Coterra Energy Inc (CTRA)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 2,015,000 | 2,211,000 | 2,136,000 | 416,000 | 568,248 |
| Total current liabilities | US$ in thousands | 1,660,000 | 1,193,000 | 1,220,000 | 390,000 | 328,034 |
| Current ratio | 1.21 | 1.85 | 1.75 | 1.07 | 1.73 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $2,015,000K ÷ $1,660,000K
= 1.21
The current ratio of Coterra Energy Inc has fluctuated over the past five years. In 2023, the current ratio was 1.21, indicating that the company had $1.21 in current assets for every $1 in current liabilities. This represents a decrease from the previous year when the current ratio was 1.85.
Comparing to the ratios from 2021, 2020, and 2019, the current ratio for 2023 is lower than 2022, 2021, and 2019, but higher than 2020. A current ratio above 1 suggests that Coterra Energy Inc has more current assets than current liabilities, which generally indicates strong liquidity and the ability to cover short-term obligations.
However, the declining trend in the current ratio over the past two years may raise concerns about the company's liquidity position. It could indicate issues such as a decrease in cash or marketable securities, an increase in short-term debt, or difficulties in managing current assets efficiently.
Further analysis and comparison with industry benchmarks and peers' current ratios would provide more insights into Coterra Energy Inc's liquidity and financial health.
Peer comparison
Dec 31, 2023