, a high cash ratio could also indicate inefficient management: the company is inefficient in making full utilization of cash to invest protential profitable project. It may also suggest that the company is not confident about future profitability.

In general, the higher the cash ratio, the better the company's liquidity position.

Horizon Oil Cash Ratio Related Terms

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Horizon Oil (ASX:HZN) Business Description

Industry

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HZNFF:USA

Address

360 Kent Street, Level 4, Sydney, NSW, AUS, 2000

Website

https://horizonoil.com.au

Horizon Oil Ltd is engaged in petroleum exploration, development, and production. The company's exploration, development, and production activities are focused on Southeast Asia. The operating segments of the group are New Zealand exploration and development, China exploration and development, and All other segments. It generates the prime revenue from New Zealand's exploration and development segment in which the group is involved in the development and production of crude oil and oil field development and in the exploration and evaluation of hydrocarbons. The operations of the organization are carried out in China and New Zealand.