Civitas Resources Inc (CIVI)

Cash ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cash and cash equivalents	US$ in thousands	75,826	47,075	91,884	52,070	1,124,800	95,324	2,702,900	556,113	768,032	682,138	439,251	154,349	254,454	40,410	24,403	38,695	24,743	3,777	4,144	11,052
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	US$ in thousands	2,205,090	2,114,110	2,289,740	2,579,700	1,851,890	2,019,470	1,221,090	1,058,030	1,177,930	1,268,850	1,473,980	1,335,530	1,119,510	262,103	230,366	94,276	74,484	71,521	59,353	96,364
Cash ratio		0.03	0.02	0.04	0.02	0.61	0.05	2.21	0.53	0.65	0.54	0.30	0.12	0.23	0.15	0.11	0.41	0.33	0.05	0.07	0.11

December 31, 2024 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($75,826K + $—K) ÷ $2,205,090K
= 0.03

The cash ratio of Civitas Resources Inc has fluctuated over time based on the provided data. From March 31, 2020, to June 30, 2022, the cash ratio ranged between 0.05 and 0.54, indicating the company's ability to cover its short-term liabilities with its cash and cash equivalents was relatively low during this period.

However, a significant increase in the cash ratio was observed from June 30, 2022, to June 30, 2023, where it reached a high of 2.21. This sudden spike suggests a substantial increase in the company's cash reserves compared to its short-term liabilities during this period.

Subsequently, from September 30, 2023, to December 31, 2024, the cash ratio decreased to a range between 0.02 and 0.61. This decline indicates a decrease in the company's ability to cover its short-term obligations with its available cash and cash equivalents during this period.

Overall, the fluctuation in Civitas Resources Inc's cash ratio reflects varying levels of liquidity and the company's ability to meet its short-term financial obligations with its available cash reserves over the reporting periods.