The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. It is calculated as a company's Total Current Assets excludes Total Inventories divides by its Total Current Liabilities. Diamond Offshore Drilling's quick ratio for the quarter that ended in Mar. 2022 was 1.09.
Diamond Offshore Drilling has a quick ratio of 1.09. It generally indicates good short-term financial strength.
The historical rank and industry rank for Diamond Offshore Drilling's Quick Ratio or its related term are showing as below:
DO'
s Quick Ratio Range Over the Past 10 Years
Min: 1.09 Med: 1.09 Max: 1.09
Current: 1.09
During the past 0 years, Diamond Offshore Drilling's highest Quick Ratio was 1.09. The lowest was 1.09. And the median was 1.09.
DO's Quick Ratio is ranked worse than 52.13% of 1105
companies
in the Oil & Gas industry
Industry Median: 1.13
vs DO: 1.09
Diamond Offshore Drilling Quick Ratio Historical Data
The historical data trend for Diamond Offshore Drilling's Quick 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.
* Premium members only.
Diamond Offshore Drilling Annual Data
Trend
Quick Ratio
Diamond Offshore Drilling Semi-Annual Data
Mar21
Mar22
Quick Ratio
-
1.09
Competitive Comparison
For the Oil & Gas Drilling subindustry, Diamond Offshore Drilling's Quick Ratio, along with its competitors' market caps and Quick 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.
Diamond Offshore Drilling Quick Ratio Distribution
For the Oil & Gas industry and Energy sector, Diamond Offshore Drilling's Quick Ratio distribution charts can be found below:
* The bar in red indicates where Diamond Offshore Drilling's Quick Ratio falls into.
Diamond Offshore Drilling Quick Ratio Calculation
The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. For this reason, the ratio excludes inventories from current assets.
Diamond Offshore Drilling's Quick Ratio for the fiscal year that ended in . 20 is calculated as
* 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.
Diamond Offshore Drilling (NYSE:DO) Quick Ratio Explanation
The quick ratio is more conservative than the Current Ratio because it excludes inventories from current assets. The ratio derives its name presumably from the fact that assets such as cash and marketable securities are quick sources of cash. Inventories generally take time to be converted into cash, and if they have to be sold quickly, the company may have to accept a lower price than book value of these inventories. As a result, they are justifiably excluded from assets that are ready sources of immediate cash.
In general, low or decreasing quick ratios generally suggest that a company is over-leveraged, struggling to maintain or grow sales, paying bills too quickly or collecting receivables too slowly. On the other hand, a high or increasing quick ratio generally indicates that a company is experiencing solid top-line growth, quickly converting receivables into cash, and easily able to cover its financial obligations. Such companies often have faster inventory turnover and cash conversion cycles.
The higher the quick ratio, the better the company's liquidity position.
Diamond Offshore Drilling Quick Ratio Related Terms
Thank you for viewing the detailed overview of Diamond Offshore Drilling's Quick Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.
Diamond Offshore Drilling Inc is a leader in offshore drilling, providing contract drilling services to the energy industry around the globe with a total fleet of 12 offshore drilling rigs, consisting of eight semisubmersibles and four dynamically positioned drillships.
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