California Resources Corp (CRC)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 929,000 | 864,000 | 753,000 | 491,000 | 640,000 |
| Total current liabilities | US$ in thousands | 616,000 | 894,000 | 854,000 | 709,000 | 607,000 |
| Current ratio | 1.51 | 0.97 | 0.88 | 0.69 | 1.05 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $929,000K ÷ $616,000K
= 1.51
Based on the data provided for the current ratio of California Resources Corporation over the past three years, we observe the following trends:
- In 2021, the current ratio was 0.88, indicating that the company had $0.88 in current assets for every $1 in current liabilities. This suggests that the company may have faced difficulties in meeting its short-term obligations at that time.
- In 2022, the current ratio improved to 0.97, showing a slight increase in the company's ability to cover its short-term liabilities with its current assets. However, the ratio still remained below 1, which may indicate lingering concerns about liquidity.
- In 2023, there was a notable improvement in the current ratio to 1.51. This substantial increase indicates a significant enhancement in the company's liquidity position, with $1.51 in current assets available for every $1 of current liabilities.
Overall, the upward trend in the current ratio from 2021 to 2023 reflects an improving liquidity position for California Resources Corporation. The significant increase in 2023 suggests that the company may have taken steps to strengthen its short-term financial stability and ability to meet its current obligations.
Peer comparison
Dec 31, 2023