Teekay (Teekay) Cash Ratio : 3.78 (As of Dec. 2023)

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What is Teekay 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. Teekay's Cash Ratio for the quarter that ended in Dec. 2023 was 3.78.

Teekay has a Cash Ratio of 3.78. 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 Teekay's Cash Ratio or its related term are showing as below:

TK' s Cash Ratio Range Over the Past 10 Years
Min: 0.04 Med: 0.49 Max: 3.78
Current: 3.78

During the past 13 years, Teekay's highest Cash Ratio was 3.78. The lowest was 0.04. And the median was 0.49.

TK's Cash Ratio is ranked better than
90.73% of 1025 companies
in the Oil & Gas industry
Industry Median: 0.41 vs TK: 3.78

Teekay Cash Ratio Historical Data

The historical data trend for Teekay'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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Teekay Cash Ratio Chart

Teekay Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cash Ratio

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0.54

0.14

0.04

2.24

3.78

Teekay Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Cash Ratio	Get a 7-Day Free Trial															2.24	2.21	2.48	3.09	3.78

Competitive Comparison of Teekay's Cash Ratio

For the Oil & Gas Midstream subindustry, Teekay'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.

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

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

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

Teekay Cash Ratio Calculation

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

Teekay's Cash Ratio for the fiscal year that ended in Dec. 2023 is calculated as:

Cash Ratio (A: Dec. 2023 )	=	Cash, Cash Equivalents, Marketable Securities	/	Total Current Liabilities
	=	652.684	/	172.821
	=	3.78

Teekay'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
	=	652.684	/	172.821
	=	3.78

Teekay (NYSE:TK) 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.

Teekay Cash Ratio Related Terms

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Teekay (Teekay) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Teekay Corp (NYSE:TK) » Definitions » Cash Ratio

Comparable Companies

NGL TNP PBT EE OSG SMLP NVGS DLNG BROG IMPP TSX:ENB EPD ET WMB OKE MPLX KMI TSX:TRP LNG TRGP

Traded in Other Exchanges

TK:Mexico TCD:Germany TCD:Germany

Address

69 Pitts Bay Road, 4th Floor, Belvedere Building, Hamilton, BMU, HM 08

Website

https://www.teekay.com

Teekay Corp is engaged in providing crude oil and gas marine transportation services. It also offers offshore oil production, storage, and offloading services, primarily under long-term, fixed-rate contracts. The company has three primary lines of business: offshore production (FPSO units), operational and maintenance marine services, and conventional tankers. It manages these businesses for the benefit of all stakeholders. The company serves energy and utility companies, oil traders, large oil and LNG consumers, petroleum product producers, government agencies, and various other entities that depend upon marine transportation.