California Resources Corp (CRC)
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 | 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 | 14,000 | 20,000 | 15,000 | 17,000 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | 24,000 | 21,000 | 10,000 | 3,000 | 2,000 | 12,000 | 26,000 |
| Receivables | US$ in thousands | 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 | 277,000 | 248,000 | 234,000 | 296,000 |
| 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 |
| Quick ratio | 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 | 0.41 | 0.37 | 0.43 | 0.49 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($496,000K
+ $—K
+ $235,000K)
÷ $616,000K
= 1.19
The quick ratio of California Resources Corporation has been relatively stable over the past five quarters, ranging from 0.89 in Q4 2022 to 1.37 in Q4 2023. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1 indicates that the company has sufficient liquid assets to cover its current liabilities.
In Q4 2023, the quick ratio improved to 1.37, which suggests that the company had $1.37 of liquid assets available for every $1 of current liabilities, indicating a strong liquidity position. This could be attributed to effective management of current assets and liabilities during this period.
Overall, the trend of increasing quick ratios over the quarters indicates that California Resources Corporation has been improving its ability to meet its short-term obligations with its liquid assets, which is a positive sign for investors and creditors. However, it is essential to keep monitoring this ratio to ensure the company's liquidity remains stable and adequate in the future.
Peer comparison
Dec 31, 2023