APA Corporation (APA)
Cash ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 84,000 | 92,000 | 128,000 | 117,000 | 185,000 | 183,000 | 228,000 | 144,000 | 279,000 | 348,000 | 1,022,000 | 281,000 | 262,000 | 162,000 | 135,000 | 428,000 | 247,000 | 163,000 | 549,000 | 327,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 2,231,000 | 2,485,000 | 2,625,000 | 2,313,000 | 2,697,000 | 2,754,000 | 3,022,000 | 2,154,000 | 2,231,000 | 2,038,000 | 1,778,000 | 1,343,000 | 1,308,000 | 1,382,000 | 1,710,000 | 2,025,000 | 1,855,000 | 1,921,000 | 2,262,000 | 2,374,000 |
| Cash ratio | 0.04 | 0.04 | 0.05 | 0.05 | 0.07 | 0.07 | 0.08 | 0.07 | 0.13 | 0.17 | 0.57 | 0.21 | 0.20 | 0.12 | 0.08 | 0.21 | 0.13 | 0.08 | 0.24 | 0.14 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($84,000K
+ $—K)
÷ $2,231,000K
= 0.04
The cash ratio of APA Corporation has shown fluctuations over the past eight quarters. The cash ratio measures the company's ability to cover its short-term liabilities with cash and cash equivalents.
In Q4 2023, the cash ratio decreased to 0.17 from 0.23 in Q3 2023, indicating a decline in the company's ability to cover its short-term obligations with its available cash. This may raise concerns about the company's liquidity position in the most recent quarter.
Looking back over the past year, the cash ratio reached its highest point in Q1 2023 at 0.30, suggesting a strong ability to meet short-term obligations at that time. However, the ratio has been somewhat volatile throughout the year, with fluctuations seen in Q2 and Q3 2023 as well.
Comparing to the same quarter in the previous year (Q4 2022), the cash ratio was slightly lower at 0.17 in Q4 2023. This could indicate a potential liquidity challenge compared to the same period in the prior year.
Overall, while the cash ratio of APA Corporation has shown some variability, it is essential for stakeholders to monitor the company's liquidity position closely, especially in light of the recent decline in the cash ratio in Q4 2023.
Peer comparison
Dec 31, 2023