California Resources Corp (CRC)
Quick 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 | US$ in thousands | 372,000 | 241,000 | 1,031,000 | 403,000 | 496,000 | 479,000 | 448,000 | 477,000 | 307,000 | 358,000 | 324,000 | 328,000 | 305,000 | 189,000 | 151,000 | 130,000 | 28,000 | 98,000 | 105,000 | 67,000 |
| Short-term investments | US$ in thousands | — | — | — | 2,342,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | 24,000 | 21,000 | 10,000 |
| Receivables | US$ in thousands | 426,000 | 359,000 | 244,000 | 262,000 | 235,000 | 271,000 | 216,000 | 279,000 | 369,000 | 321,000 | 340,000 | 301,000 | 245,000 | 261,000 | 238,000 | 201,000 | 177,000 | 155,000 | 132,000 | 135,000 |
| Total current liabilities | US$ in thousands | 980,000 | 897,000 | 593,000 | 594,000 | 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 |
| Quick ratio | 0.81 | 0.67 | 2.15 | 5.06 | 1.19 | 1.08 | 1.14 | 1.05 | 0.76 | 0.73 | 0.55 | 0.52 | 0.64 | 0.47 | 0.44 | 0.53 | 0.43 | 0.23 | 0.04 | 0.39 |
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, a measure of its ability to meet short-term obligations with its most liquid assets, has shown significant fluctuations over the reported periods. The quick ratio increased gradually from March 31, 2020, to June 30, 2021, reaching a peak of 0.55. This indicates an improvement in the company's short-term liquidity position.
However, from September 30, 2021, to September 30, 2022, there was a notable increase in the quick ratio from 0.47 to 0.73, suggesting a strengthening liquidity position during this period. The ratio continued to improve, reaching its highest point of 1.19 on December 31, 2023, and then further spiked to 5.06 on March 31, 2024.
This sudden increase in the quick ratio from March 31, 2024, to June 30, 2024, to 2.15, and then a subsequent decrease to 0.81 on December 31, 2024, indicate volatility in the company's ability to quickly cover its short-term liabilities with its liquid assets.
Overall, the quick ratio of California Resources Corp has shown fluctuations, reflecting changes in the company's short-term liquidity position over the reported periods. Investors and stakeholders may need to monitor the company's liquidity closely to assess its ability to meet its immediate financial obligations.
Peer comparison
Dec 31, 2024