APA Corporation (APA)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,420,000 | 2,718,000 | 2,620,000 | 2,690,000 | 2,602,000 | 3,357,000 | 3,062,000 | 2,560,000 | 2,395,000 | 2,169,000 | 2,686,000 | 2,047,000 | 1,846,000 | 1,719,000 | 1,658,000 | 1,908,000 | 1,961,000 | 1,971,000 | 2,791,000 | 2,504,000 |
| 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 |
| Current ratio | 1.08 | 1.09 | 1.00 | 1.16 | 0.96 | 1.22 | 1.01 | 1.19 | 1.07 | 1.06 | 1.51 | 1.52 | 1.41 | 1.24 | 0.97 | 0.94 | 1.06 | 1.03 | 1.23 | 1.05 |
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 shown some fluctuations over the past eight quarters. In Q4 2023, the current ratio was 1.02, indicating that the company had just enough current assets to cover its current liabilities. This was a slight decrease from the previous quarter's ratio of 1.06.
Looking further back, in Q1 2023, the current ratio was relatively healthy at 1.11, suggesting the company had a comfortable cushion of current assets compared to its current liabilities. However, there was a dip in Q2 2023 where the current ratio dropped to 0.99, indicating a potential strain on the company's liquidity position.
Comparing the current ratio to the same quarter in the previous year, there has been some improvement as Q4 2022 had a current ratio of 0.93. Q1 2022 had the highest current ratio of the past eight quarters at 1.23, indicating a strong liquidity position at that time.
Overall, the current ratio trend of APA Corporation shows some variability, with fluctuations indicating changes in the company's ability to meet short-term obligations using its current assets. Monitoring this ratio closely can provide insights into the company's liquidity and short-term financial health.
Peer comparison
Dec 31, 2023