California Resources Corp (CRC)
Quick ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 372,000 | 496,000 | 307,000 | 305,000 | 14,000 |
| Short-term investments | US$ in thousands | — | — | — | — | 3,000 |
| Receivables | US$ in thousands | 426,000 | 235,000 | 369,000 | 245,000 | 277,000 |
| Total current liabilities | US$ in thousands | 980,000 | 616,000 | 894,000 | 854,000 | 709,000 |
| Quick ratio | 0.81 | 1.19 | 0.76 | 0.64 | 0.41 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($372,000K
+ $—K
+ $426,000K)
÷ $980,000K
= 0.81
The quick ratio of California Resources Corp has shown an increasing trend from 0.41 as of December 31, 2019, to 0.81 as of December 31, 2024. This indicates an improvement in the company's short-term liquidity position over the years. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets and excludes inventory from current assets.
Although the quick ratio fluctuated during the period under review, reaching a peak of 1.19 as of December 31, 2023, before decreasing slightly in the following year, it generally remained above 1.0. This suggests that the company has an adequate level of liquid assets to cover its short-term liabilities, reflecting a healthy liquidity position.
Overall, the upward trend in the quick ratio indicates that California Resources Corp has been managing its short-term liquidity effectively and has strengthened its ability to fulfill its immediate financial obligations.
Peer comparison
Dec 31, 2024