ChampionX Corporation (CHX)
Cash 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 and cash equivalents | US$ in thousands | 288,557 | 285,006 | 263,088 | 247,996 | 250,187 | 187,472 | 167,282 | 177,109 | 251,678 | 253,855 | 238,995 | 259,821 | 201,421 | 171,462 | 141,895 | 53,636 | 35,290 | 40,627 | 24,336 | 28,354 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 782,749 | 793,876 | 814,455 | 841,007 | 858,976 | 796,675 | 753,033 | 831,875 | 802,325 | 756,679 | 686,578 | 632,435 | 622,560 | 574,407 | 558,349 | 198,752 | 199,681 | 206,453 | 201,104 | 212,273 |
| Cash ratio | 0.37 | 0.36 | 0.32 | 0.29 | 0.29 | 0.24 | 0.22 | 0.21 | 0.31 | 0.34 | 0.35 | 0.41 | 0.32 | 0.30 | 0.25 | 0.27 | 0.18 | 0.20 | 0.12 | 0.13 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($288,557K
+ $—K)
÷ $782,749K
= 0.37
The cash ratio of ChampionX Corp. has shown a generally increasing trend over the past eight quarters, indicating improved liquidity and ability to cover short-term obligations. The ratio has fluctuated between 0.29 and 0.46 during this period.
In the most recent quarter (Q4 2023), the cash ratio stood at 0.45, which means that the company had $0.45 in cash and cash equivalents for every $1 of current liabilities. This represents a slight decrease from the previous quarter's ratio of 0.46.
Overall, ChampionX Corp. appears to have a moderate level of liquidity as reflected in its cash ratio, with recent improvements suggesting a strengthened ability to meet its short-term financial obligations using its available cash resources.
Peer comparison
Dec 31, 2023