Comstock Resources Inc (CRK)

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	16,669	19,835	9,919	33,677	54,652	38,648	32,272	12,137	30,663	27,841	19,727	77,435	30,272	28,268	11,595	15,527	18,532	53,243	46,747	29,324
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	US$ in thousands	239,742	214,804	193,917	243,543	510,127	606,580	463,506	232,955	267,738	233,902	168,139	139,851	139,615	98,757	97,453	110,518	149,981	126,141	79,547	96,221
Total current liabilities	US$ in thousands	681,491	659,961	762,062	628,311	756,137	1,091,530	964,661	938,487	633,984	1,063,460	655,525	433,584	441,592	380,782	290,966	327,619	392,376	389,460	228,625	198,086
Quick ratio		0.38	0.36	0.27	0.44	0.75	0.59	0.51	0.26	0.47	0.25	0.29	0.50	0.38	0.33	0.37	0.38	0.43	0.46	0.55	0.63

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($16,669K + $—K + $239,742K) ÷ $681,491K
= 0.38

The quick ratio of Comstock Resources, Inc. has shown some fluctuations over the last eight quarters. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio of less than 1 indicates that the company may have difficulty meeting its short-term liabilities.

Looking at the data provided:
- The quick ratio in Q4 2023 was 0.68, indicating that the company had $0.68 in liquid assets to cover every $1 of current liabilities.
- This represented an improvement from the previous quarter (Q3 2023) when the quick ratio was 0.50.
- However, compared to Q4 2022 when the quick ratio was 0.81, the current liquidity position appears weaker.

Overall, the quick ratio of Comstock Resources, Inc. has been volatile, with some quarters showing stronger liquidity positions than others. It would be important for the company to monitor and manage its liquidity position to ensure it can meet its short-term obligations effectively.