California Resources Corp (CRC)
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 | 929,000 | 929,000 | 867,000 | 972,000 | 864,000 | 884,000 | 851,000 | 834,000 | 753,000 | 657,000 | 577,000 | 461,000 | 329,000 | 420,000 | 403,000 | 356,000 | 491,000 | 510,000 | 522,000 | 577,000 |
| Total current liabilities | US$ in thousands | 616,000 | 694,000 | 582,000 | 717,000 | 894,000 | 932,000 | 1,208,000 | 1,205,000 | 854,000 | 957,000 | 886,000 | 622,000 | 473,000 | 1,194,000 | 5,759,000 | 543,000 | 709,000 | 721,000 | 610,000 | 689,000 |
| Current ratio | 1.51 | 1.34 | 1.49 | 1.36 | 0.97 | 0.95 | 0.70 | 0.69 | 0.88 | 0.69 | 0.65 | 0.74 | 0.70 | 0.35 | 0.07 | 0.66 | 0.69 | 0.71 | 0.86 | 0.84 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $929,000K ÷ $616,000K
= 1.51
The current ratio of California Resources Corporation has exhibited a fluctuating trend over the five quarters analyzed. The current ratio in Q4 2023 improved to 1.51 from 1.34 in Q3 2023, indicating that the company's current assets were 1.51 times greater than its current liabilities during that period. This suggests the company had sufficient short-term assets to cover its short-term obligations.
Comparing Q4 2023 to the same quarter in the previous year (Q4 2022), there has been a significant improvement from 0.97 to 1.51, signaling a strengthening liquidity position. However, it is important to note that in Q2 2023, there was a slight decrease in the current ratio to 1.49, followed by a decrease to 1.36 in Q1 2023 before the subsequent improvement in Q4 2023.
Overall, the current ratio of California Resources Corporation has generally been above 1, indicating that the company has had more than enough current assets to meet its short-term liabilities. However, the fluctuations suggest some variability in the company's liquidity position over the quarters examined. A sustained upward trend in the current ratio would be a positive indicator of the company's ability to effectively manage its short-term financial obligations.
Peer comparison
Dec 31, 2023