Crescent Energy Co (CRGY)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Total current assets | US$ in thousands | 615,652 | 516,739 | 479,618 |
| Total current liabilities | US$ in thousands | 750,257 | 893,749 | 616,125 |
| Current ratio | 0.82 | 0.58 | 0.78 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $615,652K ÷ $750,257K
= 0.82
The current ratio of Crescent Energy Co has shown some fluctuations over the past three years. In 2023, the current ratio improved to 0.82 from 0.58 in 2022, indicating that the company's short-term liquidity position strengthened during the year. However, compared to 2021 when the ratio was 0.78, there is a modest improvement in the current ratio.
The current ratio measures a company's ability to meet its short-term obligations with its current assets. A ratio below 1 suggests that the company may have difficulty meeting its short-term liabilities with its current assets alone. In the case of Crescent Energy Co, the current ratio has been consistently below 1 in the past three years, indicating a potential liquidity risk.
While the increase in the current ratio is a positive sign for Crescent Energy Co in 2023, it is important to monitor this ratio closely to ensure that the company maintains a healthy liquidity position and is able to meet its short-term financial obligations in a timely manner.
Peer comparison
Dec 31, 2023