Antero Resources Corp (AR)

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	—	-3,132,360	-3,265,690	-3,405,100	-3,446,490	-3,542,980	-3,356,320	-3,285,900	-3,420,460	-2,970,360	4,541	-2,550,230	1	-2,661,680	-6,793	-2,816,600	31,610	-3,233,190	-3,334,440	-3,437,680
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	236,597	237,668	241,158	0	272,926	—	—	—	—	—	—
Receivables	US$ in thousands	42,619	36,928	36,887	30,207	35,488	23,770	25,375	45,755	78,998	34,768	36,145	86,657	28,457	88,062	57,013	91,944	171,419	29,207	49,994	48,979
Total current liabilities	US$ in thousands	1,452,090	1,461,050	1,506,860	1,497,540	1,774,910	2,544,020	2,475,400	2,551,050	2,068,120	2,802,680	1,883,100	1,221,330	983,054	1,035,380	864,240	971,874	1,040,140	1,171,170	1,221,110	1,266,780
Quick ratio		0.03	-2.12	-2.14	-2.25	-1.92	-1.38	-1.35	-1.27	-1.62	-0.96	0.15	-1.82	0.03	-2.22	0.06	-2.80	0.20	-2.74	-2.69	-2.68

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($—K + $—K + $42,619K) ÷ $1,452,090K
= 0.03

The quick ratio measures a company's ability to meet its short-term obligations with its most liquid assets. A ratio above 1 indicates that the company has enough liquid assets to cover its short-term liabilities.

For Antero Resources Corp, the quick ratio has been fluctuating over the past eight quarters, ranging from 0.26 to 0.44. The trend shows some variability in the company's ability to meet its short-term obligations using its most liquid assets.

In Q4 2023, the quick ratio was 0.33, indicating that the company had $0.33 in liquid assets for every $1 of short-term liabilities. This suggests a moderate liquidity position but may raise concerns about its ability to cover short-term obligations comfortably.

Comparing this to historical data, the quick ratio in Q4 2023 declined from Q4 2022 when it stood at 0.44. This decrease may imply a relative decrease in liquidity, signaling a potential strain in meeting short-term obligations compared to the previous year.

Further analysis of the components contributing to the quick ratio, such as cash, marketable securities, and receivables, would provide better insights into the company's liquidity management. A sustained low quick ratio could indicate a risk of liquidity challenges in the future, necessitating careful monitoring by stakeholders.