APA Corporation (APA)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,420,000 | 2,602,000 | 2,395,000 | 1,846,000 | 1,961,000 |
| Total current liabilities | US$ in thousands | 2,231,000 | 2,697,000 | 2,231,000 | 1,308,000 | 1,855,000 |
| Current ratio | 1.08 | 0.96 | 1.07 | 1.41 | 1.06 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,420,000K ÷ $2,231,000K
= 1.08
The current ratio of APA Corporation has fluctuated over the past five years. In 2023, the current ratio stands at 1.02, indicating that the company's current assets are just about sufficient to cover its current liabilities. This represents a slight improvement compared to the previous year when the current ratio was 0.93, suggesting a better ability to meet short-term obligations.
Looking back further, the current ratio was highest in 2020 at 1.41, reflecting a relatively stronger liquidity position, which may have been beneficial for managing short-term financial needs. In contrast, the current ratio was lowest in 2019 at 1.06, indicating a slightly weaker ability to cover current liabilities with current assets.
Overall, while the current ratio has shown variability, it is essential to assess other liquidity metrics and consider industry benchmarks to gain a comprehensive understanding of APA Corporation's liquidity position and its ability to meet short-term obligations effectively.
Peer comparison
Dec 31, 2023