APA Corporation (APA)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 84,000 | 185,000 | 279,000 | 262,000 | 247,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | -114,000 | 1,424,000 | 1,467,000 | 908,000 | 1,062,000 |
| Total current liabilities | US$ in thousands | 2,231,000 | 2,697,000 | 2,231,000 | 1,308,000 | 1,855,000 |
| Quick ratio | -0.01 | 0.60 | 0.78 | 0.89 | 0.71 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($84,000K
+ $—K
+ $-114,000K)
÷ $2,231,000K
= -0.01
The quick ratio of APA Corporation has fluctuated over the past five years, ranging from 0.78 to 1.04. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term liabilities with its current liquid assets alone.
In 2023, the quick ratio stands at 0.84, which suggests that APA Corporation may face some challenges in meeting its short-term obligations with its current liquid assets. However, it is important to consider the industry benchmarks and trends over time to better assess the company's liquidity position. Further analysis of APA Corporation's current assets, current liabilities, and the composition of its liquid assets would provide more insights into its liquidity management.
Peer comparison
Dec 31, 2023