APA Corporation (APA)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | -114,000 | -103,000 | 1,331,000 | 1,483,000 | 1,424,000 | 2,249,000 | 1,963,000 | 1,721,000 | 1,467,000 | 1,222,000 | 1,065,000 | 1,057,000 | 908,000 | 899,000 | 871,000 | 838,000 | 1,062,000 | 1,070,000 | 1,098,000 | 1,185,000 |
| 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 |
| Quick ratio | -0.01 | -0.00 | 0.56 | 0.69 | 0.60 | 0.88 | 0.73 | 0.87 | 0.78 | 0.77 | 1.17 | 1.00 | 0.89 | 0.77 | 0.59 | 0.63 | 0.71 | 0.64 | 0.73 | 0.64 |
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 shown some fluctuation over the past eight quarters, ranging from a low of 0.78 to a high of 0.98. 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 current liabilities with its readily available assets.
The trend in APA Corporation's quick ratio indicates some variability in its liquidity position over the quarters analyzed. The ratio decreased from Q1 2022 to Q4 2022, showing a potential weakening liquidity position during that period. However, there was an increase in the quick ratio in Q1 2023, which could suggest an improvement in the company's ability to cover its current liabilities with its quick assets.
Overall, the quick ratio of APA Corporation is below 1 for most of the quarters, indicating a potential weakness in its short-term liquidity management. It is important for the company to closely monitor and manage its liquidity position to ensure it can meet its financial obligations in a timely manner.
Peer comparison
Dec 31, 2023