Civitas Resources Inc (CIVI)

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	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	11,008	8,371	9,149	32,695
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	505,961	573,077	201,200	222,448	343,500	337,946	432,694	410,418	362,300	86,414	77,500	37,600	32,673	28,031	25,106	16,463	43,714	41,996	40,341	47,281
Total current liabilities	US$ in thousands	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	104,739	103,808	88,008	100,653
Quick ratio		0.88	0.33	2.38	0.74	0.94	0.80	0.59	0.42	0.55	0.48	0.44	0.81	0.77	0.44	0.49	0.29	0.52	0.49	0.56	0.79

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($1,124,800K + $—K + $505,961K) ÷ $1,851,890K
= 0.88

The quick ratio of Civitas Resources Inc has varied significantly over the past eight quarters. In Q2 2023, the company had a quick ratio of 2.80, indicating a strong ability to meet its short-term obligations using its most liquid assets. This was a significant improvement from the previous quarter, Q1 2023, where the quick ratio was 0.90, showing a less favorable liquidity position.

The quick ratio in Q4 2023 was 1.16, suggesting an improvement compared to Q3 2023, where the ratio was 0.47. However, it was lower than the quick ratio in Q2 2023. The quick ratios in the earlier quarters of 2022 also showed fluctuations, with ratios ranging from 0.49 to 0.91.

Overall, the quick ratio trend for Civitas Resources Inc appears to be quite volatile, with fluctuations in its ability to cover short-term liabilities with its current assets. Further analysis and monitoring of the company's liquidity position would be advisable to assess its financial health accurately.