ChampionX Corporation (CHX)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 1,425,420 | 1,485,700 | 1,484,830 | 1,468,500 | 1,498,580 | 1,476,830 | 1,469,920 | 1,535,290 | 1,460,900 | 1,417,730 | 1,350,040 | 1,301,250 | 1,265,840 | 1,232,750 | 1,258,550 | 504,503 | 493,440 | 531,138 | 529,545 | 537,798 |
| 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 |
| Current ratio | 1.82 | 1.87 | 1.82 | 1.75 | 1.74 | 1.85 | 1.95 | 1.85 | 1.82 | 1.87 | 1.97 | 2.06 | 2.03 | 2.15 | 2.25 | 2.54 | 2.47 | 2.57 | 2.63 | 2.53 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,425,420K ÷ $782,749K
= 1.82
ChampionX Corp.'s current ratio has shown some fluctuation over the past eight quarters, ranging from a low of 1.74 in Q4 2022 to a high of 1.95 in Q3 2022. The current ratio measures the company's ability to meet its short-term obligations with its current assets. A higher current ratio indicates stronger liquidity and financial health, while a lower ratio may suggest potential liquidity issues.
Overall, the current ratio for ChampionX Corp. has generally been above 1.8, indicating that the company has had a comfortable cushion of current assets to cover its current liabilities. However, the slight fluctuations in the ratio over time may warrant further investigation into the company's ability to efficiently manage its working capital and liquidity levels.
Peer comparison
Dec 31, 2023