Chord Energy Corp (CHRD)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 317,998 | 593,151 | 172,114 | 20,019 | 22,190 |
| Short-term investments | US$ in thousands | — | — | — | — | — |
| Receivables | US$ in thousands | 943,114 | 781,738 | 377,202 | 371,181 | 387,602 |
| Total current liabilities | US$ in thousands | 1,165,460 | 1,361,330 | 1,225,200 | 602,883 | 611,776 |
| Quick ratio | 1.08 | 1.01 | 0.45 | 0.65 | 0.67 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($317,998K
+ $—K
+ $943,114K)
÷ $1,165,460K
= 1.08
The quick ratio of Chord Energy Corp has shown improvement over the past three years. In 2021, the quick ratio was relatively low at 0.45, indicating a potential liquidity concern as the company may have had difficulties meeting its short-term obligations with its most liquid assets. However, by the end of 2022, the quick ratio increased to 1.05, reflecting an enhancement in the company's ability to cover its short-term liabilities with its quick assets.
The most recent data as of December 31, 2023, reveals a further improvement in the quick ratio to 1.16. This suggests that Chord Energy Corp is in a stronger liquidity position compared to the previous year, with sufficient liquid assets to meet its short-term financial obligations. A quick ratio above 1.0 indicates that the company can cover its current liabilities with its quick assets.
Overall, the increasing trend in the quick ratio of Chord Energy Corp from 2021 to 2023 indicates a positive liquidity position and enhanced ability to meet short-term obligations, which could be attributed to better management of current assets and liabilities.
Peer comparison
Dec 31, 2023