Coterra Energy Inc (CTRA)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 956,000 | 673,000 | 1,036,000 | 140,000 | 200,227 |
| Short-term investments | US$ in thousands | — | — | — | 113 | — |
| Receivables | US$ in thousands | 1,012,000 | 1,418,000 | 1,120,000 | 220,895 | 209,023 |
| Total current liabilities | US$ in thousands | 1,660,000 | 1,193,000 | 1,220,000 | 390,000 | 328,034 |
| Quick ratio | 1.19 | 1.75 | 1.77 | 0.93 | 1.25 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($956,000K
+ $—K
+ $1,012,000K)
÷ $1,660,000K
= 1.19
The quick ratio of Coterra Energy Inc has fluctuated over the past five years. As of Dec 31, 2023, the quick ratio stands at 1.17, indicating that the company has $1.17 in liquid assets available to cover each dollar of current liabilities. This ratio has decreased from the previous year, where it was 1.79 on Dec 31, 2022.
The quick ratio was relatively stable in the preceding two years, with values of 1.71 on Dec 31, 2021, and 1.65 on Dec 31, 2019. However, there was a significant drop in the quick ratio to 1.00 on Dec 31, 2020, which may have signaled potential liquidity concerns or decreased ability to meet short-term obligations.
Overall, while the quick ratio has shown some volatility, it is important for stakeholders to monitor this ratio closely to assess Coterra Energy Inc's short-term liquidity position and ability to meet its immediate financial obligations.
Peer comparison
Dec 31, 2023