Crescent Energy Co (CRGY)

Quick ratio

		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
Cash	US$ in thousands	136,151	778,115	5,321	2,974	228,614	2,253	2,930	0	22,478	54,580	112,548	128,578
Short-term investments	US$ in thousands	52,225	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	—	—	—	—	—	—	470,363	459,752	520,063	596,192	513,334	342,196
Total current liabilities	US$ in thousands	929,753	712,314	748,076	750,257	880,798	672,432	786,116	893,749	1,039,880	1,290,580	1,233,900	616,125
Quick ratio		0.20	1.09	0.01	0.00	0.26	0.00	0.60	0.51	0.52	0.50	0.51	0.76

September 30, 2024 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($136,151K + $52,225K + $—K) ÷ $929,753K
= 0.20

The quick ratio of Crescent Energy Co has shown significant fluctuations over the past several quarters. A quick ratio below 1 indicates that the company may have difficulties meeting its short-term obligations with its most liquid assets.

In the most recent quarter, as of September 30, 2024, the quick ratio stood at 0.20, which indicates that the company has only $0.20 of liquid assets available to cover each dollar of current liabilities. This suggests that Crescent Energy Co may face challenges in meeting its short-term financial obligations.

The quick ratio had improved in the previous quarter, reaching 1.09 as of June 30, 2024, indicating that the company had more than enough liquid assets to cover its current liabilities at that point in time. However, looking further back, the quick ratio was extremely low in the first quarter of 2024 and also dropped to 0.00 in some previous quarters, signaling a potential liquidity crunch.

It is important for Crescent Energy Co to monitor its quick ratio closely and take appropriate measures to ensure that it maintains sufficient liquidity to meet its short-term obligations. Analyzing the reasons behind the fluctuations in the quick ratio can provide valuable insights into the company's liquidity management and financial health.